Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
1. US Labor Market Vacancy Data in Focus
The US Bureau of Labor Statistics survey to measure job vacancies for March could garner added attention as it is the sole top-tier U.S. economic report slated for Tuesday.
The U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTs) report at 10:00 am ET, is expected to show job openings in March fell to about 6.02 million.
The Federal Reserve's May policy statement, released last week, showed policymakers were optimistic that labor market conditions would remain strong. Tighter labor markets, however, have yet to translate into a meaningful boost in wages, much to the dismay of policymakers and market participants.
Atlanta Fed President Raphael Bostic said on Monday it remains puzzling why the low unemployment rate has not translated into wage growth.
Yet, the lack of wage growth has not significantly weighed on inflation, which rose to 1.9% in March, just shy of the Fed’s 2% target.
The dollar rose against a basket of major currencies on Monday, supported by an ongoing slump in EUR/USD as German factory orders fell short of economists’ forecasts.
2. API Data, Trump's Iran Decision on Tap
The Iran nuclear deal will remain front and centre on Tuesday after President Donald Trump tweeted that he would announce a decision on the deal Tuesday afternoon, ahead of the May 12 deadline.
Traders will look ahead to a fresh batch of crude oil inventory data from the American Petroleum Institute (API) due Tuesday after data last week showed a second-straight weekly build in U.S. crude stockpiles.
The American Petroleum Institute reported last Tuesday crude oil stockpiles rose by 3.427 million barrels. The Energy Information Administration’s weekly report, however, showed a much larger build of 6.218 million barrels.
The uptick in U.S. output has been largely overshadowed by ongoing expectations for a fall in global crude supplies amid weaker production in Venezuela and expectations the U.S. will impose new sanctions against Iran.
Crude oil futures on Monday settled higher above $70 a barrel for the first time since late-2014.
3. Disney Box Office Hits to Drive Earnings Beat?
As earnings season draws to a close, Walt Disney Company (NYSE:DIS) is one of the notable names slated to report fiscal second-quarter results after US markets close on Tuesday.
The results come as Disney attempts to readjust to changing consumer viewing trends away from broadcast television toward on-demand internet content, with the launch of its ESPN+ app.
Disney has pinned its hopes on the app offsetting the ongoing ESPN subscriber losses in recent years ahead of its plan to launch a broader streaming service next year.
Disney’s other revenue segments including parks and theater is expected to report good performance, with the latter likely boosted by the release of the Black Panther movie, which had dominated the box office in February.
The parks segment, meanwhile, is expected to have benefited from rising ticket prices and longer stays, contributing to an uptick in consumer spending.
Disney is expected to report earnings of $1.50 per share on $12.34 billion in revenue.
As well as Walt Disney Company (NYSE:DIS), Marriott International Inc (NASDAQ:MAR), Valeant Pharmaceuticals (NYSE:VRX), Electronic Arts (NASDAQ:EA), The Wendy’s Co (NASDAQ:WEN), Dean Foods Company (NYSE:DF), Etsy Inc (NASDAQ:ETSY), Jd.Com Inc Adr (NASDAQ:JD), and Microchip Technology (NASDAQ:MCHP) are slated to report earnings on Tuesday.