Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Nike Earnings on the Calendar
Nike Inc (NYSE:NKE) reports earnings after the bell tomorrow and while investors will pore over the numbers as usual, expect additional headlines and questions about its recent decision to feature former NFL quarterback Colin Kaepernick in an ad.
On average, analysts expect that the athletic wear giant will report a profit of 62 cents per share on revenue of about $9.9 billion.
Nike courted controversy using Kaepernick in its anniversary “Just Do It” campaign, including a presidential condemnation. President Donald Trump has been a vocal critic of Kaepernick and all NFL players who kneel during the national anthem to protest racism.
Nike stock sold off in the session after the ad debuted, but has been climbing steadily since.
2. Consumer Confidence Numbers Arrive
The Federal Open Market Committee kicks off its two-day meeting tomorrow and while the market waits for Wednesday’s decision, the latest numbers on the consumer will arrive.
The Conference Board will release its consumer confidence measure for September at 10:00 AM ET (14:00 GMT).
Economists expect that the index edged down to 132.2 from the month before.
3. Jabil, KB Home Also Weigh In
Apart from Nike, there will be some more results to digest as the earnings calendar begins to pick up.
Ahead of trading, Jabil Circuit (NYSE:JBL) will release quarterly numbers. A rise on the top and bottom lines from the year-ago period is expected.
Shares are up from its last report date, thanks to a strong rally since the middle of August.
After the bell, KB Home (NYSE:KBH) will report. Analysts are forecasting a profit of 77 cents per share on sales of $1.26 billion.
Any commentary on the outlook for the housing market will be welcomed. Housing indicators had been showing some fragility in that part of the economy but have shored up recently.