Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Payrolls Expected to Rise 165,000
The employment report will dominate market tone before the bell Friday.
The Labor Department will issue the January numbers at 8:30 AM ET (13:30 GMT).
On average, economists expect that nonfarm payrolls rose by 165,000 for the month and that the unemployment rate stayed at 3.9%.
Average hourly earnings are expected to post a monthly gain of 0.3%.
At 10 AM ET, the Institute of Supply Management will release its manufacturing purchasing manager’s index (PMI) for January. Economists forecast a slight tick down to 54.2.
And the University of Michigan will issue its final measure of January consumer sentiment at 10 AM ET, expected to come in at 90.8.
2. Amazon Could Weigh
Amazon (NASDAQ:AMZN) may drag on technology shares tomorrow, with the stock down about 5% in after-hours trading.
On one hand, Amazon handily beat earnings expectations and topped revenue forecasts.
On the other, its revenue guidance fell short of estimates again, its net income guidance looked cautious and its subscription services revenue growth was much lower than recent quarters.
Also in tech, Apple's (NASDAQ:AAPL) battle against other major players continued after it revoked Google's (NASDAQ:GOOGL) enterprise developer certificate, as it did with Facebook (NASDAQ:FB) earlier, for an app that violated policies.
3. Oil Companies, Honeywell to Report
In earnings tomorrow, major energy companies continue to report.
Following better-than-expected results from ConocoPhillips (NYSE:COP) today, Dow components Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) weigh in.
For Exxon, analysts predict a profit of $1.08 per share on revenue of about $71.3 billion.
And for Chevron, forecasts are for earnings of $1.84 a share, with revenue of about $41 billion.
Industrial heavyweight Honeywell (NYSE:HON) will also issue numbers.
And Wall Street might pay a little more attention of earnings from New York Knicks owner Madison Square Garden (NYSE:MSG) after the Knicks reportedly traded star forward Kristaps Porzingis to the Dallas Mavericks today.