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
متعلقہ اثاثے
تازہ ترين خبريں
دستبرداری: XM Group کے ادارے ہماری آن لائن تجارت کی سہولت تک صرف عملدرآمد کی خدمت اور رسائی مہیا کرتے ہیں، کسی شخص کو ویب سائٹ پر یا اس کے ذریعے دستیاب کانٹینٹ کو دیکھنے اور/یا استعمال کرنے کی اجازت دیتا ہے، اس پر تبدیل یا توسیع کا ارادہ نہیں ہے ، اور نہ ہی یہ تبدیل ہوتا ہے یا اس پر وسعت کریں۔ اس طرح کی رسائی اور استعمال ہمیشہ مشروط ہوتا ہے: (i) شرائط و ضوابط؛ (ii) خطرہ انتباہات؛ اور (iii) مکمل دستبرداری۔ لہذا اس طرح کے مواد کو عام معلومات سے زیادہ کے طور پر فراہم کیا جاتا ہے۔ خاص طور پر، براہ کرم آگاہ رہیں کہ ہماری آن لائن تجارت کی سہولت کے مندرجات نہ تو کوئی درخواست ہے، اور نہ ہی فنانشل مارکیٹ میں کوئی لین دین داخل کرنے کی پیش کش ہے۔ کسی بھی فنانشل مارکیٹ میں تجارت میں آپ کے سرمائے کے لئے ایک خاص سطح کا خطرہ ہوتا ہے۔
ہماری آن لائن تجارتی سہولت پر شائع ہونے والے تمام مٹیریل کا مقصد صرف تعلیمی/معلوماتی مقاصد کے لئے ہے، اور اس میں شامل نہیں ہے — اور نہ ہی اسے فنانشل، سرمایہ کاری ٹیکس یا تجارتی مشورے اور سفارشات؛ یا ہماری تجارتی قیمتوں کا ریکارڈ؛ یا کسی بھی فنانشل انسٹرومنٹ میں لین دین کی پیشکش؛ یا اسکے لئے مانگ؛ یا غیر متنازعہ مالی تشہیرات پر مشتمل سمجھا جانا چاہئے۔
کوئی تھرڈ پارٹی کانٹینٹ، نیز XM کے ذریعہ تیار کردہ کانٹینٹ، جیسے: راۓ، خبریں، تحقیق، تجزیہ، قیمتیں اور دیگر معلومات یا اس ویب سائٹ پر مشتمل تھرڈ پارٹی کے سائٹس کے لنکس کو "جیسے ہے" کی بنیاد پر فراہم کیا جاتا ہے، عام مارکیٹ کی تفسیر کے طور پر، اور سرمایہ کاری کے مشورے کو تشکیل نہ دیں۔ اس حد تک کہ کسی بھی کانٹینٹ کو سرمایہ کاری کی تحقیقات کے طور پر سمجھا جاتا ہے، آپ کو نوٹ کرنا اور قبول کرنا ہوگا کہ یہ کانٹینٹ سرمایہ کاری کی تحقیق کی آزادی کو فروغ دینے کے لئے ڈیزائن کردہ قانونی تقاضوں کے مطابق نہیں ہے اور تیار نہیں کیا گیا ہے، اسی طرح، اس پر غور کیا جائے گا بطور متعلقہ قوانین اور ضوابط کے تحت مارکیٹنگ مواصلات۔ براہ کرم یقینی بنائیں کہ آپ غیر آزاد سرمایہ کاری سے متعلق ہماری اطلاع کو پڑھ اور سمجھ چکے ہیں۔ مذکورہ بالا معلومات کے بارے میں تحقیق اور رسک وارننگ ، جس تک رسائی یہاں حاصل کی جا سکتی ہے۔