© Reuters. What to watch out for in tomorrow's session© Reuters. What to watch out for in tomorrow’s session

Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow

1. Jobless Claims, Bloomberg Consumer Confidence Data on Tap

As investor appetite in risk sentiment remained well supported, further evidence the U.S. economy is on solid footing could strengthen the risk-on rally.

The Labor Department releases its weekly count of the due 08:30 am ET for the week ended May June 1, expected to show jobless claims rose to 223,000 from 221,000 the prior week.

The Bloomberg Consumer Confidence Index due 9:45AM ET – which measures views on the condition of the U.S. economy, personal finances and the buying climate – will also be closely monitored.

The reports came ahead of a surge in the to nearly 3% as Treasury prices – which trade inversely to yields – followed European government bonds lower after the European Central Bank’s top economist said the central bank would consider scaling back bond purchases.

Market participants are likely monitor whether the 10-year treasury yield can add to its gains and move above the 3% mark.

The retreated Wednesday following a sharp rise in .

2. Natural Gas Inventories, Crude Oil Slump Eyed

rose on Wednesday a day ahead of data expected to show an increase in natural gas storage.

The Energy Information Agency’s report is expected show gas storage rose by 90 billion cubic feet last week.

Crude oil prices will likely remain in focus as they remained on track to post a third straight week of losses amid a 1.2% fall Wednesday after U.S. government data showed

That was in contrast to the weekly industry report from the American Petroleum Institute on Tuesday showing a draw in crude supplies.

settled 1.21% lower at $64.73 a barrel.

3. Tesla Rally in Focus

Shares of Tesla rallied nearly 10% Wednesday after CEO Elon Musk said it is “quite likely” Tesla will hit its Model 3 production targets.

During the annual shareholder meeting on Tuesday, Musk said it is “quite likely” Tesla will hit a weekly Model 3 production rate of 5,000 cars by the end of June.

Model 3 production bottlenecks have longed weighed down shares of Tesla but Musk’s comments appeared to renew investor optimism the company was beginning to alleviate its production headwinds.

Musk also said that he expects Tesla to generate positive net income and cash flow in the third and fourth quarter of the year, easing concerns about the company’s cash position.

Shares of Tesla Inc (NASDAQ:) closed 9.47% higher at $319.50.

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