Day Ahead: Top 3 Things to Watch for Jan. 7

Investing.com – Here are three things that could rock markets tomorrow.

1. ISM Services PMI Seen Ticking Up

Services sector activity highlights the economic calendar tomorrow.

The Institute of Supply Management will release its December non-manufacturing purchasing managers’ index (PMI) at 10:00 AM ET (15:00 GMT).

The is expected to have edged up to 54.5 last month, according to economists’ forecasts compiled by Investing.com.

Factory orders for November arrive at the same time.

Economists predict that November fell 0.8%.

2. Consumer Electronics Show in Vegas

Tech and media stocks could see higher-than-usual volume as the Consumer Electronics Show kicks off in Las Vegas.

Television manufacturers will be among the biggest presenters of the week, with much information on the next generation of HDTV, 8K, expected. Samsung’s Hyun-Suk Kim, CEO of its consumer electronics division, will deliver the company’s keynote address tonight.

Also expected are presentations on AI, self-driving vehicles and wearable health tech.

The show ends Friday.

3. API Inventories on Tap

As oil prices continue to ramp higher on the tension between the U.S. and Iran, there will be fundamentals to also guide the market tomorrow.

The American Petroleum Institute will release its snapshot of U.S. at 4:30 PM ET (21:30 GMT).

The API numbers aren’t perfectly correlated to the official government stockpile numbers, which come out Wednesday, but they do offer a glimpse of how they may be trending.

The API reported a drop in oil inventories of 7.9 million barrels last week.

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