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© Reuters.Investing.com – Here are three things that could rock the markets tomorrow.
By Kim Khan
Investing.com – Here are three things that could rock the markets tomorrow.
1. Morgan Stanley (NYSE:) Leads More Financial Earnings
Another batch of financial company earnings comes tomorrow. This weeks results have been mostly positive, but with a few big-name exceptions like Wells Fargo (NYSE:) and Bank of America (NYSE:).
Morgan Stanley (NYSE:) will weigh in ahead of trading.
Analysts are looking for a of $1.03 per share on revenue of about $9.7 billion, according to forecasts compiled by Investing.com.
But there’s already some hesitation about the numbers. JMP Securities downgraded Morgan Stanley (NYSE:) shares to market perform from outperform on Monday.
JMP said Morgan Stanley’s results are tied to the market backdrop and is growing from a large base in wealth management. That could make management hesitant to “push the goalposts much, if at all” when it updates guidance when reporting earnings.
Also reporting is Bank of New York Mellon (NYSE:), which is expected to $1.39 per share and revenue for $4.24 billion.
Charles Schwab (NYSE:) is also on the calendar. The consensus forecast is for a of 64 cents per share, with revenue seen coming in at $2.6 billion.
2. Retail Sales in Focus After Target (NYSE:) Miss
There will be economic indicators aplenty for investors to digest now that phase one of a trade deal between the U.S. and China is finally in the rearview mirror.
will be of special interest after Target (NYSE:) with disappointing holiday sales.
The Commerce Department will report on December retail sales at 8:30 AM ET (13:30 GMT).
Economists predict that retail sales rose 0.3% last month, according to forecasts compiled by Investing.com.
, which exclude autos, are seen up 0.5%.
At the same time, the Labor Department releases weekly initial jobless claims.
for first-time unemployment benefits are expected to have ticked up to 216,000.
3. Philly Fed Seen Rebounding Slightly
Also at 8:30 AM ET there will be more information on whether manufacturing remains the weak spot for the U.S. economy.
The for January is expected to rise to 3.8, according to economists’ forecasts.
At 10:00 AM ET, the November numbers on arrive.
Economists are looking for a drop of 0.1% for the month.
Also at 10, the National Association of Home Builders will release its measure of housing activity for January
The is forecast to edge down to 74 from 76 in December.
1. Morgan Stanley (NYSE:) Leads More Financial Earnings
Another batch of financial company earnings comes tomorrow. This weeks results have been mostly positive, but with a few big-name exceptions like Wells Fargo (NYSE:) and Bank of America (NYSE:).
Morgan Stanley (NYSE:) will weigh in ahead of trading.
Analysts are looking for a of $1.03 per share on revenue of about $9.7 billion, according to forecasts compiled by Investing.com.
But there’s already some hesitation about the numbers. JMP Securities downgraded Morgan Stanley (NYSE:) shares to market perform from outperform on Monday.
JMP said Morgan Stanley’s results are tied to the market backdrop and is growing from a large base in wealth management. That could make management hesitant to “push the goalposts much, if at all” when it updates guidance when reporting earnings.
Also reporting is Bank of New York Mellon (NYSE:), which is expected to $1.39 per share and revenue for $4.24 billion.
Charles Schwab (NYSE:) is also on the calendar. The consensus forecast is for a of 64 cents per share, with revenue seen coming in at $2.6 billion.
2. Retail Sales in Focus After Target (NYSE:) Miss
There will be economic indicators aplenty for investors to digest now that phase one of a trade deal between the U.S. and China is finally in the rearview mirror.
will be of special interest after Target (NYSE:) with disappointing holiday sales.
The Commerce Department will report on December retail sales at 8:30 AM ET (13:30 GMT).
Economists predict that retail sales rose 0.3% last month, according to forecasts compiled by Investing.com.
, which exclude autos, are seen up 0.5%.
At the same time, the Labor Department releases weekly initial jobless claims.
for first-time unemployment benefits are expected to have ticked up to 216,000.
3. Philly Fed Seen Rebounding Slightly
Also at 8:30 AM ET there will be more information on whether manufacturing remains the weak spot for the U.S. economy.
The for January is expected to rise to 3.8, according to economists’ forecasts.
At 10:00 AM ET, the November numbers on arrive.
Economists are looking for a drop of 0.1% for the month.
Also at 10, the National Association of Home Builders will release its measure of housing activity for January
The is forecast to edge down to 74 from 76 in December.
