Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow
1. Housing Data on Watch
The latest update on the U.S. housing sector will likely be met with keen interest from investors for insight into whether a recent uptick in mortgage rates has damped home building activity.
The Commerce Department will report on housing starts and building permits for October at 8:30 AM ET (13:30 GMT).
Economists expect that increased to an annual rate of 1.320 million last month up from 1.256 million units in September.
an indication of future demand, are predicted to show a decline to 1.385 million from 1.391 units in September.
Clues on monetary policy will also be in focus, with a speech from New York Federal Reserve President that starts at 9.00AM ET (14:00 GMT).
Williams has previously said the Fed should keep rates steady as the economy is in a good place.
2. Kohl’s, TJX (NYSE:) Earnings Due
Kohls (NYSE:) reports quarterly results before the market open.
The report will be scrutinized for further clues on whether the department store’s expanding relationship with Amazon (NASDAQ:) has continued to boost footfall and underpinned same store sales growth.
Kohls is earnings of 86 cents a share on revenue of $4.39 billion. A year ago, Kohls reported 98 cents a share in earnings on revenue of $4.39 billion.
As well as earnings and same store sales, guidance on the fourth quarter, which includes the crucial holiday season, will draw attention.
TJX (NYSE:) is forecast to of 66 cents on revenue of $10.31 billion. A year ago, TJX, which operates the TJ Maxx chain, earned 63 cents on revenue of $9.83 billion.
The retailer’s comparable store sales will be in focus after it previously raised its full-year guidance thanks to strong performance in Europe and Australia.
TJX (NYSE:) estimated comp sales to rise between 1% to 2% and earnings per share between $0.63 and $0.65.
3. Home Depot Rolls out Q3 Report
component Home Depot (NYSE:) will report third-quarter earnings before the bell.
In the previous quarter, the home-improvement retailer cut its sales outlook blaming the impact of the ongoing rise in lumber prices and the U.S.-China trade war.
Against these headwinds, a more positive backdrop in the U.S. housing sector has buoyed construction activity, boosting sales of big-ticket items to builders and handymen.
Home Depot (NYSE:) is expected to of $2.52 a share on revenue of $27.5 billion. A year ago, it earned $2.51 a share on revenue of $26.3 billion.
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