Day Ahead: Top 3 Things to Watch for Jan. 10

This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXMPEB0S0O9_M.jpg
© Reuters. © Reuters.

Investing.com – Here are three things that could rock markets tomorrow.

1. Jobs, Jobs, Jobs

The latest employment report will be the headline event before trading begins tomorrow.

With a phase one trade-deal signing between the U.S. and China looking priced in for stocks and Middle East tensions more in the rearview mirror (although that could change at any time) investors seem to be going back to fundamentals.

Economic data this week has been encouraging as the major indexes .

The Labor Department will issue its December jobs report at 8:30 AM ET (13:30 GMT).

are expected to have risen by 164,000, according to economists’ forecasts compiled by Investing.com.

The is seen remaining at 3.5%, while , an indicator of wage inflation, are forecast to have risen 0.3% for the month.

2. Oil Rig Count on Tap

Oil trading has also been taking its cue from fundamentals after the U.S. and Iran looked to cool tensions rather than escalate.

The staggering large inventory build in crude, gasoline and distillate stockpiles the EIA reported this week weighed on a market that was already reversing course on geopolitics.

Tomorrow there will be a look at what oil companies are planning amid high production and a build-up in inventories.

Baker Hughes releases its at 1 PM ET (18:00 GMT).

The rig count came in at 670 last week and the trend has been down for the past year.

3. Wholesale Inventories Arrive

Also arriving tomorrow are the latest numbers on wholesale inventories.

The Commerce Department will report on the change in value of inventory held by wholesalers for November at 10 AM ET (15:00 GMT).

On average, economists expect that were flat for the month, versus an earlier measure of a rise of 0.1%, according to forecasts compiled by Investing.com.

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.

Add Comment