Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow
1. Apple) New IPhones in Focus
Apple (NASDAQ:AAPL) will take center stage tomorrow at 1 PM ET (17:00 GMT) when the tech giant is set to reveal its trio of iPhone 11s and other gadgets like a new version of the Apple Watch.
“Expected price points look to be $749 for the base iPhone, $999 for the iPhone 11 Pro, and $1,099 for the iPhone Pro Max,” Wedbush said. Any update on the upcoming launch of Apple TV+ - expected to go live in the early November – will also come into focus, Wedbush added.
In the run-up to the event, however, some on Wall Street have opted for caution, with Piper Jaffray saying it expected "limited excitement" around this year's iPhones.
Apple shares (NASDAQ:AAPL) were up 0.31% on Monday. They're up 2.6% so far in September and 8.2% so far in the third quarter -- third best among the 30 Dow stocks, after Home Depot (NYSE:HD) and Procter & Gamble (NYSE:PG).
Most on Wall Street are looking ahead to the launch of Apple's 5G phones next year, despite uncertainty about the upgrade cycle, Nomura said.
"We believe many investors are looking ahead to the 2020 5G iPhone launches," Nomura said. "IPhone estimates may be optimistic and that the shape of the 5G cycle remains uncertain."
2. Labor Market Check
Just days after the data showed the U.S. economy created fewer jobs in August than expected, investor attention will turn to the Job Openings and Labor Turnover survey (JOLTs), which comes out at 10 AM ET.
Economists predict that the January JOLTs number fell slightly to 7.31 million last month from 7.48 million.
3. API Crude inventories
A fresh batch of petroleum data from the American Petroleum Institute due Tuesday, is expected to be closely watched to gauge whether the U.S. crude supplies will continue to slide, and support prices the rally in oil prices seen so far this month.
The American Petroleum Institute last Tuesday reported crude oil stockpiles rose by 0.40 million barrels, though U.S. government data, released a day later, showed a third-straight weekly draw.
Crude oil futures gained 2.4% to settle at $57.85 even as traders and investors concluded that newly appointed Saudi energy minister Prince Abdulaziz bin Salman would signal more aggressive efforts to curb oil output to support prices.
Not everyone agreed, however. Wjile Abdulaziz bin Salman called on OPEC to continue output cuts, he said it would be wrong to preempt the meeting of OPEC and its allies. His comments "are more or less market neutral," said Ole Hansen, head of commodity strategy at Saxo Bank.