What to Watch in the Day Ahead - Thursday, May 16
Corrects paragraph 3 in May 16 edition to say "overall housing starts”, not "single-family housing starts"
Walmartis expected to post a rise in first-quarter sales and raise its outlook for the year, as the retail bellwether benefits from demand for its low-priced groceries, higher discounts, and some pull forward of tax refunds in March. Investors are looking for updates on its acquisition of smart-TV maker Vizio, which received calls from FTC for more information, and the operating income growth it sees from Walmart and Sam's Club membership and advertising.
Federal Reserve Bank of Richmond President Thomas Barkinis expected to be interviewed live on CNBC. (1000/1400) Cleveland Fed’s President Loretta Mesteris scheduled to speak on the economic outlook at the Wayne Economic Development Council Briefings for Business (B4B) event. (1200 /1600) Additionally, Atlanta Fed President Raphael Bosticwill likely speak on the economic outlook in a moderated conversation hosted by the Jacksonville Business Journal. (1550 /1950) Meanwhile, Philadelphia Fed President Patrick Harkeris likely to speak on "The Economic Impact of Higher Education and Healthcare Institutions” and is due to participate in a conversation at hybrid 2024 Anchor Economy Conference. (1030/1430) Separately, Federal Reserve Board Vice Chair for Supervision Michael Barris likely to testify at U.S. Senate Banking, Housing, and Urban Affairs Committee hearing on oversight of financial regulators. (1000/1400)
Investors eyed slowing consumer price inflation in April with relief, underpinning expectations for Federal Reserve interest rate cuts this year. Next on the U.S. economic front, the Commerce Department's Census Bureau is scheduled to report that overall housing startslikely rose to 1.420 million in April from 1.321 million in March. Building permitsare expected to rise by 1.485 million units in April after adding 1.467 million units in the month before. Meanwhile, the Labor Department is likely to publish initial claims for state unemployment benefits, which are projected to fall 11,000 to a seasonally adjusted 220,000 for the week ended May 11. The number of people receiving benefits after an initial week of aidis expected to reach 1.785 million for the week ended May 4. A separate report from the Labor Department is expected to show import priceslikely rose 0.3% in April, while export pricesare forecast to gain 0.4% for the month. Additionally, the Philadelphia Fed's business indexlikely slipped to a reading of 8 in May from 15.5 in April. Furthermore, the Federal Reserve is set to release industrial productiondata, which is expected at 0.1% in April.
Semiconductor equipment supplier Applied Materialsis expected to report a decline in its second-quarter revenue, likely to be hit by weak demand due to U.S. export restrictions on the shipments of advanced chips and chipmaking equipment to China. Investors will be looking for commentary on the company's China shipments.
Deereis expected to post a slump in second-quarter revenue as demand for its tractors and combines take a hit from a softening agriculture sector, with farmers pulling back on spending due to lower crop prices and farm incomes. Investors will be watching for the company's forecast, its comments on dealer inventories, production and margins.
Revenue and profit growth at search engine giant Baiduis expected to be flat compared to last year, as a weak Chinese economy weighs on ad spending. Investors will closely watch updates on its AI chat tool Ernie Bot, including its sales.
JD.comis expected to release first-quarter results at a time when Chinese consumers remain cautious in the face of broader economic uncertainties. The Chinese e-commerce giant is expected to post a rise in first-quarter revenue boosted by steady demand thanks to hefty discounts.
Video game publisher Take-Two Interactiveis expected to report a fall in fourth-quarter revenue, hit by weak demand for its popular titles like "Grand Theft Auto" and "NBA 2k" as consumers cut back on spending amid a challenged economic outlook.
Under Armour is expected to post a drop in fourth-quarter revenue as weak consumer demand impacts sales in the apparel maker’s wholesale channel. Investors will watch out for comments on the benefits of the company’s ongoing cost reduction measures and strategies for discounts for the year.
Canada Gooseis expected to report a rise in fourth-quarter revenue, helped by a rebound in sales in China, even as the luxury parka maker sees weak demand in the U.S. Investors will eye comments on consumer sentiment in China and North America, margin recovery, and the forecast it provides for the next fiscal year.
Canada's Pembina Pipelineis scheduled to hold an investor day. Energy industry participants are waiting for news of a final investment decision on the Cedar LNG project, which Pembina has said it will make by June.
On the Latin Americanfront, inflationin Brazil, as measured by the IGP-10 price index, is expected to show a rise of 0.95% in May, after falling 0.33% in April.
Compiled by Anjana Jayakrishnan Nair in Bengaluru; Editing by Ravi Prakash Kumar
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
