Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Costco Reports; Starbucks Holds Investor Day
On the earnings calendar tomorrow the big names are reporting after the bell, again.
Costco Wholesale (NASDAQ:COST), which everyone treats like a retailer, will issue its results, with analysts expecting a profit of $1.62 per share on sales of around $34.5 billion.
Costco revealed in a preliminary update last week that comparable sales rose 8.8% in its fiscal first quarter. Membership renewal metrics like subscriber renewal rates and overall membership income will likely draw in the bulk of investor attention.
Adobe (NASDAQ:ADBE) will also report, with the Street looking for earnings of $1.89 per share on sales of about $2.4 billion.
And after Under Armour's (NYSE:UA) big drop today after its investor day update, investors may be paying more attention to those kind of events for headlines. Starbucks (NASDAQ:SBUX) and Delta Air Lines (NYSE:DAL) hold investor days tomorrow.
2. Jobless Claims Decline Expected
The weekly jobless claims numbers will likely be the focus of tomorrow’s economic indicators and arrive at 8:30 AM ET (13:30 GMT).
On average, economists expect that claims for first-time unemployment benefits fell slightly to 226,000.
The latest figures on import and export prices arrive at the same time.
The import price index is forecast to have fallen 1% in November, with export prices down 0.1%.
3. ECB Rate Decision on Tap; May Survives UK Leadership Challenge
Those watching the stock index futures action before the bell will know that European events can quickly change the narrative on Wall Street.
Investors will continue to look at developments on Brexit after UK Prime Minister Theresa May survived a party vote of no confidence late today.
In addition, the ECB will announce its interest rate decision at 7:45 AM ET (12:45 GMT). No change is expected, but there may be more for traders to digest at the press conference at 8:30 AM ET.
And it’s not just stock traders who will be watching. The bullish case for gold of late is pointing to instability and slowing growth in Europe as reason to hold the precious metal.
"Some economists over the pond have been quietly starting to use the word 'recession'," Walter Pehowich, executive vice-president at Dillon Gage Metals in Addison, Texas, said.