2. President Trump’s trip
Gibbs is keeping an eye on Trump’s first foreign trip as president, a voyage that includes visits to Israel, Saudi
“Trump’s first trip is very unusual because, typically, presidents don’t do such a long marathon, hitting five cities. We could see some added market volatility if there are any political missteps,” Gibbs said.
3. Retail earnings on tap
Retail stocks have struggled this year, and Gibbs is watching quarterly earnings set for next week.
Tiffany’s is set to report quarterly results next Wednesday before the opening bell, and analysts are expecting earnings of 70 cents per share, according to FactSet data. Lowe’s is set to report the same morning before the market’s open, and analysts are expecting earnings of $1.06 per share.
Meanwhile, Big Lots is expected to report quarterly earnings next Friday before the opening bell, and analysts are forecasting earnings of 99 cents per share.
The XRT, a popular exchange-traded fund that tracks retail stocks, has fallen 7 percent year to date.