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Day Ahead: Top 3 Things to Watch

Stock MarketsMar 05, 2019 05:54PM ET
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© Reuters. - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. First of the Week’s Jobs Numbers Arrive

The road to Friday’s nonfarm payrolls report begins in earnest tomorrow with the release of ADP’s measure of private sector employment for February.

The report comes at 8:15 AM ET (13:15 GMT).

Economists, on average, expect that private nonfarm payrolls rose by 189,000 last month, down from a gain of 213,000 in January.

The ADP number has topped forecasts in four of the last five months.

The December trade balance figure is also on the calendar, coming at 8:30 AM ET.

The U.S. trade deficit is expected to widen to $57.9 billion.

2. Retail Leads the Earnings Parade Again

Stocks scheduled to report earnings Wednesday have a decided retail bent again.

BJ's Wholesale (NYSE:BJ), the operator of wholesale stores, is expected to report a profit of 36 cents a share according to analysts polled by Revenue is forecast at $3.36 billion.

Teen retailer Abercrombie and Fitch (NYSE:ANF) is forecast to earn $1.15 a share on revenue of $1.13 billion.

Discount store operator Dollar Tree (NASDAQ:DLTR) is seen reporting $1.92 per share on sales of $6.19 billion.

Fashion retailer Chico's FAS (NYSE:CHS) is forecast to report a loss of 9 cents a share with revenue at $516.4 million.

And American Eagle Outfitters (NYSE:AEO) earnings are expected to hit 42 cents a share. Revenue is forecast at $1.26 billion.

Away from retail, Hamilton Beach (NYSE:HBB), best known for blenders and other kitchen appliances, is forecast to report $1.50 a share in earnings, according to analysts polled by Revenue is forecast at $258.1 million.

Rosetta Stone (NYSE:RST), which sells language speaking and learning programs, is expected to show a loss of 38 cents in the quarter. Revenue is forecast at $43.8 million, down 5.6% from a year ago.

And Brown Forman (NYSE:BFb), the big spirits and wine company, is forecast to report 45 cents a share in earnings, up from 41 cents a year ago. Revenue is forecast at $910.7 million, up about 5% from a year ago.

3. Oil Stockpile Rise Expected

A fresh batch of petroleum data from the Energy Information Administration (EIA) on Wednesday is expected to show a rise in U.S. crude stockpiles for the week ended March. 1.

Analysts forecast crude inventories rose by about 1.2 million barrels last week.

U.S. crude production is also expected to garner attention after the EIA reported an uptick to a record 12.1 million barrels a day in its previous report.

The data comes as the American Petroleum Institute reported Tuesday that weekly crude stock piles rose by 7.29 million barrels last week, compared with a 4.2 million draw in the prior week.

Crude oil futures settled 3 cents lower at $56.56 a barrel after Libya's National Oil restarted limited production at its giant Sharara oil field.

Day Ahead: Top 3 Things to Watch

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Benzel Kruger
Benzel Kruger Mar 06, 2019 8:04AM ET
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I can't wait
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