Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
Euro macro data under the microscope
EUR/USD will be focus on Wednesday, as investors look ahead to release of a pair of economic reports expected to provide insight into the state of the Eurozone economy.
Economists forecast Eurozone manufacturing and services activity remained steady August amid concerns that the sharp rise in the euro has stifled export growth.
The ECB’s July policy meeting minutes revealed officials warned that the recent surge in the euro could hamper the central bank’s efforts to get inflation closer to its target of below, but close to, 2%.
Salesforce to ‘force’ a reversal on market open?
Salesforce.com Inc (NYSE:CRM) released its second-quarter results on Tuesday after markets closed, beating expectations on both the top and bottom line.
Shares of Salesforce, however, slumped nearly 3% in the immediate aftermath of the earnings release.
Second quarter EPS came in at $0.33 and revenue was $2.56 billion. The EPS result was $0.01 above expectations and revenue beat by $50 million.
The company raised its forecast for the full year, adding a penny to its profit projection to make it $1.29 to $1.31 a share and $100 million to its revenue guidance, which is now $10.35 billion to $10.4 billion.
US oil crude stockpiles to show eighth-straight weekly decline?
A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles fell for an eighth-straight week.
Analysts forecast crude inventories fell by about 3.5m barrels in the week ended Aug 18.
Crude futures have made a volatile start to the week, falling more than 2% on Monday, as concerns over Opec’s waning compliance with the deal to curb output remained, after an Opec meeting on Monday failed to yield any measures restore the group’s compliance rate.
Crude oil settled 37 cents higher at $47.64 on Tuesday.