Investing.com - Here’s a preview of the top 3 things that could rock U.S. markets tomorrow.
1. Inflation Data, Earnings in the Spotlight
Economic indicators are likely to set the market tone for the open Wednesday. Wholesale inflation figures should get the most attention.
Economists expect both to have risen by 0.2%.
The latest data on wholesale inventories also arrives before the bell.
Looking to earnings, wholesale industrial and construction supplier Fastenal (NASDAQ:FAST) reports earnings before the bell tomorrow. Shares took a hit when the stock was downgraded to neutral from buy by Baird last Tuesday, but have since rallied as earnings approached.
2. Inventories and OPEC Should Call Oil Direction
Among stocks, energy shares will likely be active as investors get the latest oil inventory figures from the Energy Information Administration.
OPEC’s monthly report will also give investors and traders a look at how the cartel is dealing with demands for more supply to keep a lid on prices.
Crude Oil WTI Futures settled up 26 cents to $74.11 on Tuesday.
3. Tough Trade Talk to Continue With Trump in Europe?
The prospect of further trade battles will continue to have an impact on the markets, especially as U.S. President Donald Trump travels to Europe.
Trump’s first meeting will be with NATO in Brussels on Wednesday. Along with his calls for European nations to pay more for NATO defense, he may take the opportunity to decry what he sees as unfair trade practices by the European Union.
The president tweeted on Tuesday that the U.S. loses $151 billion on trade with the EU and that the single bloc charges the U.S. big tariffs and enacts trade barriers.
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