Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Facebook, Tesla Earnings Impact
Tesla (NASDAQ:TSLA) may put a dent in market sentiment tomorrow after the automaker reported a loss that was much wider than what Wall Street was expecting. Revenue also came in light.
Tesla said it still looks on track to meet its guidance for vehicle deliveries this year.
But shares lost about 10% following the report in after-hours trading. The shares are down more than 20% this year.
Tech stocks are likely to be dominated by moves in shares of Facebook (NASDAQ:FB).
The social media company topped earnings expectations thanks to better-than-expected average user spend in the second quarter.
Shares of Facebook moved more than 1% higher after the report, but then retreated into negative territory after warning revenue growth might slow in the second half.
2. Tech Earnings Galore: Amazon, Google), Intel and More!
The earnings season kicks up a gear Thursday, with quarterly earnings from tech heavyweights. Intel (NASDAQ:INTC), Amazon (NASDAQ:AMZN) and Google parent Alphabet (NASDAQ:GOOGL) report after markets close.
Intel (NASDAQ:INTC) is expected to report earnings per share of 89 cents for the second quarter on sales of $15.7 billion.
The chipmaker’s data center business, which represents almost a third of total revenue, will likely garner added attention as data center spending has been hurt by a slowdown in China.
With shares of Amazon (NASDAQ:AMZN) up more than 30% year to date and flirting with $1 trillion in market cap, it may take a lot to impress investors tomorrow.
Performance of the company’s North America segment, which accounts for the bulk of revenue, and its cloud services business, Amazon Web Services, will be closely watched.
Amazon (NASDAQ:AMZN) is expected to report earnings of $5.56 a share on revenue of about $62.5 billion, according to estimates compiled by Investing.com.
Alphabet (NASDAQ:GOOGL) is expected to report earnings of $11.10 a share on revenue of $38.2 billion.
Margins likely will be closely watched as the search-engine giant has increased focus on lower-margin businesses like Cloud, YouTube and hardware. The company in the first quarter said that it would ramp up spending on marketing.
3. Jobless Claims, Durable Goods on Tap
Durable goods orders and jobless claims numbers make up the top-tier economic data on the calendar Thursday.
The Commerce Department will report June’s orders for goods lasting three years or more at 8:30 AM ET (14:30 GMT).
Durable goods orders are expected to rebound 0.8% in June following a 1.3% decline in May, according to economists’ forecasts compiled by Investing.com. Core durable goods orders, which exclude autos, are predicted to have risen 0.2% in June compared with 0.4% in the prior month.
Also at 8:30 AM ET, the Labor Department releases its weekly count of the number of individuals who filed for unemployment insurance for the week ended July 20. Economists forecast that initial jobless claims increased to 220,000 from 216,000 previously.