By Dhirendra Tripathi
Investing.com -- U.S. stocks edged slighting higher in late afternoon trading as investors prepared for news from the Federal Reserve later this week.
New data showed U.S. manufacturing activity slowed in October amid supply chain disruptions. All the major indexes rose to new peaks earlier in the session, and the Dow Jones Industrial Average rose past 36,000 points.
The Institute for Supply Management (ISM) said its index of national factory activity slipped to a reading of 60.8 last month, as a measure of new orders dropped to a 16-month low and factories continued to experience delays with deliveries of raw materials, Reuters reported.
The Federal Reserve kicks off its policy meeting on Tuesday and is expected to say Wednesday that it would begin to buy fewer bonds each month amid rising pressure on interest rates.
Tesla Inc (NASDAQ:TSLA) rose 1.2% to a record high after it notched a $1 trillion market capitalization last week. Harley-Davidson Inc (NYSE:HOG)jumped 7.9% after the European Union removed retaliatory tariffs on U.S. products.
Here are three things that could affect markets tomorrow:
1. Pfizer earnings
Pfizer Inc (NYSE:PFE)’s third-quarter profit per share is expected to come in at $1.08 and revenue at $22.56 billion, according to analysts tracked by Investing.com.
2. T-Mobile earnings
T-Mobile US Inc (NASDAQ:TMUS)’s revenue in the third quarter is seen at $20.2 billion and profit per share at 48 cents.
3. ConocoPhillips earnings
ConocoPhillips (NYSE:COP)’ third-quarter profit per share is likely to be $1.51 with revenue expected to be $10.71 billion.
--Reuters contributed to this report