What to Watch in the Day Ahead - Thursday, October 17
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On the U.S. economic calendar, Commerce Department data scheduled for release is expected to show retail sales rising 0.3% in September, compared with a 0.1% gain in August. Separately on Thursday, Federal Reserve data will show factory output dipped 0.1% in September, compared with a 0.9% increase recorded in August. Overall industrial production likely slipped 0.2% in September, after advancing 0.8% in August. The Labor Department will show initial claims for state unemployment benefits probably rose to 260,000 in the week ended October 12, from 258,000 in the previous week. The number of people receiving benefits after an initial week of aid, or continuing claims, likely increased to a seasonally adjusted 1.865 million during the week ending October 5, from 1.861 million in the prior week.
Netflix is expected to report a rise in revenue in the third quarter helped by its ad-tier and crackdown on password-sharing.
Blackstone is scheduled to report a year-on-year rise in third-quarter distributable earnings, driven by a surge in asset sales within its private equity and credit divisions, which is expected to have offset a downturn in its real estate unit.
Federal Reserve Bank of Chicago President Austan Goolsbee will give welcome remarks before the Fifth Annual "Exploring Career Pathways in Economics and Related Fields" Conference, in Chicago, Illinois. (1100/1500)
M&T Bank is poised to report its third-quarter results on Thursday. Wall Street expects a lower Q3 profit as interest income is expected to be hit by higher deposit costs. Separately, Truist is expected to report a higher profit in the third quarter, benefiting from a revival in investment banking that is likely to boost its fees and commission income. Additionally, KeyCorp's profit is expected to fall sharply in the third quarter. Analyst and investor focus will be on the bank's outlook for interest income in the fourth quarter and next year.
U.S. insurer Travelers Companies is set to report its third-quarter results. Investors want to know the extent to which the active Atlantic hurricane season will hurt profits. A call between executives and analysts will follow. Marsh & McLennan is set to report its third-quarter results. Analysts expect a rise in profit.
Elevance Health will report third-quarter results before markets open on Thursday. Investors will closely focus on medical costs for the insurer as they seek to understand the demand trends for medical services and the implications of these expenses. Colour on the U.S. government's quality ratings for health insurers will also be under scrutiny.
The board of directors of the U.S. Federal Deposit Insurance Corporation gathers for a semi-annual update on the restoration plan for the Deposit Insurance Fund.
Inflation in Brazil as measured by the IGP-10 price index is likely to show a gain of 1.34% in October, compared with a 0.18% increase in August. Peru's central bank is expected to announce a decision on interest rates.
LIVECHAT - REUTERS GLOBAL MARKETS FORUM
Philippe Gijsels, chief strategist at BNP Paribas Fortis, is scheduled to discuss the European Central Bank's rate decision and his new book The New World Economy in 5 Trends. (0900/1300) To join the conversation, email us here
Compiled by Nachiket Tekawade in Bengaluru; Editing by Vijay Kishore
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