Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow
US macro data on tap
Market participants look ahead to the release of a duo of economic reports on Thursday, which may offer further guidance on the strength of U.S. economy, a day after the Federal Reserve left its benchmark rate unchanged.
The Commerce Department on Thursday is expected to report an uptick in core durable goods orders to 0.4% from 0.3% in the prior month, suggesting an improvement in business sentiment.
On the jobs data front, economists forecast an 8,000 jump to 241,000 in the number of individuals who filed for unemployment insurance for the week ended July 23.
Facebook to lift the nasdaq to record territory?
Facebook Inc (NASDAQ:FB) reported upbeat earnings on Wednesday after the closing bell, beating Wall Street’s expectations on both the bottom and top lines.
The tech giant reported earnings-per-share of $1.32 per share on $9.32 billion in revenue against analysts’ expectations of earnings-per-share of $1.13 per share on $9.2 billion in revenue.
Shares of Facebook edged lower in afterhours over apparent confusion related the company’s recent switch to reporting GAAP numbers but quickly turned positive.
Amazon and Twitter earnings in the spotlight
Twitter releases earnings before US markets open on Thursday, following by Amazon after U.S markets close.
Despite Twitter representing President Trump’s choice of social medial platform, analysts are not expected the social media company to report an increase in active users, after it beat monthly active user estimates in the previous quarter.
Twitter Inc (NYSE:TWTR) is expected to report 328.80 million monthly active users (MAU), marginally above the 328 million MAU in the previous quarter.
Wall Street estimates earnings to fall to 5 cents, down 13 cents from the same period a year ago.
Meanwhile, Amazon is expected to deliver solid results, following a raft of positive updates in the second quarter.
In July Amazon said that sales from its sales event, Prime Day, reached record levels, surpassing its 2016 Black Friday and Cyber Monday results.
Shares of Amazon.com Inc (NASDAQ:AMZN) breached $1,000 for the first time earlier this year, as investors cheered strong results from its core retail and cloud computing businesses.
While Amazon at times has been reluctant to divulge detailed information on its prime subscriber growth, analysts think that U.S. prime members will continue to drive the majority of Prime’s gross merchandise value (GMV) – a measure used to gauge the performance of an e-commerce site’s performance – as the U.S. accounts for about 70% of Prime subscription.
Amazon is expected to report earnings per share of $1.41 on revenue of $37.2 billion.