Beige Book, Tesla, More Results: 3 Things to Watch

This post was originally published on this site  —  Will we hear the last of the stimulus debate soon? Here’s hoping.

Markets were higher with House Speaker Nancy Pelosi optimistic over getting a deal passed on stimulus, despite key differences, by Tuesday’s deadline. She suggested progress has been made with the White House,

Stocks tied to the economy like industrials, materials and financials traded higher.

Investors basically ignored the big giant breaking news story with the government filing an antitrust lawsuit against Google (NASDAQ:GOOGL) on allegations it had violated competition law to preserve its monopoly over internet searches and online advertising. It did nothing to dissuade investors. 

Here are three things that may move markets tomorrow:

 1. Fed Beige Book

So, how’s that economic recovery going? The Federal Reserve’s October Beige Book will give some clues on the rebound, or lack thereof. It will give a good snapshot from businesses and communities about how the resurgence of Covid is being felt across the country.

2. Tesla on deck to report earnings

Already up more than 410% this year, everybody’s favorite electric-vehicle maker is poised to post a profit when it reports after the close. Analysts are expecting Tesla Inc (NASDAQ:TSLA) to deliver adjusted earnings of 55 cents a share on revenue of $8.26 billion. The company earlier this month said it delivered about 140,00 vehicles in the third quarter, but didn’t say where it stood on its goal of getting to 500,000 for the year, so keep an eye out for any updated guidance.

3. Earnings by everyone else

Elon Musk not your type? There’s a slew of health care related stocks due with Abbott Laboratories (NYSE:ABT), Thermo Fisher Scientific (NYSE:TMO), Edwards Lifesciences (NYSE:EW) and Biogen (NASDAQ:BIIB) all expected to report. Other big names like Verizon Communications Inc (NYSE:VZ)., Las Vegas Sands (NYSE:LVS) Corp., CSX Corp (NASDAQ:CSX) are also on the docket. And if you’re hungry, Chipotle Mexican Grill Inc (NYSE:CMG).