Breaking News
0

Day Ahead: Top 3 Things to Watch

Stock MarketsAug 09, 2018 04:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. CPI may be another gift to stocks after the flat PPI.

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. Consumer Inflation on Tap

Investors will get a look at some more inflation numbers before many hit the road to get a jump on the weekend.

The consumer price index (CPI) comes out at 8:30 AM ET (12:30 GMT).

Economists expect that the CPI rose 0.2% in July, compared with June, and the year-over-year gain will be 3%. The core CPI, which excludes volatile food and energy prices, is forecast to have risen 0.2% month on month. The year-on-year core CPI gain is expected to be 2.3%.

Wholesale inflation numbers out Thursday were encouraging for the stock market, coming in flat. The core PPI was up 0.1% for the month, up less than anticipated.

Those numbers will give the Fed a lot of room to breathe when it comes to hiking interest rates.

2. M&A Hits Speed Bumps

Mergers and acquisitions, or the termination thereof, are gaining market attention.

Rite Aid (NYSE:RAD) and Albertson’s called off their $24 billion merger. Institutional Shareholder Services advised shareholders last month to vote against the deal because Rite Aid would not get a fair ownership interest.

Rite Aid ended the day down about 12%.

Ad Tribune Media (NYSE:TRCO) walked away from its deal to be acquired by Sinclair (NASDAQ:SBGI) for $3.9 billion. Tribune also sued Sinclair for being too aggressive with regulators. The deal looked already in trouble as the FCC voiced opposition on competition grounds.

Look for more comments tomorrow about Cigna (NYSE:CI) proposed $54 billion takeover of Express Scripts (NASDAQ:ESRX). Carl Icahn recently expressed his opposition to the deal, calling it a “folly.”

Glenview Capital’s Larry Robbins hit back today, supporting the deal.

3. Oil Rig Data Caps a Busy Week for Oil

Oil prices continue to have an impact on the market and energy stocks have been particularly active this past week.

The Baker Hughes U.S. oil rig count comes out tomorrow at 1 PM ET (17:00 GMT). Data on Wednesday showed U.S. oil output fell to 10.8 million barrels a day last week.

"Some traders swooped in and picked up oil as it is relatively cheap today, but there is still a lot of uncertainty surrounding its prospects," said David Madden at CMC Markets.

"The Energy Information Administration report yesterday, pointed to a fall in U.S. demand," Madden said. "Traders are also concerned about China's demand, given the country is locked in a trade spat with the U.S."

Day Ahead: Top 3 Things to Watch
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email