Here’s a preview of the top 3 things that could rock markets Friday.
Draghi and Yellen set to light up Jackson Hole
Traders have been waiting the entire week for the central banking symposium at Jackson Hole where both European Central Bank president Mario Draghi and Federal Reserve chair Janet Yellen are scheduled to speak on monetary policy.
Analysts, however, have been quick to downplay the possibility that the pair of central bankers will offer detailed insights into future monetary policy action.
“The [Jackson Hole] conference has in recent years been a venue for big news in monetary policy but this time around it is likely to be undramatic,” said Seth Carpenter, economist at UBS.
The dollar was roughly unchanged against its major rivals on Thursday.
Baker Hughes rig count
The weekly instalment of drilling activity from Baker Hughes (NYSE:BHGE) on Friday will provide investors with fresh insight into U.S. oil production and demand, after the number of active drilling rigs has slowed in recent weeks.
The weekly rig count is an important barometer for the drilling industry and serves as a proxy for oil production and oil services demand.
At Thursday’s settlement price, crude futures remained on track to post their fourth-straight weekly loss amid fears that Hurricane Harvey could disrupt refinery activity, causing crude stockpiles to swell.
Twitter to slump on market open?
Shares of Twitter, Inc. (NYSE:TWTR) sank more than 1% in after hours on Thursday, following a downgrade from investment bank Jefferies on the back of concerns over a drop in monetization.
"TWTR's global platform has broad user engagement, but monetization is slipping," Brent Thill and a team of equity analysts said in a note. "In social we see a clear winner in FB." Brent Thill and a team of equity analysts said in a note.
During its most recent quarterly report, Twitter reported monthly active user growth of 328 million, roughly unchanged from previous quarter.