Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow.
1. A Tame Monthly PPI Rise Expected
Tomorrow morning kicks off with the latest reading on wholesale inflation from the Labor Department.
With rising bond yields becoming a major bone of contention for stocks, any inflation numbers that could push the Federal Reserve to a more hawkish tilt will be scrutinized.
The September producer price index (PPI) arrives at 8:30 AM ET (12:30 GMT).
Economists are predicting a of 0.2% for the month, with the at 2.8%.
The , which excludes volatile food and energy prices, is also forecast to have risen 0.2% in September, with a of 2.5% in the last 12 months.
2. Oil Trading Could be Heavy as Hurricane Michael Nears
Oil prices and energy stocks will be in focus again as Hurricane Michael nears the oil-producing Gulf region.
The storm is expected to be the first Category 3 hurricane to hit Florida’s Panhandle since 2005 and threatens more than 300 miles of the Gulf Coast, according to CNN.
Companies operating in the Gulf shut down nearly 20% of their oil production as of Tuesday.
According to forecasts by various weather services, Michael could deliver the most powerful strike in at least a decade on the Panhandle, a 200-mile strip on northwest Florida that’s home to the state’s largest crude and natural gas fields. The Panhandle previously took direct hits from Hurricane Ivan in 2004 and Hurricane Dennis in 2005.
But a Reuters report suggested the hurricane’s track would largely avoid major oil-producing assets in the Gulf, although a change in that path could widen its impact.
rose 0.8% today.
3. Can Snap Hold $7?
Social media investors are facing barrage of headlines and stocks could be active again tomorrow.
The sector has one fewer player now that Google (NASDAQ:) decided to abandon its not-very-popular Google+ after a security breach.
And the sharks are circling Snap (NYSE:), which was pummeled today, losing 6.4% and ending right at $7 a share.
A MoffettNathanson note out today said the company is “quickly running out of money” and might need to raise capital, Bloomberg reported.
The resumption of selling continued after a brief respite Friday when Snap CEO Evan Spiegel set a target for the company .
Before profits, though, investors need to see signs that the company is no longer shedding daily average users. And that may be tough with increased competition, as many Snapchat users are moving to Instagram stories.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.