Breaking News

Day Ahead: Top 3 Things to Watch

Stock MarketsJun 25, 2019 05:20PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. – The good news for the market tomorrow is that it’s free of Federal Reserve speakers, who proved to be a bummer for stocks today.

After two disappointing economic indicators today in new home sales and consumer confidence, tomorrow brings the latest durable goods figures.

And investors should keep an eye out not just for the earnings number from KB Home, but for the commentary. There should be a glimpse of whether the current low rates are starting to bring in more home buyers. That’s not showing up in the government housing data just yet.

Here are three things that could rock markets tomorrow.

1. Durable Goods on Tap

Durable goods orders will be the focus for the market before the bell. The Commerce Department will report May orders for goods lasting three years or more at 8:30 AM ET (14:30 GMT).

Durable goods orders are expected to come in flat after following a 2.1% decline in April, according to economists’ forecasts compiled by Core durable goods orders, which exclude autos, are predicted to have increased by 0.1%.

2. Crude Inventories on Tap

The Energy Information Administration (EIA) petroleum report is due Wednesday, with many expecting another draw in crude stockpiles.

Ahead of the EIA report, the American Petroleum Institute released data that, while not perfectly correlated with the EIA's report, often serves as an early indication of weekly petroleum levels and showed crude stockpiles fell by 7.54 million barrels last week. The EIA is expected to report a draw in crude stockpiles of 2.54 million barrels for the week ended June 14.

Crude oil futures climbed 0.1% to settle at $57.83 a barrel today.

3. KB Home and General Mills Earnings on Deck

General Mills (NYSE:GIS) will report earnings before the U.S. markets open on Wednesday, with analysts keen to see whether the company has managed to keep costs in check and margins intact. During the previous quarter, the company delivered an earnings beat, as efforts to keep down costs, mainly from packaging, shipment, and raw materials, supported the bottom line.

General Mills is expected to report earnings of $0.77 share on revenues to $4.24 billion.

KB Home (NYSE:KBH) is also set to report second-quarter results tomorrow after the market closes. Guidance will be closely watched following a rebound in U.S. housing activity on the back of falling mortgage rates. Industry leader Lennar (NYSE:LEN), however, fell 6.1% on Tuesday after offering weak guidance, and the Commerce Department reported a surprising sales drop in new home sales for May.

KB Home is expected to report earnings of $0.39 a share on revenue of $943 million.

Day Ahead: Top 3 Things to Watch

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email