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November 20 – Deere is expected to report a sharp decline in fourth-quarter profit when it reports results. Investors will be watching for feedback on farm equipment demand and dealer inventory.
The Labor Department’s Bureau of Labor Statistics will report that initial claims for unemployment benefits for the week ending Nov. 16 likely increased to 220,000 from 217,000 the week before. The number of people receiving benefits after an initial week of aid, or continuing claims, likely remained unchanged at 1.873 million in the week ending November 2.
Gap is expected to report higher revenue in the third quarter as turnaround efforts help boost demand for its Old Navy and namesake brands. Investors will be paying attention to comments on holiday expectations as discretionary spending continues to be up and down in the United States.
Federal Reserve Bank of Cleveland President Beth Hammack will deliver welcome remarks and participate in a conversation ahead of the 2024 Financial Stability Conference: Emerging Risks in an Era of Interconnectedness and Innovation, hosted by the Cleveland Fed and the Office of Financial Research. (0845/1345 & 1230/1730) Austan Goolsbee, president of the Federal Reserve Bank of Chicago, will participate in a question-and-answer session before the Central Indiana Corporate Partnership in Indianapolis. (1225/1725) Federal Reserve Vice Chairman for Supervision Michael Barr will participate in a discussion on “banks and artificial intelligence” ahead of the 2024 FinRegLab AI Symposium in Washington. (1640/2140)
Analysts expect Baidu to report a decline in revenue in the September quarter, hurt by macroeconomic pressures on its advertising business. Analysts are also awaiting comments on how Baidu plans to recover.
Statistics Canada will release producer prices for the month of October.
Intuit, the parent company of TurboTax, is expected to report an increase in revenue in the first quarter, thanks to sustained demand for its financial management tools.
Ross Stores is expected to post an increase in revenue in the third quarter as the off-price retailer benefits from sustained demand for discretionary goods from budget-conscious consumers. Investors will be paying attention to comments on consumer sentiment and the company’s expectations for the holiday quarter.
NetApp is expected to report higher second-quarter revenue, driven by strong demand for its cloud computing services as more companies seek to streamline and learn from large amounts of data .
September retail sales data in Mexico is scheduled to be released.
