Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
U.S. crude oil stockpiles to show sixth-straight weekly decline?
A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles fell for a sixth-straight week.
Analysts forecast crude inventories fell by about 2.7m barrels in the week ended Aug 4.
Crude futures have started the week on the back foot, struggling to settle above $50 amid an uptick in production from major oil producers.
Crude oil prices settled $0.22 lower at $49.17 on Tuesday as market participants await the outcome of a two-day compliance meeting of Opec and non-Opec members.
It's rate decision day... In New Zealand
The Reserve Bank of New Zealand (RBNZ) is slated to reveal its decision interest rates on Wednesday, widely expected to remained unchanged at 1.75%.
Investors, however, will parse the policy statement on Wednesday to establish whether the central bank continues to believe that rates should be kept “lower for longer” amid declining inflation and labour market data and a cooling housing market.
Ahead of the RBNZ decision on interest rates, NZD/USD fell 0.49% to $0.7325.
Walt Disney to drag markets down
Walt Disney Company (NYSE:DIS) could be stock to watch on Wednesday, following the release of mixed third quarter results, as earnings topped estimates but revenue fell short.
Walt Disney earned $1.58 per share in the third quarter, above the consensus analyst forecast for $1.58. Revenue was $14.24 billion, $180 million short of what analysts had forecast.
Shares of Walt Disney were down almost 3% to $104 in the after hours.