Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Apple Results Hit Targets
Apple will likely lend support to stocks at the open tomorrow after it reported profit and revenue just above analysts’ forecasts.
The company also guided its second-quarter revenue in line with consensus estimates.
Shares of Apple (NASDAQ:AAPL) rose 5.4% in postmarket trading.
Chipmaker Advanced Micro Devices (NASDAQ:AMD) should also help techs. It gained more than 8% after hours, despite missing on quarterly revenue targets, after it said it sees 2019 revenue growth in the high single digits.
2. Fed Day; Pending Home Sales Scheduled
The Federal Reserve will announce its decision on interest rates tomorrow, although there’s little suspense.
There is a 99% chance that the FOMC keeps rates steady in a range of 2.25% to 2.5%, according to Investing.com’s Fed Rate Monitor Tool.
Of more interest will be Fed Chairman Jerome Powell’s press conference, with expectations that he will reiterate that the Fed can be patient on monetary policy.
The decision comes at 2 PM ET (19:00 GMT), and the press conference is slated for 2:30 PM ET.
Even though the partial government shutdown has ended, there’s still a knock-on effect with economic data.
The Bureau of Economic Analysis is delaying the releases of advance fourth-quarter GDP and December personal spending.
No new date for the reports has been set yet.
But there will be the latest numbers on pending home sales at 10 AM ET (15:00 GMT).
On average, economists expect the National Association of Realtors to report a 1.1% rise in pending home sales for December.
3. Oil Inventories Arrive
The weekly oil inventories numbers continue to have a big impact on the market.
The Energy Information Administration will issue its weekly figures at 10:30 AM ET (15:30 GMT).
In the previous week to Jan. 18, the EIA announced a larger-than-expected build of 4.05 million barrels in gasoline stockpiles to a record high 259.6 million barrels.
Day Ahead: Top 3 Things to Watch
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