Investing.com — Markets turned south after President Donald Trump rejected U.S. House Speaker Nancy Pelosi’s $2.4 trillion stimulus proposal, instructing his representatives to halt talks until after the election.
Trump accused Pelosi of “not negotiating in good faith” and said her stimulus proposal was “in no way related to Covid-19.”
Cruise lines managed to hold onto the green, up after Royal Caribbean (NYSE:RCL) said it will test passengers and crew, and Carnival (NYSE:CUK) Corp. said companies are collaborating with the White House and CDC.
Boeing (NYSE:BA) dropped after cutting its rolling 20-year forecast for aircraft demand, and airlines didn’t fare much better.
Here are three things that may move markets tomorrow:
1. Let’s agree to disagree
Sen. Kamala Harris and Vice President Mike Pence pick up where Donald Trump and Joe Biden left off when they meet to debate tomorrow night. The presidential face-off wasn’t pretty, with insults thrown around and the men talking over each other. Here’s hoping Harris and Pence show a tad more decorum and respect.
This is expected to be the only debate between Harris and Pence.
2. The Fed
After Federal Reserve Chairman Jay Powell’s remarks about stimulus and comments from a trio of Fed presidents on Tuesday, even more central bankers are on tap for Wednesday. Fed Presidents Raphael Bostic, Neel Kashkari and Eric Rosengren will speak on “Racism and the Economy.” Elsewhere, John Williams (NYSE:WMB) will talk about inflation targeting and Charles Evans will discuss the outlook for the U.S. economy.
Also to keep in mind: FOMC minutes will also be published at 2:00 PM ET (1400 GMT).
3. Storm season threatens oil
Oil companies are already starting to evacuate workers from their Gulf of Mexico platforms as Hurricane Delta churns toward the Yucatan Peninsula. The storm strengthened to a Category 4 and is expected to move through the Gulf before hitting Louisiana. Expect data on the impact to production from the storm to come at some point Wednesday.