As investors keep waiting for the Federal Reserve meeting next week, all eyes will be on the wholesale inflation data on Friday. The S&P 500 finished higher on Thursday, snapping a five-session losing trend. These are the stocks to watch on Friday:
Stocks To Watch
- Following the release of a street-topping earnings report, Broadcom (NASDAQ:AVGO) increased in premarket trade. The company that makes semiconductors said that its quarterly results were better than expected on both the top and bottom lines. Sales were up 21% from the previous quarter. When compared to the $8.8B that analysts were aiming for, AVGO’s prediction of sales of roughly $8.9B was impressive.
- Costco (NASDAQ:COST) reported a quarterly profit that increased over the same period last year, with net income rising to $1.36B in Q1 from $1.32B. Revenue increased by 8% to $54.4 billion. The top-line amount, though, fell $240 million shy of what analysts had projected.
- The Federal Trade Commission took action to stop the deal between Activision and Microsoft to buy it, so that company (NASDAQ:MSFT) will be looked at closely. The software juggernaut, which also owns the Xbox brand, and the video game manufacturer have come to a $69 billion merger agreement.
- Analysts thought that Chewy (NYSE:CHWY) would lose money in the third quarter, but the company actually made money. To achieve $2.53 billion, revenue increased by over 15%. The online pet supply company boosted its full-year prediction from its previous guidance of $9.9 billion to $10 billion, with a goal range of $10.02 billion to $10.04 billion.
- Li Auto (NASDAQ:LI) reported a larger-than-anticipated loss for the third quarter. Gross margin decreased to 12.7% while revenue increased by 20% to $1.31B. In Q4, the EV manufacturer expected to deliver 45,001 to 48,001 units.
Review Wolf Richter’s in-depth analysis of the labor market, in which he asks, “When will the waves of layoffs loosen the labor market?” to see how the whole economy is doing as the Federal Reserve gets ready for its meeting next week.
Featured Image – Freepik © mindandi
Author Jowi Kwasu 
