Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Consumer and Retail Lead Economic Calendar
Shopping takes the spotlight in economic indicators with numbers on retail sales and consumer sentiment arriving.
The Commerce Department issues its retail sales data at 8:30 AM ET (12:30 GMT), with a solid rise expected for August, although a slightly lower one from the month before.
Economists expect that retail sales rose 0.4% last month and that core retail sales, which exclude auto sales, rose 0.5%.
At 10:00 AM ET (14:00 GMT), the University of Michigan will release its preliminary measure of consumer sentiment for September.
The consumer sentiment index is expected to have risen to 96.7 from 96.2 in August. There will also be numbers on current consumer conditions and inflation expectations.
In addition, investors will get data on business inventories for July and August industrial production.
And for Fed watchers, Chicago Federal Reserve President Charles Evans will speak at 9:00 AM ET (13:00 GMT) at the Northeast Indiana Regional Economic Forum.
2. Dave & Buster’s Weighs In
Along with economic numbers, the earnings calendar’s one entry before the bell tomorrow will also give insight on how dollars are being spent by the consumer at the mall.
Restaurant and video game parlor chain Dave & Buster’s Entertainment (NASDAQ:PLAY) reports its latest quarterly figures.
Analysts, on average, expect that the company earned 67 cents per share on revenue of about $311 million. Comparable sales will be in focus. The company reported a 4.9% drop in its last quarter, which beat estimates. Analysts expect a drop of about 2.6% in the most recent quarter, according to S&P Capital IQ.
3. Rig Count Caps a Busy Week for Oil
Oil traders will be busy tomorrow as crude’s price swings look set to continue after conflicting data points and conflicting signals on trade.
The Baker Hughes rig count data will be watched tomorrow for ongoing signs of tightening U.S. output, which fell to 10.9 million barrels a day last week.
Crude futures for October delivery settled down 2.5% today.
Crude oil output in OPEC climbed in August by 420,000 barrels a day, to average 32.63 million barrels a day, the International Energy Agency said today.
On the demand side, the agency warned that oil-demand growth could come under pressure as a stronger greenback could raise the cost of importing energy. The international energy watchdog also cited an "escalation of trade disputes" as another headwind to demand growth.