The U.S. stock market rose with relief after the U.S. Federal Reserve took a tougher stance on curbing inflation, raising the benchmark rate by three-quarters of a percentage point and signaling that more is to come.

Stocks have fluctuated in recent days ahead of the Fed’s decision. Investors worried that it would act so tightly that it would cause a recession in the economy. But in the last couple days, momentum for a larger-than-expected rate hike has begun to build.

The Fed is determined to turn the tide on inflation after previously admitting it didn’t act fast enough. The technology sector has been thrown into turmoil by the specter of a rate hike as investors shed riskier assets. Several tech companies have announced plans to cut staff or suspend hiring in preparation for the slowdown.

Reporting season for large corporations will begin again in the next few weeks, and analysts will be listening to what CEOs have to say about supply, demand and costs. Several S&P companies have already lowered their forecasts, warning of pressure on profit margins due to rising material and labor costs.

The slowdown in the housing sector is also building as potential buyers are pulling back and mortgage rates have risen nearly 6%, while home prices remain high due to low inventory levels.

Thursday will see the release of U.S. housing and unemployment trend data, as well as earnings from grocery giant Kroger (NYSE:KR).

Here are 3 events that could impact the market on Thursday:

1. HOUSING STARTS

Along with completed home sales, the trend for housing starts is down. Analysts expect the number of new construction starts in the U.S. to be around 1.7 million in May, down from 1.724 million in April. The data will be released at 08:30 am ET (12:30 pm GMT).

2. JOBLESS CLAIMS

New jobless claims data for last week is due out at 08:30am ET (12:30pm GMT). Analysts expect 215,000 claims to be filed, up from 229,000 a week earlier.

3. KROGER ADVERTISEMENTS.

Grocery prices are skyrocketing, hitting households as they try to also cope with rising fuel prices. The Kroger Company (NYSE:KR) is expected to report earnings per share of $1.29 on revenue of $43.8 billion. Analysts will listen to what it has to say about labor and supply chain costs.