Investing.com - Here are three things that could rock the market tomorrow.
1. Amazon Keeps Earnings Assembly Line Rolling
As earnings season rolls on, another of the famed FAANG stocks reports numbers tomorrow.
Amazon.com (NASDAQ:AMZN) will issues earnings after the bell Thursday, reporting on its all-important holiday quarter with investors curious for more updates on how one-day shipping is shaking out.
On average, analysts expect that the retail giant will report a profit of $4.05 per share on sales of nearly $86 billion.
Earlier this week, Benchmark raised its target on Amazon to $2,300 from $2,100, while keepings its buy rating.
“We expect another record revenue holiday quarter, which could eclipse the high end of guidance thanks to share gains from the impressive, aggressive, one-day shipping rollout,” analyst Daniel Kurnos wrote, according to Barron’s.
The stock is up just a little more than 5% in the last three months, trailing the S&P.
Also reporting tomorrow postmarket is Dow component Visa (NYSE:V).
Visa (NYSE:V) is expected to post earnings of $1.46 a share on revenue of about $6 billion.
Fellow Dow component Verizon Communications (NYSE:VZ) issues numbers before the bell, with consensus estimates for profit at $1.14 per share on revenue of nearly $35 billion.
Another blue-chip index member, Coca-Cola (NYSE:KO), reports ahead of trading, too.
Analysts are looking for earnings of 44 cents per share on revenue of nearly $8.9 billion.
2. First 4Q GDP Numbers Arrive
Just like there’s no let-up in earnings there’s no let-up on the economic front either on Thursday.
The market gets the first numbers of fourth-quarter gross domestic product (GDP) from the Commerce Department at 8:30 AM ET (13:30 GMT).
The advance measure of GDP is expected to come in at an annual rate of 2.1%, the same as the final measure of fourth-quarter economic growth, according to economists’ forecasts compiled by Investing.com.
At the same time there will be the weekly initial jobless claims numbers.
Claims for first-time unemployment benefits are forecast to have ticked up to 215,00 last week.
3. BoE up in the Air
The Fed decision today lived up to its billing as a foregone conclusion, with rates staying on hold and a very neutral statement.
The Bank of England looks to be the opposite tomorrow, with a lot of uncertainty about what the decision will be at 07:00 GMT.
Interest rates are expected to be kept at 0.75%, according to economist forecasts compiled by Investing.com.
But the derivatives markets are pricing in about a 50% chance of a cut to 0.5%, according to the FT.
If the BoE holds, it will leave the door open for further easing later in the year, Bank of America (NYSE:BAC) said today.
"Any relief rally in sterling will prove short-lived as we believe markets are likely to roll out their rate cut expectations into the coming months," BofA said.