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© Reuters.Investing.com – Here are three things that could rock markets tomorrow.
1. Housing, Job Openings Data Coming Up
Housing numbers continue to come in tomorrow. Today the National Association of Home Builders reported that its index of jumped to 76 for December, confounding expectations for a tick down to 70.
The Commerce Department will issues its figures for November housing starts and building permits tomorrow at 8:30 AM ET (13:30 GMT) tomorrow.
Economists expect that rose to an annual rate of 1.345 million last month, with slipping to 1.41 million, according to forecasts compiled by Investing.com.
At 10:00 AM ET, the Job Openings and Labor Turnover Survey () arrives, with the economists’ consensus estimates at 7.018 million.
At 9:15 AM ET, there will be data on November , forecast to have risen 0.8%, and , expected to come in at 77.4%.
2. FedEx Earnings on Tap
FedEx (NYSE:) will report earnings tomorrow, right in heart of its most important time of year.
The shipping giant will report quarterly results after the bell, with analysts predicting a of $2.82 per share on revenue of $17.6 billion, according to forecasts compiled by Investing.com.
The was some concern among investors today after Amazon.com (NASDAQ:) announced it would stop third-party sellers from using FedEx (NYSE:) ground shipping for Prime orders, citing a decline in performance, according to The Wall Street Journal.
FedEx (NYSE:) said the decision affected just a small number of shippers and business impact would be “miniscule.”
Last week UBS upgraded the stock to neutral from sell, saying that 2020 earnings estimates were a low bar for the company to clear.
3. Fundamentals in Focus With Oil Above $60
Oil rose in today’s trading, but enthusiasm was tempered by China’s apparent reluctance to tout details of the phase one trade deal.
Fundamentals will be more in focus tomorrow when the American Petroleum Institute reports on its estimate of U.S. oil inventories after the bell tomorrow.
Last week that the showed a build of 1.41 million barrels.
The API serves as a snapshot for the official government data, out on Wednesday. Analysts are looking the Energy Information Administration to report a drop in of 1.92 million barrels.
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