Day Ahead: Top 3 Things to Watch for Jan. 24

This post was originally published on this site

© Reuters. © Reuters.

By Kim Khan – Here are three things that could rock the market tomorrow.

1. Amex Rounding out Financial Earnings

The earnings parade slows down tomorrow, but it doesn’t stop.

Some big names are issuing numbers ahead of the opening bell.

American Express (NYSE:) is expected to report a of $2.01 per share on revenue of $11.37 billion, according to analysts’ forecasts compiled by

Baird initiated the coverage of the stock this week with a neutral rating and a price target of $124.

Communications company Ericsson (NASDAQ:) will also report, with a of 14 cents per share expected on revenue of $6.9 billion.

2. Markit PMI on Tap

Just after the start of trading, Markit will release its preliminary measure of U.S. productivity in January.

The preliminary (PMI) is expected to tick down to 52.5, according to forecasts compiled by

Yet both the services and manufacturing components are expected to post a small rise.

3. Oil Rig Count Comes as Prices Slide

The oil market has been a hot topic of late with geopolitics and supply-demand arguments pushing prices sharply.

Today New York-traded , the benchmark for U.S. crude, sunk for a fourth-straight day, settling down $1.15, or 2%, at $55.59 per barrel.

Earlier in the session, WTI sunk to $54.77, its lowest since the week of Nov. 17, as traders ignored a relatively neutral weekly supply-demand report from the Energy Information Administration to focus on the potential fallout from the new coronavirus.

Tomorrow Baker Hughes will report its , an indication of oil companies’ anticipation for higher oil prices.

Last week the oil rig count came in at 673.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment