Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Banks, Health Care Feature in Earnings
Banks and health care highlight earnings before the bell tomorrow.
Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and BlackRock (NYSE:BLK) will issue quarterly results, as will Johnson & Johnson (NYSE:JNJ) and UnitedHealth (NYSE:UNH).
Bank earnings have been mixed so far. Bank of America (NYSE:BAC) reported a better-than-expected profit, but the stock sold off as investors focused on sluggish loan growth. JPMorgan Chase (NYSE:JPM) reported a rise in loans on Friday.
Also weighing in will be Domino’s Pizza (NYSE:DPZ), That stock could get some extra scrutiny now after the latest retail sales numbers came in much weaker than expected.
2. JOLTs, Industrial Production Numbers Arrive
On the economic calendar, the latest reading on job openings arrives, with the August JOLTs report coming at 10:00 AM ET (14:00 GMT).
On average, economists expect that the job vacancies rose to 6.945 million in August from 6.939 million in July.
Before that, at 9:15 AM ET, the September figures on industrial production and capacity utilization are due.
September industrial production is expected to have risen 0.2%, compared with a 0.4% rise in August.
3. Khashoggi Disappearance Still Front of Mind for Oil Traders
Oil trade will likely be volatile again, as speculation about the fate of Washington Post journalist Jamal Khashoggi continues.
President Donald Trump relayed a denial by the Saudi monarch that the government knew what happened to Khashoggi. Trump speculated that he may have been targeted by “rogue killers.”
That seemed to calm the oil markets, as any direct tension between the U.S. and Saudi Arabia, up to and including sanctions, could mean a sharp curtailing of Saudi oil production as a response.
The market is already jittery about supply as U.S. sanctions on Iranian crude go into force on Nov. 4.
Media organizations are still pulling out of Saudi’s Future Investment Initiative, dubbed Davos in the Desert, over concern about Khashoggi’s fate.
