Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
Goldman Sachs and Bank of America report for earnings duty
Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC) will pick up the ‘earnings baton’ for banks, as both are slated to report second-quarter earnings before US markets open on Tuesday.
Investor expectations for the duo of earnings reports remain elevated, after three out of the four biggest US banks — JPMorgan Chase & Co (NYSE:JPM), Citigroup Inc (NYSE:C) and Wells Fargo & Company (NYSE:WFC) — reported earnings that topped analysts’ expectations last week.
Goldman Sachs is expected to report earnings of $3.40 per share on $7.52 billion in revenue while Bank of America is expected to report earnings of $0.43 per share on $21.8 billion in revenue.
Investors are likely to scrutinise forward guidance from both banks amid concerns of a slowdown in trading revenues.
IBM kicks off tech earnings
International Business Machines (NYSE:IBM) reports second-quarter earnings after the US market closes on Tuesday, but investor sentiment remains bearish, as the tech giant has posted negative revenue growth since Q1 2012.
Investors will parse the earnings report for further indication that IBM’s transition to software continues unabated, as the company makes a big push into attractive areas such as cloud, blockchain and artificial intelligence.
IBM is expected to report earnings of $2.75 per share on $19.47 billion in revenue.
UK Inflation data and BoE Carney on tap
GBP/USD could be one of the currency pairs to watch ahead of an appearance from Bank of England governor Mark Carney and inflation data due Tuesday.
Consumer and producer inflation, measured by the consumer price index and producer price index, respectively, are slated to be released on Tuesday.
As well as fresh inflation data, investors look forward to an appearance from Bank of England governor Mark Carney amid growing expectations that the Bank of England will tighten monetary policy later this year.