1. Facebook and Tesla Headline Earnings Card
Diving right into the earnings, the most market-moving reports could be after the close of trading tomorrow.
Facebook (NASDAQ:FB) will report postmarket, while a $5 billion settlement over privacy practices with the FTC could be announced as early as this week, according to published reports.
On average, analysts expect Facebook (NASDAQ:FB) to post a profit of $1.82 per share, with revenue of $16.5 billion, according to forecasts compiled by .
Shares of Facebook, along with Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN) and Google parent Alphabet (NASDAQ:GOOGL) may see volatility during the day after The Wall Street Journal reported the Justice Department is formally looking into whether Big Tech companies are unlawfully stifling competition.
And always-interesting Tesla (NASDAQ:TSLA) will be reporting after the bell as well, with analysts predicting a loss of 41 cents per share on sales of about $6.5 billion. The automaker said at the start of the month it delivered 95,200 vehicles in the second quarter.
Tesla shares are off more than 22% year to date.
Before the bell, Dow components Boeing (NYSE:BA) and Caterpillar (NYSE:CAT) will issue numbers.
Boeing (NYSE:BA) is forecast to earn $1.87 per share for the quarter, with revenue of about $19.2 billion, according to analysts polled by . Investors will be looking for any more information on the company’s grounded 737 MAX jetliner.
Analysts predict Caterpillar earned $3.12 a share, with revenue coming in at about $14.4 billion.
Also reporting ahead of trading tomorrow are AT&T (NYSE:T), General Dynamics (NYSE:GD) and United Parcel Service (NYSE:UPS).
Ford Motor (NYSE:F) is scheduled to report after the close.
2. Will New Home Sales Help Homebuilders?
After today’s disappointing existing home sales numbers, which didn’t shake the market because it underpinned reasoning for a rate cut, the latest new home sales figures arrive tomorrow.
The Commerce Department will report on sales of newly-constructed homes in June at 10:00 AM ET (14:00 GMT).
June new home sales are expected to have rebounded in June, with economists predicting a rise of 6% to an annual rate of 659,000, according to forecasts compiled by .
3. Oil Inventories in Spotlight After Big API Draw
Oil traders will be looking tomorrow to see if U.S. crude stockpiles fell last week for a sixth-straight time as geopolitical tensions around Iran began to take a back seat.
The American Petroleum Institute’s measure of weekly stockpiles, out after the bell today, said inventories fell by a whopping 11 million barrels last week, which will have traders looking for a bullish number tomorrow.
The Energy Information Administration will report on oil inventories at 10:30 AM ET (14:30 GMT).
Traders expect that inventories fell again, with a drawdown of a little more than 4 million barrels predicted, according to forecasts compiled by .
