Yahoo Finance Day Ahead: 3 Things to Watch for September 18
By Christiana Sciaudone
Investing.com -- Markets dropped Thursday, with economic data disappointing investors and tech stocks lagging.
Weaker-than-expected labor and housing markets raised concerns that the pace of the recovery could be on the wane, with initial jobless claims at 860,000 for the week ended Sept. 12, missing economists' forecast for a reading of 850,000.
The Commerce Department reported an unexpected 76,000 decline in housing starts as activity was hurt by Hurricane Laura and Tropical Storm Marco.
Wednesday's huge IPO, Snowflake Inc (NYSE:SNOW), flaked out, down 11%. Financials also had a down day with interest rates near zero for the foreseeable future.
Here are three things that may move markets tomorrow:
1. Economic data, including consumer sentiment and data on oil production
At 10:00 AM ET (1400 GMT) the University of Michigan Consumer Sentiment data will be released. The outlook is for a reading of 75, up from 74.1 the prior month. A higher-than-expected reading should be taken as positive for the dollar, while a lower-than-expected reading should be taken as negative.
Later, at 1:00 PM ET (1700 GMT), comes the Baker Hughes’ weekly rig count data, which many view as a leading indicator of oil demand.
2. Market mayhem
Quarterly futures and options on indexes and stocks expire on Friday, which could make for a busy day as volatility tends to follow. Get a good night's sleep.
3. Inside Mosaic
Executives from the Mosaic Company (NYSE:MOS) will host a virtual analyst presentation to discuss its strategy, business unit performance and outlook through 2023. The first installment will be held at 9:00 AM ET (1300 GMT).
Shares are up 168% since March, and the stock has six buy ratings, five holds and no sells.
Related Articles
Federal Reserve prepares second stress test for large U.S. banks
Canada launches emissions reduction fund from Volkswagen fine
Judge temporarily blocks U.S. Postal Service changes, citing mail slowdown
