Day Ahead: Top 3 Things to Watch
Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Consumer in Focus After Retail Plunge
Following today’s surprise tumble in retail sales for December, the market will be anxious for the latest consumer confidence figures, which arrive tomorrow.
The University of Michigan will release its preliminary measure of its February consumer sentiment index at 10:00 AM ET (15:00 GMT).
The index is expected to edge up to 93.3 for the current month, according to economist expectations compiled by Investing.com.
Consumer expectations and sentiment on current conditions are also forecast to rise.
Before that, the New York Fed will issue its measure of manufacturing in the New York region at 8:30 AM ET.
The Empire State Manufacturing index is seen rising to 7.1 in February.
2. Pepsi on Tap, Deere in the Spotlight
PepsiCo (NASDAQ:PEP) will report earnings tomorrow before the bell, coming on the heels of Coca-Cola's (NYSE:KO) tumble today on soft guidance.
Analyst are looking for Pepsi to report a profit of $1.49 per share on sales of about $19.5 billion, according to forecasts compiled by Investing.com.
As usual, focus will be more on its global snack business rather than its namesake cola. Investors will also be interested to see the performance and direction of new CEO Ramon Laguarta.
Pepsi was initiated with a neutral rating and a $123 price target by UBS in December.
Farm equipment maker Deere (NYSE:DE) will also weigh in ahead of trading.
As with all heavy equipment companies there will be great interest in any impact from the U.S.-China trade war.
Analysts, on average, predict a profit of $1.77 a share on sales of $6.85 billion.
3. Nvidia Rides High on Low Expectations
Chipmaker Nvidia could help techs tomorrow.
The company reported mixed quarterly results after the bell, but that was enough for investors who were clearly expecting the worst after the company warned on its results in January.
Nvidia (NASDAQ:NVDA) shares jumped 8% in after-hours trading.
The company reported an adjusted fiscal fourth-quarter profit of 80 cents per share, topping expectations for 71 cents per share compiled by Investing.com. Revenue of $2.21 billion was shy of forecasts of $2.3 billion.
Revenue guidance was a tad lower than forecasts.
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