Day Ahead: Top 3 Things to Watch
Published Nov 12, 2018 04:01PM ET
Updated Nov 12, 2018 04:30PM ET
Ths stock tumbled in late trading.
Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Home Depot Leads Earnings
The early-morning action will be dominated by Dow component Home Depot (NYSE:HD).
On average, analysts expect that the home improvement company earned $2.27 per share, on revenue of $26.25 billion.
Home Depot will be yet another data point for how the housing market is performing.
Last week, DR Horton (NYSE:DHI) tumbled 9% after posting fiscal-fourth revenue that fell short of estimates and issued a warning of slowing orders growth.
Shares of Home Depot fell 3.5% today.
2. Fed Heads on Display
There are no major data releases on the economic calendar, but for those still a concerned about interest rate moves, there’s a bevy of Fed speakers.
At 10 AM ET (15:00 GMT), Federal Reserve board member Lael Brainard will be speaking. At the same time, Minnesota Fed President Neel Kashkari will also be talking.
At 5:00 PM ET, Fed governor Mary Daly will speak.
And at 2:20 PM ET, Philadelphia Federal Reserve President Patrick Harker will speak at the Fintech and the New Financial Landscape conference.
3. Oil Downtrend Continuing?
Oil prices will be in focus as they continue to decline.
Crude had all the right reasons to rise today, but still ended down for the 11th day in a row.
Prices of WTI and Brent crude both jumped as much as 2% at the start of Monday's trade in Asia after Saudi Energy Minister Khalid al-Falih said at the weekend that the kingdom planned to reduce by half-million barrels its daily supply to world markets.
But as trading progressed to the European and New York sessions, the gains began fizzling on the notion that the cuts were inadequate to compensate for ramping oil production, standing at a weekly record of 11.6 million barrels per day.
Energy investors will be looking to see if the bearish move continues.
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Written By: Investing.com
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