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Day Ahead: Top 3 Things to Watch for Jan. 15

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

1. More Bank Earnings Coming Up

Financial earnings keep on coming tomorrow after mixed results today saw JPMorgan Chase (NYSE:JPM) climb on solid results, but Wells Fargo (NYSE:WFC) struggle.

Goldman Sachs (NYSE:GS) was among the Dow leaders today and will weigh in with quarterly numbers ahead of trading.

Analysts expect that Goldman earned $5.56 per share, according to forecasts compiled by Investing.com. Revenue is seen coming in at $8.53 billion.

Bank of America (NYSE:BAC) is also on the docket, with analysts predicting a profit of 69 cents per share, with revenue of $22.22 billion.

Asset manager BlackRock (NYSE:BLK) will report quarterly numbers as well. The consensus calls for earnings of $7.62 a share, with revenue of $3.83 billion.

Insurance company UnitedHealth Group (NYSE:UNH) is on the earnings calendar as well.

Analysts are looking for a quarterly profit of $3.77 per share. Revenue is predicted to come in at $60.93 billion.

2. Beige Book, Wholesale Inflation Data Arrive

The Federal Reserve will issue its Beige Book of economic activity tomorrow, with the market looking very satisfied with conditions at the moment and expecting the Fed to keep rates at current levels.

The Beige Book comes out at 2 PM ET (19:00 GMT).

Kansas City Fed President Esther George said today keeping rates on hold is appropriate “as we assess the economy's response to last year's rate cuts and monitor incoming data.”

The consumer price index out today showed little retail inflation pressure and investors will see if there are any red flags on the wholesale side tomorrow.

The Labor Department issues the December producer price index (PPI) tomorrow at 8:30 AM ET.

Economists expect that the PPI rose 0.2% last month, while the core PPI, which excludes volatile food and energy prices, is expected to have risen 0.2% as well, according to forecasts compiled by Investing.com.

At 9:45 AM ET, the New York Fed issues its measure of manufacturing activity in the area.

The January Empire State Manufacturing Index is seen ticking up to 3.55.

3. Oil Inventories Seen Dropping

As the energy markets get more comfortable with the situation in the Middle East, supply numbers are taking the spotlight again.

After the bell today the American Petroleum Institute reported that U.S. oil stockpiles rose by 1.1 million barrels last week.

The API numbers often serve as a guide for what the government numbers will be Wednesday.

The Energy Information Administration will report its inventory numbers at 10:30 AM ET (15:30 GMT).

Analysts are predicting a decline in oil inventories of 474,000 barrels, according to forecasts compiled by Investing.com.

Gasoline inventories are seen rising by about 3.4 million barrels, with distillate stockpiles forecast to post a build of about 1.2 million barrels.

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