By Christiana Sciaudone
Investing.com -- It was a red day on Wall Street.
Markets sold off today as investors shed tech stocks like there's no tomorrow. Instead, they found shelter in defensive sectors like financials, materials and energy, which rose slightly.
Janet Yellen also pitched in, saying rates may have to rise to keep the economy from overheating, something that the Federal Reserve has repeatedly said won't happen in the near term.
Big earnings await us, with Lyft (NASDAQ:LYFT), Uber (NYSE:UBER) and GM publishing results today and tomorrow.
The ADP (NASDAQ:ADP) jobs report on Wednesday is expected to show a strengthening job market.
Here are three things that could affect markets tomorrow:
1. All hail Wednesday
If you like ride-hailing companies, today's your day. Keep an eye on Lyft shares to see how they react to results that hit after the bell on Tuesday. Then it's Uber's turn post-market. Both are expected to lose money, but it's the rebound in rides and forecasts that should be watched closely.
2. Generally speaking
Sticking with cars, General Motors (NYSE:GM) is also reporting on Wednesday. Much of the attention will be on the chip shortages that are crippling production plans and how they'll weigh on future results. Ford Motor Company (NYSE:F) last week cut its full-year forecast because of its production woes.
3. ADP jobs
On the eco front, the ADP jobs report for April will give us a preview of Friday's non-farm payrolls numbers. As vaccinations increase and infections drop, consensus is calling for a jump to 873,000 from March's 517,000.