Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
US macro data on tap
Investors are expected to carefully parse ADP nonfarm employment data due Wednesday, which often serves as a precursor to monthly nonfarm payrolls data slated for later this week.
Economist forecasts private sector job creation grew to 185,000 in July from 158,000 in the previous month.
Later during the session, speeches by Federal Reserve officials Mester and Williams will be closely monitored for any clues concerning monetary policy amid a slump in the dollar on the back of growing uncertainty over whether the Fed will stick to its plan to raise rates at least once more this year.
U.S. crude stockpiles to show fifth-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 fifth-straight week.
Analysts forecast crude inventories fell by about 2.9m barrels in the week ended July 28.
Crude futures have made a volatile start to the week, easing from $50 a barrel, following renewed skepticism over Opec’s ability to tackle the glut in supply after survey data from Reuters showed an uptick in Opec production despite the group’s deal to curb production.
Apple to hit all-time highs?
Shares of Apple could surge to all-time highs on Wednesday, after the tech giant reported earnings that beat Wall Street estimates on both the top and bottom line, easing investor concerns about a possible delay in the launch of the iPhone 8 later this year.
In what was expected to be a subdued quarter for the tech giant, Apple reported earnings of $1.67 per share on $45.4 billion in revenue, ahead of estimates of $1.57 per share on $44.89 billion in revenue, benefitting from better-than-expected iPhone sales.
Apple sold 41 million iPhones during the quarter, a notched above estimates of 40.7 million sales.
Apple Inc (NASDAQ:AAPL) rose more than 5% to $159.71 in after hours trading.