Day Ahead: Top 3 Things to Watch
Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. AutoZone, General Mills to Report Results
Auto parts retailer AutoZone (NYSE:AZO) will report its fiscal fourth-quarter earnings before the bell.
On average, analysts expect that the company earned $17.99 per share on sales of $3.6 billion.
Same-store sales are expected to have climbed 2.22%, according to S&P CapitalIQ.
The pressure is on AutoZone to deliver strong numbers, as the stock has sharply outperformed the broader market in the last three months.
Also issuing numbers is food company General Mills (NYSE:GIS).
Wall Street is looking for a profit of 64 cents a share on sales about about $4.1 billion.
2. Trade Talk Likely to Dominate Again
Trade worries will dominate market chatter again tomorrow. Stocks sold off today after President Donald Trump said an announcement on trade would come after the market close.
Trump was widely expected to implement 10% tariffs on $200 billion in Chinese goods.
Some products, like Apple's (NASDAQ:AAPL) AirPods, will be exempt.
China has vowed to retaliate against any tariffs and will likely refuse and trade talks, which were recently mooted by Treasury Secretary Steve Mnuchin.
3. NAHB Housing Marker Index Expected to Dip
The economic calendar is fairly light, but there will be more numbers coming on the housing market, which should be of special interest as it’s the one sector of the economy showing weakness.
The National Association of Home Builders releases its housing market index for September. Economists expect a reading of 66, down from 67 in August.
The index has been strong of late, recently hitting 74, a level not seen since 1999.
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