Breaking News
Close
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Day Ahead: Top 3 Things to Watch for Feb. 7

Stock Markets Feb 07, 2020 07:49
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com - Here are three things that could rock the markets tomorrow.

1. Payrolls Seen Rising 160K, but Watch Annual Revisions

The market will move past the earnings numbers tomorrow and concentrate on the payroll numbers as the latest government employment report arrives.

The Labor Department will report on the January jobs situation at 8:30 AM ET (13:30 GMT).

Nonfarm payrolls for the month are expected to have risen by 160,000, compared with a rise of 145,000 in December, according to economists’ forecasts compiled by Investing.com.

The jobless rate is seen remaining at 3.5%.

Average hourly earnings, a measure of wage inflation, are forecast to have risen 0.3% for January, up 3% year on year.

Health care, leisure and hospitality are expected to drive the month’s payroll gains, according to Diane Swonk, chief economist at Grant Thornton.

But the “big news will come in revisions affecting April 2018 to March 2019, from which we could see about 500,000 jobs disappear, along with other revisions through 2019,” Swonk said in a note this week. “Many of the losses appear to have fallen during the latter part of 2018 and the early part of 2019 but revisions are expected to suppress the annual totals for both 2018 and 2019.”

2. Canada Goose Earnings Fly Into View

Winter clothing company Canada Goose (NYSE:GOOS) will release earnings before the bell tomorrow and should get some interest given the uncertainty around the stock.

The company is expected to report a profit of 81 cents per share on sales of about $340 million, according to analysts’ forecasts compiled by Investing.com.

The stock was under pressure given questions about impact on its Asia business due to the coronavirus and protests in Hong Kong.

But it’s been volatile enough to see a sharp jump when the company named Kate Upton a “Goose Person.”

Sports fans will be keeping an eye on Madison Square (NYSE:SQ) Garden (NYSE:MSG) earnings with the New York Knicks still in disarray.

As the basketball team searches for a new president, owner James Dolan felt the need to issues a statement today saying he was not selling the team.

3. Pot Stocks Take a Hit Again

Cannabis stocks could be under pressure again tomorrow after another shakeup at the top for public company.

Shares of Aurora Cannabis (NYSE:ACB) plunged 13% in after-hours trading after it announced CEO Terry Booth will be stepping down and it would be cutting 500 jobs.

The company also warned on second-quarter revenue.

It expects to report between $50 million and $54 million in net revenue for the three-month period, the company said Thursday. That's well below the $61 million analysts polled by Investing.com were expecting.

Day Ahead: Top 3 Things to Watch for Feb. 7
 

Related Articles

Abrdn Shares Rise After Share Buyback Program Announced
Abrdn Shares Rise After Share Buyback Program Announced By Investing.com - Jul 06, 2022

By Scott Kanowsky  Investing.com -- London-listed shares in Abrdn PLC (LON:ABDN) jumped by more than 7% on Wednesday after the U.K. asset manager unveiled a new £300 million share...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Our Apps
DOWNLOAD APPApp store
Investing.com
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
or
Sign up with Email