Investing.com | Jan 29, 2020 19:21
Investing.com - Here are three things that could rock the market tomorrow.
1. Amazon (NASDAQ:AMZN) Keeps Earnings Assembly Line Rolling
As earnings season rolls on, another of the famed FAANG stocks reports numbers tomorrow.
Amazon.com (NASDAQ:AMZN) will issues earnings after the bell Thursday, reporting on its all-important holiday quarter with investors curious for more updates on how one-day shipping is shaking out.
On average, analysts expect that the retail giant will report a profit of $4.05 per share on sales of nearly $86 billion.
Earlier this week, Benchmark raised its target on Amazon to $2,300 from $2,100, while keepings its buy rating.
“We expect another record revenue holiday quarter, which could eclipse the high end of guidance thanks to share gains from the impressive, aggressive, one-day shipping rollout,” analyst Daniel Kurnos wrote, according to Barron’s.
The stock is up just a little more than 5% in the last three months, trailing the S&P.
Another blue-chip index member, Coca-Cola (NYSE:KO), reports ahead of trading, too.
Analysts are looking for earnings of 44 cents per share on revenue of nearly $8.9 billion.
2. First 4Q GDP Numbers Arrive
Just like there’s no let-up in earnings there’s no let-up on the economic front either on Thursday.
The market gets the first numbers of fourth-quarter gross domestic product (GDP) from the Commerce Department at 8:30 AM ET (13:30 GMT).
The advance measure of GDP is expected to come in at an annual rate of 2.1%, the same as the final measure of fourth-quarter economic growth, according to economists’ forecasts compiled by Investing.com.
At the same time there will be the weekly initial jobless claims numbers.
Claims for first-time unemployment benefits are forecast to have ticked up to 215,00 last week.
3. BoE up in the Air
The Fed decision today lived up to its billing as a foregone conclusion, with rates staying on hold and a very neutral statement.
The Bank of England looks to be the opposite tomorrow, with a lot of uncertainty about what the decision will be at 07:00 GMT.
Interest rates are expected to be kept at 0.75%, according to economist forecasts compiled by Investing.com.
But the derivatives markets are pricing in about a 50% chance of a cut to 0.5%, according to the FT.
If the BoE holds, it will leave the door open for further easing later in the year, Bank of America (NYSE:BAC) said today.
"Any relief rally in sterling will prove short-lived as we believe markets are likely to roll out their rate cut expectations into the coming months," BofA said.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.