Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
1. IBM Results, Guidance Beat Estimates
Tech may be helped tomorrow as Dow component IBM delivered a quarter that beat on the top and bottom lines and issued solid guidance.
The firm reported earnings per share of $4.87 on revenue of $21.76 billion Analysts polled by Investing.com expected EPS of $4.82 on revenue of $21.75 billion.
For the full year, IBM said is predicts earnings of $13.90 per share, ahead of forecasts.
Shares of IBM (NYSE:IBM) gained 7% in after-hours trading.
2. P&G, United Tech and Comcast to Report
Two more Dow components report ahead of trading tomorrow.
Consumer products giant Procter & Gamble (NYSE:PG) is forecast to report a profit of $1.21 per share in sales of about $17 billion.
As a defensive consumer staples stock, shares of P&G have bucked the trend and are up over the last 12 months, enjoying strong gains since its last earnings report in October, which showed solid organic sales growth.
United Technologies (NYSE:UTX) also reports results. On average, analysts expect that it earned $1.55 a share on revenue of nearly $17 billion.
And cable heavyweight Comcast (NASDAQ:CMCSA) is on the calendar as well.
Analysts forecast that Comcast had a profit of 65 cents per share in the latest quarter, with revenue of about $27.5 billion.
NBCUniversal, owned by Comcast, announced earlier this month that it will be launching a digital streaming service.
3. Oil Hit by Global Growth Worries
Along with stocks, oil prices were pressure by worries about global demand in case of slowing economic growth.
"Of course, looking at Chinese oil demand one would not see any real evidence of a slowdown," said Phil Flynn, analyst at The Price Futures Group brokerage in Chicago.
"OPEC, led by Saudi Arabia, has also vowed to do whatever it takes to support prices. Yet the question is can they do enough if the global economy slows more swiftly or gets hit with black swans or grey rhinos?”
Tomorrow there will be more numbers on the flip side of those concerns: U.S. supply.
The American Petroleum Institute will release its measure of weekly crude stockpiles. A drop of 560,000 barrels was reported last week.