What to Watch in the Day Ahead - Thursday, June 27
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On the U.S. economic calendar, the Commerce Department's Bureau of Economic Analysis is expected to report in its final estimate that the gross domestic product likely grew at 1.3% annualized rate in the first quarter, similar to the previous estimate. Meanwhile, the Labor Department is expected to release the weekly jobless claims numbers. Initial jobless claims for state unemployment benefits likely fell by 2,000 to 236,000 for the week ended June 22. Continued jobless claims likely dropped to 1.824 million for the week ended June 15 from 1.828 million in the previous period. Separately, the Commerce Department is likely to report the orders for durable goods fell 0.1% in May, after a 0.6% increase in April.
Nike is expected to post a marginal rise in fourth-quarter revenue, as the company scales back on franchises and struggles with weak direct-to-consumer sales.
Walgreens Boots Alliance is set to report its third-quarter results before markets open. Investors are expected to look for changes to the company's full-year forecast and management commentary around its healthcare services unit.
Rivian Automotive is set to hold its Investor Day, where investors want to see how the company has progressed towards profitability.
McCormick is expected to post a decline in second-quarter revenue, hurt by lower demand for its pricey spices and seasonings. Investors will look out for comments on demand, pricing actions and annual forecasts.
On the Latin American front, Mexico's central bank is expected to hold the benchmark interest rate steady at 11%.
Compiled by Indrishka Bose; Editing by Shreya Biswas
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