Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
Snap’s earnings on tap
Snap Inc (NYSE:SNAP), parent company of snapchat, is slated to reveal third quarter earnings after U.S. close on Tuesday.
The earnings report is likely to be scrutinised for signs of improvement in both user growth and monetisation amid investor concerns that competition headwinds would continue to weigh on financial performance in the third quarter.
Following the second-quarter earnings call with investors earlier this year, Snap CEO Evan Spiegel said that Snap’s efforts to ramp up monetisation are “progressing nicely” but warned that the social media company is in the “very early stages” as it develops its self-serve and programmatic infrastructure.
Snap is expected to report a loss of ($0.31) per share.
U.S. crude oil stockpiles to show large decline?
Traders look ahead to a fresh batch of crude oil inventory data from the American Petroleum Institute due Tuesday.
The American Petroleum Institute reported crude oil stockpiles fell by about 5 million barrels for the week ended Oct. 29.
Crude oil futures have made a bold start to the week settling 3.1% higher at a more than two-year high of $57.35 barrel on Monday after Saudi Arabia Crown Prince Mohammed bin Salman, through an anti-corruption crackdown, made a series of moves to consolidate his power.
U.S. labor market data in focus
Following the somewhat downbeat nonfarm payrolls report on Friday, investors are expected to closely monitor a monthly report on job vacancies for an insight into the strength of the U.S. labor market.
The U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTs) report, is expected to show job openings in September improved to about 6.1m.
The dollar fell against its rivals on Monday after an uptick in demand for safe haven currencies such as the yen and Swiss franc weighed on sentiment.
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