Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Microsoft’s Earnings Solid, but AMD Pummeled
After today’s tech stock hammering there will be one glimpse of hope for bulls following Microsoft's (NASDAQ:MSFT) strong earnings report after the bell.
Microsoft shares rose 4.5% in after-hours trading.
But the semiconductor sector will still be a major problem for the sector.
Advanced Micro Devices Inc (NASDAQ:AMD) reported revenue after the bell that was below Street forecasts and also guided revenue down. The stock had already been selling off on the day due to weak guidance from other chipmakers.
AMD stock plunged 17% after hours, adding to the 9% loss it saw in the regular session.
Meanwhile, Tesla (NASDAQ:TSLA) impressed the market after reporting a strong profit when analysts were expecting a loss. Revenue also topped expectations.
The stock surged 12% postmarket.
2. Twitter Earnings on Tap Before the Bell
It’s a tech earnings extravaganza tomorrow, starting with Twitter (NYSE:TWTR), which is now reporting before the bell.
After the close of trading the major reports come from Amazon (NASDAQ:AMZN) and Google parent Alphabet (NASDAQ:GOOGL).
Also ahead of trading there are earnings reports from healthcare, Bristol-Myers Squibb (NYSE:BMY), energy, ConocoPhillips (NYSE:COP), communication services, Comcast (NASDAQ:CMCSA), and transportation, Union Pacific (NYSE:UNP).
Southwest Airlines (NYSE:LUV) and Dunkin (NASDAQ:DNKN) will also weigh in.
Disappointing earnings before the bell weighed on stocks throughout trading today, with investor concerns rising about in the impact of tariffs and trade battles and weak guidance in the tech sector.
3. More Housing Data, Durable Goods Orders Coming
The economic indicators heat up tomorrow, a day before the all-important GDP numbers arrive.
Attention will likely focus on housing again, following today’s disappointing new home sales figures.
The latest data on pending home sales will come at 10:00 AM ET (14:00 GMT).
On average, economists predict that pending home sales fell 0.1% in September, compared with a 1.8% decline in August.
Durable goods orders come out at 8:30 AM ET. Economists are predicting that orders for long-lasting goods fell 1.3% in September. Core durable goods orders, which exclude transportation, are forecast to have risen 0.5%.