Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. ADP Payrolls Expected to Rise
Employment numbers will highlight tomorrow’s data arrivals before the bell as Friday’s nonfarm payrolls report nears.
The ADP private-sector payrolls numbers will be out at 8:15 AM ET (12:15 GMT).
On average, economists expect that September payrolls rose to 187,000 from 163,000 the month before.
At 10:00 AM ET, the ISM will release its measure of September services activity.
The ISM non-manufacturing PMI is expected to have ticked down to 58.1 last month from 58.5 in August.
2. Lennar Reports Ahead of Trading; Pier 1 After
Homebuilder Lennar (NYSE:LEN) reports earnings before the bell.
Analysts expect that the company earnings slipped from its profit in the year-ago period to $1.18 per share. Sales are expected to come in around $5.6 billion.
Investors will be looking to see if, like KB Home (NYSE:KBH), Lennar is seeing more strong demand, but for lower-end homes where inventory is limited.
Shares of Lennar have struggled this year and are down sharply from a high in January.
After the bell, struggling retailer Pier 1 Imports (NYSE:PIR) issues results. After posting a small profit in the same quarter a year ago, analysts expect the company lost 60 cents per share on sales of about $360 million.
Any upside surprise would be welcome for a stock that is languishing at a level not seen since 2009.
3. API Inventories Gain Underwhelms
Oil prices could resume their march higher tomorrow after inventory numbers this afternoon showed a smaller-than-expected rise last week.
The API said crude stockpiles rose by 907,000 barrels, down from a build of 2.9 million barrels the week before. That was lower than the 1.5 million barrel rise some energy analysts were predicting.
Official inventory data will be released by the U.S. Energy Information Administration tomorrow.
Oil prices took a breather today after a 3% rise Monday on concerns that oil producers won’t be able to make up for supply that will be lost when sanctions go into effect against Iran on Nov. 4.