Day Ahead: Top 3 Things to Watch




Day Ahead: Top 3 Things to Watch


Investing.com - Here's a preview of the top 3 things that could rock markets tomorrow.

1. Fed Minutes, Housing Activity in Focus

Monetary policy comes into focus tomorrow as the Federal Reserve releases the minutes of its July meeting at 2 PM ET (18:00 GMT).

With expectations running high that the U.S. central bank is likely to cut rates at its meeting next month, the minutes will likely be parsed for further insight into policymakers’ appetite to support easier monetary policy measures, specifically if there was much dissent among the FOMC members.

President Donald Trump earlier this week continued to call on the Fed to cut rates.

Trump said the central bank should cut interest rates by at least 100 basis points and throw in “some” quantitative easing for good measure.

The National Association of Realtors releases its report on July existing home sales at 10 AM ET (14:00 GMT).

Forecasts compiled by Investing.com expect the report to show existing home sales in July rose 2.5% from June to 5.39 million units on an annualized basis.

2. Crude Inventories on Tap

The Energy Information Administration (EIA) releases its weekly petroleum report Wednesday morning.

Ahead of the EIA report, the American Petroleum Institute released data, which often serves as an early indication of weekly petroleum levels, showing crude stockpiles fell by 3.5 million barrels last week.

The EIA is expected to report crude stockpiles fell by 1.889 million barrels last week. The report has confounded economists’ estimates lately, showing a build for two consecutive weeks against expectations for a decline.

Crude oil futures rose 0.2% to settle at $56.34 a barrel.

3. Lowe's, Target) Earnings Due

Earnings from Lowe’s Companies (NYSE:LOW) are due before the opening bell Wednesday, coming a day after rival Home Depot (NYSE:HD) topped forecasts but cut its outlook amid pressures from falling lumber prices.

Lowe's is expected to report earnings of $2.01 a share on revenue of $20.95 billion.

The home-improvement retailer’s results are expected to reflect an uptick in costs amid restricting efforts. It announced store closures and job cuts last year as part of a major restructuring plan.

In its first-quarter report, the home-improvement retailer cut its full-year earnings outlook, and investors will be keen for an update following the key spring quarter.

Lowe's shares are up 6.2% this year.

Target (NYSE:TGT), meanwhile, is expected to report earnings of $1.62 a share and revenue of $18.3 billion before the opening bell on Wednesday.

As well as earnings and guidance, commentary concerning the Trump administration’s decision to delay tariffs on retail-sensitive items such as toys and clothes to Dec. 15 from Sept. 1 will likely draw close attention.

The tariff delay eased fears that U.S. companies would be forced to pass any additional levies on certain items to consumers during the key holiday season.

Target (NYSE:TGT) shares are up 29% this year.





Related News

U.S. Stock Index Futures Slide After Oil Jumps on Drone Attack
Today, 04:18
(Bloomberg) -- U.S. stock index futures dropped as global oil prices surged the most on record after a drone strike on a Saudi Arabian oil facility increased geopolitical risk concern. S&P 500 Index futures expiring in December dropped as much as
Hong Kong's World Class Subway in Crisis After Repeated Attacks
Today, 04:15
(Bloomberg) -- From Sydney to Stockholm, governments looking for help with their rail systems turn to Hong Kong’s MTR Corp., renowned for its speedy, clean and reliable commuter trains. That polished image is now tarnished at home, as months of
Next Trump Tariffs May Soon Hit Europe’s Luxury-Goods Exporters
Today, 04:12
(Bloomberg) -- Some of Europe’s top luxury brands are targeted in President Donald Trump’s latest tariff salvo, which could affect billions of dollars in exports of American-bound whiskeys, wine, Champagne, handbags and men’s suits. A panel of three
China’s Economy Slows as Industrial Output Weaker Than Expected
Today, 04:09
(Bloomberg) -- China’s economy slowed further in August, indicating current stimulus policies may not be enough to shield the economy from the worsening effects of the trade war with the U.S. Industrial output rose 4.4% from a year earlier, versus a
OxyContin maker Purdue Pharma files for bankruptcy protection
Today, 04:06
By Mike Spector NEW YORK (Reuters) - OxyContin maker Purdue Pharma LP filed for bankruptcy protection in New York Sunday night, succumbing to pressure from more than 2,000 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic.



Latest News
U.S. Stock Index Futures Slide After Oil Jumps on Drone Attack
16.09.2019 04:18
(Bloomberg) -- U.S. stock index futures dropped as global oil prices surged the most on record after a drone strike on a Saudi Arabian oil facility increased geopolitical risk concern. S&P 500 Index futures expiring in December dropped as much as 0.8% as of 9:25 a.m. in Singapore. Contracts slumped 1.4% on the Nasdaq 100 and declined 0.8% on the
Read more
Hong Kong's World Class Subway in Crisis After Repeated Attacks
16.09.2019 04:15
(Bloomberg) -- From Sydney to Stockholm, governments looking for help with their rail systems turn to Hong Kong’s MTR Corp., renowned for its speedy, clean and reliable commuter trains. That polished image is now tarnished at home, as months of unrest frequently boils into violence and vandalism on Hong Kong’s subway. MTR facilities have looked
Read more
Next Trump Tariffs May Soon Hit Europe’s Luxury-Goods Exporters
16.09.2019 04:12
(Bloomberg) -- Some of Europe’s top luxury brands are targeted in President Donald Trump’s latest tariff salvo, which could affect billions of dollars in exports of American-bound whiskeys, wine, Champagne, handbags and men’s suits. A panel of three World Trade Organization arbiters, as expected, said Friday the U.S. can legally impose tariffs on
Read more
China’s Economy Slows as Industrial Output Weaker Than Expected
16.09.2019 04:09
(Bloomberg) -- China’s economy slowed further in August, indicating current stimulus policies may not be enough to shield the economy from the worsening effects of the trade war with the U.S. Industrial output rose 4.4% from a year earlier, versus a median estimate of 5.2%. Retail sales expanded 7.5%, compared to a projected 7.9% increase.
Read more
OxyContin maker Purdue Pharma files for bankruptcy protection
16.09.2019 04:06
By Mike Spector NEW YORK (Reuters) - OxyContin maker Purdue Pharma LP filed for bankruptcy protection in New York Sunday night, succumbing to pressure from more than 2,000 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic. Purdue's board met Sunday evening to approve the long-expected bankruptcy filing, which the
Read more