Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Wholesale Inflation Expected to Climb
The economy will remain in focus tomorrow, with the earnings calendar pretty barren.
The government will report the latest figures on wholesale inflation at 8:30 AM ET (12:30 GMT).
The producer price index (PPI) is forecast to have risen 0.2% in August and 3.2% year on year. The core PPI, which excludes volatile food and energy prices, is predicted to have risen 0.2% as well, with a year-on-year gain of 2.7%.
Wholesale inflation is a leading indicator, as price gains on the supplier level later move down to the cash register. A bigger-than-expected rise in the PPI could boost the odds for the Federal Reserve to raise rates at its December meeting, in addition to the September hike expected.
2. Beige Book and Fed Speakers on Calendar
Later in the day there will be more insight into the Fed’s thinking.
The Fed’s Beige Book assessment of economic conditions in each of the central bank’s districts comes out at 2:00 PM ET (18:00 GMT).
Ahead of that, at 9:30 AM ET (13:30 GMT), St. Louis Fed President James Bullard will speak on the economy and monetary policy at the CFA Society in Chicago.
And Fed Governor Lael Brainard will address the Detroit Economic Club at 12:45 PM ET (16:45 GMT).
There is currently more than an 83% that the Fed will also raise rates in December, according to Investing.com’s Fed Rate Monitor Tool.
3. Apple's Event Building Tech Excitement
Tech investors will be zeroing in on what Apple (NASDAQ:AAPL) announces at its special event tomorrow, where new product launches are expected.
Apple rose about 2.5% Tuesday in anticipation of what it might unveil tomorrow at 10:00 AM PT (17:00 GMT).
The highlight of the Apple event will be the trio of new smartphones the tech giant will launch including the iPhone XS, iPhone XS Max, and the lower priced LCD iPhone, Goldman Sachs (NYSE:GS) said in a recent note to clients.
Apple has found itself in the crosshairs of the U.S.-China trade dispute, with President Donald Trump saying the company would be wise to make its components in the United States to avoid tariffs.