Top 3 Things to Watch Feb. 4 By Investing.com No ratings yet.

© Reuters.

By Kim Khan

Investing.com – Here are three things that cold rock markets tomorrow.

1. Disney Reports; Market Anxious for China Update

component Walt Disney (NYSE:) will report earnings after the bell tomorrow.

The company is expected to report a of $1.46 per share on revenue of about $20.8 billion, according to forecasts compiled by Investing.com.

All things being equal, investors woul probably be most interested in more updates and numbers from the Disney+ streaming service as it takes on Netflix (NASDAQ:), Apple (NASDAQ:) and others in the hot space.

But what the company has to say about any impact it’s seeing and expects from the coronavirus could take the spotlight.

Disney temporarily shut down its amusement parks in China – Shanghai Disneyland and Disneytown — to limit the spread of the disease.

Last week, Needham lowered its quarterly estimates for the company, citing lower political advertising demand at broadcasting and lower box office (offset by lower marketing spending).

Before the bell, ConocoPhillips (NYSE:) will issue its numbers.

Analysts are looking for of 80 cents per share and revenue of about $8.2 billion.

Energy shares were hammered last week on earnings, particularly ExxonMobil (NYSE:), and the landscape is looking grim at the moment, with oil prices pressured by worries of Chinese demand slumping on the virus impact.

2. Factory Orders, API Inventories on Tap

The economic calendar is fairly light tomorrow.

At 10:00 AM ET (15:00 GMT), the Commerce Department will release the latest figures on factory orders.

December are expected to have risen 1.2%, reversing the drop of 0.7% in November.

For energy traders, the American Petroleum Institute will issue its measure of weekly U.S. .

The API snapshot serves as a guide for the official figures out Wednesday, but the two sets of numbers often diverge.

Last week API reported a drawdown of about 4.3 million barrels in crude stockpiles.

Oil entered a bear market today, down 20% from recent highs, and and fell below important technical levels.

3. First Voting Round for Democrats

Investors will also have politics to contend with tomorrow, with the results of the Iowa Caucuses come out tonight, the first hurdle for Democratic presidential nominee hopefuls.

If candidates like Sen. Elizabeth Warren or Sen. Bernie Sanders do well, that could weigh on equities. Both have platforms that Wall Street sees as unfriendly, to say the least.

The caucus voting in Iowa starts at 7:00 PM ET (00:00 GMT).

Late Tuesday night, President Donald Trump will give his State of the Union speech at 9:00 PM ET.

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