imageStock Markets9 hours ago (Sep 23, 2019 05:01PM ET)

(C) Reuters. – Here are three things that could rock the markets tomorrow.

1. Consumer Confidence Seen Dipping

The economic calendar is fairly light tomorrow, but there will be a report on the U.S. consumer.

The Conference Board will issue its measure of consumer confidence for September at 10:00 AM ET (14:00 GMT).

The index is expected to tick down to 134.1 from 135.1 in August, according to economists’ forecasts compiled by

In Europe, given today’s weak German economic numbers, investors will be closely watching the Ifo September business climate index, which comes out at 4:00 AM ET (08:00 GMT).

The index is seen edging up to 94.5 from 94.3 the month before.

2. Nike (NYSE:NKE) Holding Strong in Face of Tariffs?

Nike (NYSE:NKE) reports earnings after the bell tomorrow and, apart from the numbers, investors will be looking again for any more insight about how trade battles are affecting the company.

On average, analysts are looking for Nike (NYSE:NKE) to post a profit of 70 cents per share, according to forecasts compiled by Sales are seen coming in at about $10.4 billion.

Last month, Guggenheim put Nike (NYSE:NKE) on its Best Ideas List, nothing that despite a high multiple, the company has strong recent result, an innovative pipeline and one of the best names to mitigate tariff risk. The stock is up nearly 3.8% this month and 18.3% on the year.

Before the bell there will be results from the auto and auto parts sector, with AutoZone (NYSE:AZO) and CarMax (NYSE:KMX) reporting.

3. API on Tap

The oil market will be watching for any progress between the U.S. and Iran at the UN General Assembly tomorrow.

But there will also be some number on which to focus.

The American Petroleum Institute will issue its measure of weekly U.S. oil inventories at 4:30 PM ET (20:30 GMT).

Last week the API data showed a rise in stockpiles of 592,000.

Day Ahead: Top 3 Things to Watch

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