To watch during the day – Thursday May 16 – 05/15/2024 at 8:31 p.m.

To watch during the day – Thursday May 16 – 05/15/2024 at 8:31 p.m.
To watch during the day – Thursday May 16 – 05/15/2024 at 8:31 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

(The Day Ahead is an electronic and PDF publication that includes the day’s top events and stories, analysis and other material. To receive The Day Ahead, Eikon users can register at DAY/US. Users of Thomson One can register at RT/DAY/US All times are ET/GMT).

May 15 –

Walmart is expected to post higher first-quarter sales and raise its outlook for the year as the retail giant benefits from demand for its lower-priced groceries, deeper discounts and more. ‘some anticipation of tax refunds in March. Investors await updates on the acquisition of smart TV maker Vizio, which has received calls from the FTC for more information, and the operating income growth it sees from joining Walmart and Sam’s Club and advertising.

Federal Reserve Bank of Richmond President Thomas Barkin is scheduled to be interviewed live on CNBC. (1000/1400) Cleveland Fed President Loretta Mester is 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 Bostic will likely speak on the economic outlook in a moderated conversation hosted by the Jacksonville Business Journal. (1550/1950) Philadelphia Fed President Patrick Harker will likely speak on “The Economic Impact of Higher Education and Healthcare Institutions” and participate in a conversation at the hybrid 2024 Anchor Economy Conference . (1030/1430) Separately, Federal Reserve Vice Chairman for Supervision Michael Barr is expected to testify at the Senate Banking, Housing and Urban Affairs Committee’s hearing on oversight of financial regulators. (1000/1400)

Investors welcomed the slowdown in consumer price inflation in April, supporting expectations that the Federal Reserve will cut interest rates this year. On the U.S. economic front, the Commerce Department’s Census Bureau is expected to report that single-family housing starts likely increased to 1.420 million in April from 1.321 million in March. Building permits are expected to increase by 1.485 million units in April, after adding 1.467 million units the previous month. At the same time, the Labor Department is expected to release initial claims for state unemployment benefits, which are expected to decrease by 11,000 to 220,000 on a seasonally adjusted basis in the week ending May 11 . The number of people receiving benefits after an initial week of aid is expected to reach 1.785 million for the week ending May 4. A separate report from the Labor Department is expected to show that import prices likely rose 0.3% in April, while export prices are expected to rise 0.4% for the month. Additionally, the Philadelphia Fed Business Index likely fell to 8 in May from 15.5 in April. In addition, the Federal Reserve is expected to release data on industrial production, expected at 0.1% in April.

Semiconductor equipment supplier Applied Materials is expected to report a decline in second-quarter revenue, likely due to weak demand due to U.S. restrictions on exports of chips and manufacturing equipment. chips advanced to China. Investors will await comments on the company’s deliveries to China.

Deere is expected to report a decline in second-quarter revenue as demand for tractors and combines is affected by a slowdown in the agricultural sector as farmers cut spending due to lower crop prices and incomes. agricultural. Investors will be watching the company’s forecasts, its comments on dealer inventory, production and margins.

Search engine giant Baidu’s revenue and profit growth are expected to be flat from last year as China’s weak economy weighs on advertising spending. Investors will closely monitor updates to its AI chat tool Ernie Bot, including its sales.

JD.com is expected to report first-quarter results at a time when Chinese consumers remain cautious amid broader economic uncertainties. The Chinese e-commerce giant is expected to post a rise in revenue in the first quarter, boosted by sustained demand thanks to deep discounts.

Video game publisher Take-Two Interactive is expected to report a decline in fourth-quarter revenue, due to weak consumer demand for its popular titles such as “Grand Theft Auto” and “NBA 2k.” reducing their expenses in a difficult economic context.

Under Armor is expected to post a decline in fourth-quarter revenue as weak consumer demand impacts the apparel maker’s sales in the wholesale channel. Investors will be paying attention to comments on the benefits of ongoing cost-cutting measures and discount strategies for the year.

Canada Goose is expected to report an increase in fourth-quarter revenue, helped by a rebound in sales in China, even as the luxury parka maker sees weak demand in the United States. Investors will be paying attention to comments on consumer sentiment in China and North America, margin recovery and forecasts for the next fiscal year.

Pembina Pipeline (Canada) is scheduled to hold an investor day. Energy sector players are awaiting a final investment decision on the Cedar LNG project, which Pembina has said it wants to make by June.

In Latin America, inflation in Brazil, measured by the IGP-10 price index, is expected to increase by 0.95% in May, after falling by 0.33% in April.

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