What to Watch in the Day Ahead - Thursday, July 18
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Netflix is expected to report a rise in revenue in the second quarter, helped by its password-sharing crackdown and demand for its ad-supported version.
Federal Reserve Bank of Dallas President Lorie Logan is set to give opening remarks before the "Exploring Conventional Bank Funding Regimes in an Unconventional World" conference co-sponsored by the Federal Reserve Bank of Dallas and the Federal Reserve Bank of Atlanta. (1345 /1745) Federal Reserve Bank of San Francisco President Mary Daly is also set to participate in the event. (1805 /2205). Federal Reserve Board Governor Michelle Bowman is scheduled to speak on accountability and reform at the conference. (1945 /2345)
A report from the Labor Department is expected to show a rise in initial claims for state unemployment benefits to 230,000 for the week ended July 13 from 222,000 reported in the previous week. Continued jobless claims is likely to come in at 1.855 million for the week ended July 6, up from 1.852 million in the previous week.
Abbott Laboratories is set to report second-quarter results before the bell. Investors will look out for the company's quarterly performance in the medical devices segment, any changes to the 2024 outlook as well as rollout plans and growth expectations for its recently cleared glucose monitoring devices, Lingo and Libre Rio.
Domino's Pizza is expected to post a rise in second-quarter revenue, as more people cash in on the company's loyalty program. Investors will watch out for comments on consumer behavior and spending, particularly in the lower-income cohort.
KeyCorp is slated to report its second-quarter results. The regional bank's profit is expected to fall as the firm pays out more on costlier deposits.
M&T Bank's second-quarter profit is expected to fall, as costlier deposits erode the lender's interest income.
Uniform rental firm Cintas is expected to post a rise in fourth-quarter sales, helped by resilient demand for its high-priced uniforms. Investors will look out for comments on demand, impact of energy expenses, pricing actions and annual forecasts.
Intuitive Surgical is expected to report its second-quarter results. Investor focus will be on the demand for the company's surgical robots.
In Latin America, Argentina's economic activity likely decreased 2.4% in May from a year earlier, compared with a 1.7% annual drop reported in the previous month. Meanwhile, the country’s trade surplus in June is likely to come in at $1.6 billion, lower than $2.656 billion surplus in May.
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Reporting by Ananya Roy; Editing by Shailesh Kuber
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