Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. JOLTS Report on Tap
More figures on the U.S. employment situation arrive tomorrow, as the Job Openings and Labor Turnover Survey (JOLTS) is released at 10:00 AM ET (14:00 GMT).
Economists predict that the numbers for July ticked down to 6.646 million from the previous report.
The recent numbers, including the payroll report, show a strong labor market. But there are concerns that the growing number of people finding jobs is now putting upward pressure on wages, leading to inflation.
The Federal Reserve is expected to raise interest rates to keep price inflation in check when it meets Sept. 25-26.
At the same time the latest figures on wholesale inventories come out. A rise of 0.7% in July is expected, the same as the gain seen in June.
2. Oil Traders Brace for Impact of Hurricane Season
Oil prices will likely be volatile as Hurricane Florence heads towards the East Coast of the United States.
While the storm is not expected to disrupt oil production, there is some concern on the part of traders that a severe storm could dent demand for oil as people and businesses hunker down.
There is also the potential for output as well as demand disruption as storms Isaac and Helene may hit energy production, according to Phil Flynn, senior market analyst at Price Futures Group.
At 4:30 PM ET (20:30 GMT), the API will release its weekly crude stockpiles report. Last week inventories fell by 1.2 million.
3. More Retail Earnings Arrive
The earnings calendar remains light, but specialty retailer Francesca's (NASDAQ:FRAN) will weigh in with numbers ahead of trading.
On average, analysts expect that the company earned 5 cents per share in its most recent quarter, on sales of about $121 million.
The stock has been hard hit in the last month, dropping from around $7.50 a share to near $6.
Also in the retail sector, convenience store chain Casey's General Stores (NASDAQ:CASY) will report. Analysts predict a profit of $1.66 per share on sales of about $2.6 billion.