Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. PPI, Jobless Claims Scheduled
More inflation data, this time on the wholesale side, comes tomorrow following today’s core retail inflation that rose less than expected.
The Labor Department will release the March producer price index (PPI) at 8:30 AM ET.
Economists expect that the PPI rose 0.3% last month, according to forecasts compiled by Investing.com.
The core PPI, which excludes volatile food and energy prices, is forecast to have risen 0.2%, with the year-on-year core PPI ticking down to 2.4%.
At the same time the Labor Department will also release weekly initial jobless claims figures.
Claims for first-time unemployment benefits are expected to rise to 211,000 after dropping to their lowest levels since 1969 the week before.
2. Investors Anxious for Disney+ Streaming Details
Wall Street analysts are pretty excited about Walt Disney 's (NYSE:DIS) investor day, which comes after the bell tomorrow. The stock caught two sell-side upgrades this week going into the event.
S.G. Cowen raised the stock Tuesday to outperform from market perform, saying, “Thursday’s investor day will likely be a deck-clearing event for sentiment.”
On Wednesday, BMO boosted its rating to outperform from market perform.
What everyone will be looking for tomorrow is details on the company’s upcoming streaming service Disney+, which is expected to go toe-to-toe with Netflix (NASDAQ:NFLX), armed with Disney’s stable of classic animated films and the Star Wars franchise.
While investors have a good idea of the content, more precise details like pricing will be what the market wants now.
The company may also update investors on its integration of newly-purchased Fox and on its theme parks. Its Star Wars: Galaxy’s Edge land opens in Disneyland on May 31.
The investor day presentation starts at 5:00 PM ET (21:00 GMT). Disney was up 0.26% on Wednesday and is up 6.85% this year. The gain is 20th best among the 30 Dow stocks.
3. Fed Speakers Galore
After the market digests today’s Federal Reserve minutes, tomorrow brings a bevy of Fed speakers.
At 9:30 AM ET (13:30 GMT), Fed Vice Chairman Richard Clarida will give a speech on U.S. economic outlook and monetary policy at the Institute of International Finance Washington Policy Summit.
At 9:35 AM ET, New York Fed President John Williams will deliver the keynote address at the Association for Neighborhood & Housing Development conference.
And at 9:40 AM ET, St. Louis Fed President James Bullard will speak at the Community Development Foundation of Tupelo, Miss.
Later in the day, Minneapolis Fed President Neel Kashkari will answer questions on Twitter at 2:00 PM ET.
And Fed Governor Michelle Bowman will give a speech entitled "Community Banking in the Age of Innovation" in San Francisco at 4:00 PM ET.
Meanwhile, Fed Chairman Jerome Powell is attending the House Democratic Caucus’ three-day retreat in Virginia, but market-moving quotes are unlikely.