Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Intel Slumps, Starbucks Edges Higher
Chips giveth and chips taketh away.
The semiconductor stocks pushed an otherwise sluggish broader market into the green today with some large moves on stellar numbers.
But Intel's (NASDAQ:INTC) report after the bell today is likely to rain on that parade tomorrow.
Intel’s revenue and guidance came in below expectations, sending shares down 7% after hours.
Starbucks (NASDAQ:SBUX) could provide a little lift to the market at tomorrow’s open if it can hold onto its small postmarket gain of 1%.
Starbucks beat on the top and bottom lines for its latest quarter and also beat comparable sales estimates. But it lowered the top range of its full-year comparable sales guidance.
2. Colgate-Palmolive Weights In
As usual, Friday’s are slower for earnings, but consumer products giant Colgate-Palmolive (NYSE:CL) will report numbers.
On average, analysts expect that Colgate earned 73 cents per share in its most recent quarter on sales of about $3.8 billion.
Colgate stock has been volatile and is down over the last three months.
Shares took a tumble with the rest of the market in December, but have risen in 2019, helped by an upgrade earlier this month by Goldman Sachs (NYSE:GS) to buy from neutral the expressed optimism on the company’s organic sales.
3. Oil Ignoring the Numbers?
Looking at the data, oil prices should’ve ended lower today. But geopolitics overshadowed a huge and unexpected rise in U.S. oil inventories and a sharp build in gasoline stockpiles.
So, while tomorrow brings the weekly Baker Hughes rig count, traders may be more interested in the comments from world leaders about Venezuela.
The U.S. has drafted a slate of potential restrictions on Venezuelan crude exports, but hasn’t decided whether to deploy them, Bloomberg reported, citing people familiar with the matter. It added that the crisis in Caracas could expedite OPEC’s goals of balancing the supply-demand in oil and boosting crude prices or risk market havoc.
The U.S. has called for a meeting at the UN Security Council on Saturday to discuss the crisis in that country.