Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
1. Fed Speak, Total Vehicle Sales In Focus Amid Ongoing Trade War Fears
There’s little on the economic calendar Tuesday for top-tier economic data, as Fed officials Kashkari and Brainard are slated to deliver speeches, while total vehicle sales will likely be monitored for clues on the underlying strength of the US auto industry.
Minneapolis Federal Reserve Bank President Neel Kashkari is scheduled to speak at 09:30 ET, while Fed Governor Lael Brainard is due to deliver a speech at 16:30 ET.
Fed governor Lael Brainard’s speech is likely to attract added attention after the governor adopted a more hawkish in March. Brainard said should the economy continue to progress it will “likely be appropriate soon to remove additional accommodation, continuing on a gradual path."
Total vehicle sales for March, meanwhile, are expected to show an decline to 16.9 million from 17.08 million the previous month.
Escalating U.S.-China trade war tensions, however, could continue to drive investor sentiment after US stocks fell sharply Monday before paring of some of their losses, with the Dow closing more than 400 points lower.
2. Crude Supplies to Rise for Second-Straight Week?
Traders look ahead to a fresh batch of crude oil inventory data from the American Petroleum Institute due Tuesday after data last week showed crude inventories rose sharply.
The American Petroleum Institute reported crude oil stockpiles rose by 5.321 million barrels for the week ended March 29. That was well above the 1.643 million barrel increase reported by the Energy Information Administration during the same period.
Crude oil futures started the month on the back foot, settling 3% lower at $63.01 a barrel as risk-off sentiment, forced traders to flee riskier assets.
3. Tesla to Pare Losses as Q1 Production Update Draws Closer?
Shares of Tesla Inc (NASDAQ:TSLA) fell 5% on Monday ahead of its quarterly production numbers for its Model 3 sedan slated for sometime this week.
The fall in Tesla comes despite an internal email obtained by Jalopnik on Monday, suggesting the company has achieved its 2,000 per week Model 3 production target.
"If things go as planned today, we will comfortably exceed that [2,000 target] over a seven day period...this is already double the pace of 2017," and could reach "four times faster than last year" Musk wrote in the email, obtained by Jalopnik.
The email suggests that the carmaker will beat Wall Street expectations for units of Model 3 production of between 1,500 to 1,700 per week.