Day Ahead: Top 3 Things to Watch
Published Feb 04, 2019 04:53PM ET
Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Alphabet Dips Despite Big Beat
Google parent Alphabet (NASDAQ:GOOGL) could weigh on the tech sector as a whole in early trading tomorrow.
The company reported a quarterly profit that trounced expectations, while revenue also came in higher than forecasts.
But the stock sold off following the release of the numbers. While the headline earnings looked very strong, Alphabet’s operating income was less then what Wall Street was looking for.
Alphabet was down about 2% in postmarket trading.
2. ISM Services PMI Seen Edging Lower
The highlight of tomorrow’s economic calendar is the Institute of Supply Management’s non-manufacturing purchasing manager’s index (PMI), which arrives at 10:00 AM ET (15:00 GMT).
Economists forecast that the measure of services activity ticked down slightly to 57 in January.
Investors will also be paying attention to the measure of non-manufacturing prices, given the sharp drop in manufacturing prices on Friday.
3. Viacom, Ralph Loren) Set to Report
Viacom (NASDAQ:VIAB) is among the earnings headliners ahead of trading tomorrow.
On average, analysts expect that the media company earned $1.03 per share in its latest quarter on revenue of about $3.1 billion.
In late January, Viacom announced it would acquire streaming service Pluto TV for $340 million in cash.
Also issuing numbers will be apparel company Ralph Lauren (NYSE:RL).
Analysts are forecasting a profit of $2.14 per share, with sales of about $1.66 billion.
Shares are down in the last three months, but have recovered some ground from its swoon in late December, along with the broader market.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.