Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
UK Marco Data on Tap
Fresh on heels of weaker than expected UK manufacturing data, investors brace for data expected to show a slight decrease in the construction activity in September.
The UK construction purchasing managers' index is expected to drop to 50.8 from the 51.1 a month ago.
The purchasing managers index (PMI) figures are given as a number between 0 and 100. Anything above 50 signals growth, while anything below indicates a contraction in activity. A reading of 50.8 would indicate that the sector is close to contracting.
The pound fell 0.88% to $1.3279 against the greenback on Monday.
Fed officials in the spotlight
Ahead of Janet Yellen’s remarks at the Community Banking in the 21st Century Conference on Wednesday, investors are expected to closely monitor comments from a handful of Fed officials.
Governor Jerome Powell, one of the candidates reported to be on the shortlist to potentially replace Janet Yellen, is slated to deliver a speech on regulatory reforms and Treasury markets.
Powell has previously reiterated that the Federal Reserve could afford to be a “little bit patient” on future rate hikes amid the slowdown inflation and a strong labor market.
The dollar made strong gains against its rivals on Tuesday, as better-than-expected data fuelled investor expectations for a solid quarter of economic growth.
Tesla to slump on US opening bell?
Shares of Tesla slumped in after-hours trading as investors mulled over third-quarter production figures for Tesla’s model 3 which fell short of expectations.
Tesla delivered 26,150 vehicles in the third quarter, up 4.5% from the same time last year. Investors expressed concern, however, as only 260 of the total 25,336 vehicles produced were Model 3.
That was well below Tesla CEO Elon Musk’s estimate in August, in which he outlined the company’s plan to produce 1,500 Model 3 cars in September and ramp up to 20,000 cars per month in December.
"Model 3 production was less than anticipated due to production bottlenecks," Tesla wrote in its investor letter.
Shares of Tesla Inc (NASDAQ:TSLA) fell 1.32% to $337.01 in after-hours trading.