Fed rate cut, FOMC dot-plot, Powell comments will be in focus this week.General Mills is a sell with weak earnings, soft guidance on deck.The blockbuster week ahead is expected to be an eventful one filled with several market-moving events, including the Federal Reserve’s latest monetary policy meeting. An official statement is due at 2:00PM ET on Wednesday. Fed chair Jerome Powell will speak at 2:30PM ET.
Given the growing demand for AI solutions in enterprise software, Salesforce’s new products could drive further growth, making it a solid buy heading into the event. Be sure to check out InvestingPro to stay in sync with the market trend and what it means for your trading.On the flip side, General Mills appears to be a stock to sell this week as it prepares to report its fiscal first-quarter earnings update amid the challenging operating environment.
Earnings have been catalysts for outsized swings in shares this year, as per data from InvestingPro, with General Mills’ stock gapping down 5% when the company last reported quarterly numbers in late June.As could be expected, an InvestingPro survey of analyst earnings revisions points to mounting pessimism ahead of the print. All ten of the analysts covering the company slashed their profit estimates in the past 90 days as Wall Street grows increasingly bearish on the consumer-foods company.
Inflationary pressures have persisted longer than expected, and consumers around the world are pulling back on spending for essentials as prices remain elevated.GIS stock closed at $73.75 on Friday, valuing the company at $41 billion. Shares are up 13.1% in 2024.