Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Big Day for Dow Earnings
Earnings come fast and furious before the bell tomorrow, including from a number of Dow components that will grab the headlines.
3M (NYSE:MMM), Caterpillar (NYSE:CAT), United Technologies (NYSE:UTX), Verizon (NYSE:VZ) and McDonald’s (NYSE:MCD) will all weigh in ahead of trading.
Along with the obvious beat or miss on earnings and revenue, 3M and Caterpillar results will be examined to see any impact from President Donald Trump’s trade battles, especially with China.
Investors in Verizon will be looking for more clues on how the company plans to battle rivals in content, with AT&T (NYSE:T) nabbing Time Warner.
United Tech will be talking more about its acquisition of Rockwell Collins (NYSE:COL).
And of special interest in McDonald’s results will be any information on delivery and automated ordering, which has become part of the fast food landscape revolution.
2. Two Trump-Tied Names Also Report
Other companies of note reporting before the bell are Lockheed Martin (NYSE:LMT), Harley-Davidson (NYSE:HOG) and JetBlue (NASDAQ:JBLU).
Politics come into play in the first of those names.
Analysts on the call will likely ask Lockheed what impact a further deterioration in U.S-Saudi relations would have on the company and how much it is relying on an arms deal Trump has touted as essential to provide U.S. jobs.
Harley-Davidson was, at one point, the face of the Trump trade wars and it will be interesting to see if tariffs are still hurting its business and if being decried by the president has had a big impact or was just quarterly noise in the end.
JetBlue will give further insight into how much higher fuel costs hit the airline industry as a whole.
3. Oil Prices Could Hinge on Turkey PM Speech
Oil prices were little changed today, but that may be the calm before the storm.
Crude could move sharply if, as expected, Turkish Prime Minister Recep Tayyip Erdogan gives a speech about the death of journalist Jamal Khashoggi that implicates Saudi Arabia in a premeditated plot.
Erdogan has promised the “naked truth” in his speech to parliament.
That could rock Western and Saudi relations and lead to speculation of a loss of power by Crown Prince Mohammed bin Salman. This, in turn, could lead to bets that Saudi Arabia will disrupt crude production to use as leverage against any moves against it, like sanctions, despite its assurances to the contrary.
Trump said Monday that he is “not satisfied” with the current Saudi explanation of Khashoggi’s death.