What to Watch in the Week Ahead and on Monday, July 15
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ON MONDAY
Federal Reserve Chair Jerome Powell is set to participate in a conversation hosted by the Economic Club of Washington. (1230/1630) Separately, Federal Reserve Bank of San Francisco President Mary Daly is expected to attend the session "The Bull, the Bear, and the Banker" before the Fortune Brainstorm Tech 2024. (1635/2035)
Amazon Prime Day sales are expected to hit record highs of $14 billion this year as early back-to-school shoppers hunt for deals, according to Adobe Analytics. The two-day sales event is happening four days later than last year, but has sparked competition from retailers including Walmart, Target and Shein, who are posting earlier promotions this year.
Goldman Sachs is expected to report its second-quarter earnings. Analysts expect a massive profit jump, thanks to a rebound in dealmaking and trading.
BlackRock, the world's largest asset manager, will release second-quarter results after recently announcing plans to expand its private market business as it looks for new areas of growth.
The U.S. Food and Drug Administration is expected to make its decision known on Orexo AB's nasal rescue medication for opioid overdose.
On the Canadian economic front, Statistics Canada is scheduled to report wholesale trade figures and manufacturing sales data for May.
In Latin America, Brazil's economic activity data for May is scheduled for release. The seasonally adjusted IBC-Br economic activity index had edged higher by 0.01% in April.
REST OF THE WEEK
On the U.S. economic tap, the Commerce Department is set to report the retail sales figures on Tuesday. Retail sales were likely flat in June, compared with a 0.1% rise in the month before. Retail sales excluding autos is expected to increase 0.1% in June after having fallen 0.1% in May. On the same day, the Labor Department's Bureau of Labor Statistics is expected to report the import and export prices data. On Thursday, the Labor Department is set to release the jobless claims numbers for the week ending July 13. Furthermore, on Wednesday, the Commerce Department's Census Bureau is expected to say housing starts likely rose to a seasonally adjusted annual rate of 1.305 million units in June from 1.277 million units in May. At the same time, building permits likely fell to a rate of 1.385 units in June from 1.399 units in May. On the same day, a report from the Fed is expected to show industrial production in June rose 0.3%, compared with a 0.9% rise in the earlier month. Capacity utilization for the industrial sector likely rose to 78.6% last month. Meanwhile, on Tuesday, data is expected to show the National Association of Home Builders/Wells Fargo Housing Market Index likely rose to 44 in July from 43 in June. Additionally, on the same day, a report from the Commerce Department's Census Bureau is set to show the business inventories increased 0.3% in May after a similar rise in the month before.
Bank of America is expected to report a drop in profit when it releases its second-quarter earnings on Tuesday, as a drop in net interest income offsets investment banking gains.
On Wednesday, Federal Reserve Bank of Richmond President Thomas Barkin gives informal remarks on the economy before the Greater Prince George's Business Roundtable. Meanwhile, Federal Reserve Board Governor Christopher Waller will be speaking on the economic outlook before a hybrid event hosted by the Federal Reserve Bank of Kansas City on the same day. On Thursday, Federal Reserve Bank of Dallas President Lorie Logan is expected 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 Federal Reserve Bank of Atlanta. Also, Federal Reserve Board Governor Michelle Bowman is set to speak on "Accountability and Reform" at the same conference. Additionally, Federal Reserve Bank of San Francisco President Mary Daly is scheduled to participate in a fireside chat at the event. On Friday, Federal Reserve Bank of Atlanta President Raphael Bostic is set to deliver closing remarks for the same. Separately, on Friday, Federal Reserve Bank of New York President John Williams is expected to participate in "A New Era for Monetary Policy" panel before the BCRP-RBWC-IDB 15th Annual Conference: "The Rewiring of the Global Economy" organized by the Central Reserve Bank of Peru, Reinventing Bretton Woods Committee and the Inter-American Development Bank. On Tuesday, Federal Reserve Board Governor Adriana Kugler is scheduled to speak on "Challenges Facing Economic Measurement and Creative Solutions" before the 21st Annual National Association for Business Economics Foundation Economic Measurement Seminar.
Morgan Stanley is expected to report second-quarter results on Tuesday, July 16, and analysts will check the growth in investment banking fees and if pace of new asset gathering at the wealth division
Johnson and Johnson will report second quarter earnings before markets on Wednesday. Investors will lookout for performance across the Medtech unit and the demand for top selling drugs like psoriasis drug Stelara. Any updates on annual outlook would also be looked out for.
The Federal Reserve is scheduled to issue the Beige Book on Wednesday.
On Thursday, 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.
Credit card giant American Express is expected to report higher second quarter profit due to a massive jump in net interest income, when it publishes its earnings on Friday.
Halliburton is expected to post a rise in profit compared with last year, on Friday, as investments in new technology continue to boost its margins amid a decline in rig activity in North America. Investors would keep an eye on the North American activity and any commentary on M&A.
On Friday, top oilfield service provider SLB is expected to report a rise in profit compared with last year, backed by higher activities in the Gulf of Mexico and the Middle East. However, investors will be looking at commentary into North America drilling activity and whether growth in international markets would plateau during the second half of 2024.
United Airlines is expected to report a quarterly profit on Wednesday. However, the focus will be on the industry's pricing power after Southwest and American Airlines flagged discounting pressure.
UnitedHealth Group will report its second quarter results before markets open on Tuesday. Investors will lookout for medical costs for the health insurer and changes to 2024 outlook. Any update regarding the cyberattack at its Change Healthcare unit will also be closely monitored.
U.S. pipeline and terminal operator Kinder Morgan is expected to report a rise in fourth-quarter profit after the markets close on Wednesday. Investors will look out for commentary on LNG demand outlook and the potential increase in natural gas demand for electric generation associated with artificial intelligence operations, crypto currency mining and data centers.
Abbott Laboratories is set to report second-quarter results before the bell on Thursday. Investors will look out for its quarterly performance in the medical devices segment, any changes to the 2024 outlook as well as rollout plans and growth expectations for company's 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.
On Friday, U.S. regulators are set to hold a public meeting on Capital One's takeover of Discover, a merger that has drawn intense opposition from lawmakers and consumer groups.
PNC Financial Services Group is set to report its second-quarter results on Tuesday. Analysts expect the bank's profit to fall hurt by lower interest income.
Charles Schwab is expected to post a rise in second-quarter profit on Tuesday, helped by a rise in client assets and a jump in asset management fees.
U.S. lender Citizens Financial is expected to see a drop in second-quarter profit due to weaker net interest income when it reports earnings on Wednesday.
Elevance Health will report second quarter results before markets open on Wednesday. Investors will closely focus on medical costs for the insurer and comments around the demand trends for medical services. Color on the U.S. government's quality rates for medical insurers will also be of interest.
U.S. Bancorp is expected to report a drop in second-quarter profit due to a fall in interest income on Wednesday. Analyst and investor focus is expected on the lender's deposit costs and loan loss provisions.
Asset and wealth manager Northern Trust is set to report its second-quarter results on Wednesday. The firm is expected to see a jump in profit thanks to higher fee income.
KeyCorp is slated to report its second quarter results on Thursday. The regional bank's profit is expected to fall as the firm pays out more on costlier deposits.
On Thursday, M&T Bank's second quarter profit is expected to fall as costlier deposits erode the lender's interest income.
Uniform rental firm Cintas Corp is expected to post a rise in fourth-quarter sales on Thursday, 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 give its second quarter results on Thursday. Investor focus will be on the demand for its surgical robots.
Fifth Third Bancorp is set to report its second quarter results on Friday. The bank is expected to post a jump in profit driven by lower operating expenses.
Huntington Bancshares will likely report a fall in second quarter profit on Friday as its interest income takes a hit due to higher deposit costs and choppy loan demand. Analysts and investor focus is expected on the outlook for interest income in the second half of the year as the U.S. Federal Reserve's path on interest rate cuts continues to remain unclear.
In Canada, the country’s June inflation data is scheduled for release on Tuesday. Additionally, the Canadian Mortgage and Housing Corporation is likely to report housing starts numbers for June on the same day. On Friday, Statistics Canada is set to deliver the country’s retail sales figures for May and producer prices data for June.
On the Latin American economic front, on Wednesday, inflation in Brazil, as measured by the IGP-10 price index, is likely to show a rise of 0.82% in July, compared to a 0.83% gain in June. Meanwhile on Thursday, Argentina's economic activity data for May and trade balance figures for June are due.
Compiled by Haritha K P; Editing by Shreya Biswas
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ข่าวล่าสุด
ข้อความสงวนสิทธิ์: บริษัทในเครือ XM Group มีการให้บริการดำเนินคำสั่งและการเข้าถึงแพลตฟอร์มซื้อขายออนไลน์ของเรา ซึ่งช่วยให้บุคคลสามารถดู และ/หรือใช้ข้อมูลที่มีอยู่บนหรือผ่านทางเว็บไซต์ ซึ่งไม่ได้มีการเปลี่ยนแปลงหรือขยายความจากสิ่งนี้ อีกทั้งการเข้าถึงดังกล่าวจะอยู่ภายใต้: (i) เงื่อนไขและข้อตกลง; (ii) คำเตือนเกี่ยวกับความเสี่ยง; และ (iii) ข้อความสงวนสิทธิ์ฉบับเต็ม ดังนั้นข้อมูลดังกล่าวจึงเป็นเพียงแค่ข้อมูลทั่วไปเท่านั้น นอกจากนี้โปรดทราบว่าข้อมูลต่างๆ บนแพลตฟอร์มซื้อขายออนไลน์ของเราไม่ได้มีการเชื้อเชิญหรือถือเป็นข้อเสนอให้ทำธุรกรรมใดๆ บนตลาดการเงิน และการซื้อขายบนตลาดการเงินใดๆ มีความเสี่ยงในระดับสูงกับเงินทุนของคุณ
เนื้อหาทั้งหมดที่ถูกเผยแพร่อยู่บนแพลตฟอร์มเทรดออนไลน์ของเรามีวัตถุประสงค์เพื่อให้ข้อมูล/ความรู้เท่านั้นและไม่มี – และไม่ควรถือว่ามี – คำแนะนำด้านการเงิน, ภาษีการลงทุน, หรือการเทรด หรือข้อมูลราคาย้อนหลัง, หรือข้อเสนอ, หรือการเชื้อเชิญให้ทำธุรกรรมใดๆ เกี่ยวกับตราสารทางการเงินหรือโปรโมชั่นทางการเงินสำหรับท่าน
เนื้อหาของบุคคลที่สามใดๆ รวมถึงเนื้อหาที่ถูกจัดเตรียมขึ้นโดย XM เช่น ข้อคิดเห็น, ข่าวสาร, บทวิเคราะห์, ราคา, ข้อมูลอื่นๆ หรือลิงก์ไปยังเว็บไซต์ของบุคคลที่สามที่อยู่ในเว็บไซต์นี้ถูกจัดทำขึ้น “ตามที่เป็น” ซึ่งเป็นการแสดงความคิดเห็นเกี่ยวกับตลาดโดยทั่วไปและไม่ถือเป็นคำแนะนำด้านการลงทุน เนื่องจากเนื้อหาเหล่านี้ถือเป็นบทวิจัยด้านการลงทุน ท่านจะต้องทราบและยอมรับว่า เนื้อหาเหล่านี้ไม่ได้มีวัตถุประสงค์และไม่ได้มีการถูกจัดเตรียมขึ้นตามข้อกำหนดทางด้านกฎหมายที่ถูกออกแบบขึ้นมาเพื่อส่งเสริมการวิจัยด้านการลงทุนที่เป็นอิสระ ดังนั้นเนื้อหาเหล่านี้ถือเป็นการสื่อสารทางการตลาดภายใต้กฎหมายและกฎระเบียบที่เกี่ยวข้อง โปรดอ่านและทำความเข้าใจประกาศเกี่ยวกับบทวิจัยด้านการลงทุนที่ไม่ได้มีความเป็นอิสระและคำเตือนเกี่ยวกับความเสี่ยงซึ่งมีความเกี่ยวข้องกับข้อมูลต่างๆ ดังที่ได้กล่าวไปแล้ว โดยท่านสามารถดูได้ ที่นี่
