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Day Ahead: Top 3 Things to Watch

Stock MarketsApr 22, 2019 04:23PM ET
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© Reuters. - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. Here Comes the Earnings Deluge

Investors must brace for the earnings avalanche coming tomorrow.

Twitter (NYSE:TWTR) reports ahead of the bell, with analysts predicting a profit of 15 cents per share on revenue of about $774 million, according to forecasts compiled by

But engagement metrics might have more of an impact on the stock. The company is no longer reporting monthly active users (MAUs) and will report daily active users (DAUs) instead. The company feels this metric is a better measure of its user base.

Twitter said in February it had 126 million daily active users.

Consumer goods powerhouse Procter & Gamble (NYSE:PG) is also on the calendar. Analysts predict a fiscal third-quarter profit of $1.03 per share, with sales of about $16.4 billion.

For fiscal 2019, P&G guided earnings per share growth of 3% to 8%, with total sales growth in the range of down 1% to up 1%.

Coca-Cola (NYSE:KO) also weighs in, with the consensus estimate for earnings of 46 cents a share and sales of about $7.9 billion.

Shares are about flat year to date.

Verizon (NYSE:VZ), United Technologies (NYSE:UTX), Lockheed Martin (NYSE:LMT) and Texas Instruments (NASDAQ:TXN) will also report results.

2. New Home Sales Seen Falling

Following a worse-than-expected drop in existing home sales reported today, the Commerce Department will report on March new home sales at 10:00 AM ET (14:00 GMT).

Sales of new homes are expected to have dropped 3% last month to an annual rate of 647,000.

At 9 AM ET, the government will report its house price index for February, with economists predicting a month-on-month rise of 0.6%, the same as the month before.

And at 9:45 AM ET, Markit will issue its measure of services activity for April.

Economists, on average, expect that the services purchasing manager’s index edged up to 56.

3. Can U.S. Crude Make up Iran Shortfalls?

Oil prices jumped sharply today in response to President Donald Trump’s decision not to renew sanctions waivers for importing crude from Iran.

Traders will be looking tomorrow from any hints from OPEC about whether it will pump more to make up some of the supply shortfall.

They will also get a glimpse of how much the U.S. can add to the mix when the American Petroleum Institute releases its snapshot of oil inventories.

The API estimated inventories fell by 3 million barrels last week, following three-straight weeks of builds. The Energy Information Administration reported an official drop of about 1.4 million barrels last week.

Day Ahead: Top 3 Things to Watch

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