Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. Layoffs, Jobless Claims Data on Tap
Following today’s better-than-expected payroll numbers from ADP, the market moves on to the second round of employment data before the final official September jobs report.
At 7:30 AM ET (11:30 GMT), employment services firm Challenger release its figures on September jobs cuts. Layoffs came in at 38,500 in August.
Initial jobless claims arrive, as always, at 8:30 AM ET.
On average, economists expect that weekly claims for first-time unemployment benefits edged down to 211,000 from the week before.
2. More Fodder for Fed Heads
Fed speak continues as Federal Reserve Vice Chairman Randal Quarles will be heading to Capitol Hill.
Quarles will speak at the Senate Banking Committee on "Implementation of the Economic Growth Regulatory Relief and Consumer Protection Act."
He’ll start speaking around 9:15 AM ET.
With yields bouncing higher today, the chance of a Fed rate hike in December rose close to 80%, according to Investing.com’s Fed Rate Monitor Tool.
There will also be factory orders numbers for August coming at 10:00 AM ET. Economists are predicting a rise of 2.1%, compared with a drop in July.
3. Does Constellation Brands Have More Cannabis News?
Analysts are forecasting a profit of $2.61 per share on sales of about $2.25 billion. But beyond the numbers, investors will be looking to see if there are any more details about its investment in the cannabis sector.
The beverage company sparked the huge rally in cannabis stocks when it announced a further investment in Canopy Growth (NYSE:CGC) and more details of plans could spur more speculation of deals in the sector.
On average, analysts predict the company will earn $2.36 per share on sales of about $44 billion.
While slow and steady growth has been the name of the game for the stock, any signs of when it could issue another special dividend would be welcome news to investors.
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