By Liz Moyer
Investing.com -- Stocks accelerated their losses at the end of trading but are still up for the month of January after an early rally that has tech stocks outperforming.
Whether investors can keep the momentum going is up for debate. Wednesday's 600-point drop in the Dow came after data that showed the economy cooling. Investors have pushed stocks higher recently on the hope that the Federal Reserve won't have to be as aggressive with interest rates as it was last year.
The Fed's beige book published today says there is little expectation of economic growth in the coming months, though prices are expected to moderate further.
Analysts are expecting the Fed to raise interest rates another quarter of a percentage point in February, but that would be a smaller increment than its previous rate decisions.
Investors will be listening closely to what Fed officials say in the coming days about the direction of the economy leading into the start of the Fed meeting at the end of this month.
Here are three things that could affect markets tomorrow:
1. Procter & Gamble
Consumer product giant Procter & Gamble Company (NYSE:PG) is seen reporting earnings per share of $1.58 on revenue of $20.67 billion, and investors will be listening to what it says about pricing power and consumer demand.
2. Netflix earnings
Streaming giant Netflix Inc (NASDAQ:NFLX) is expected to report earnings of 59 cents on revenue of $7.84B, but analysts will want to hear about its subscription adds and its newest experiment with ad-supported streaming.
3. Jobless claims
The latest reading on jobless claims for the prior week is due out at 8:30 ET (13:30 GMT). Analysts expect 214,000 initial claims, up slightly from the 205,000 the previous week.