What to Watch in the Day Ahead - Friday, February 25
24/02/2022 19:43
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Markets will work through another spate of economic figures that
include consumer spending, personal consumption expenditures
(PCE) price index, consumer sentiment and pending home sales.
Consumer spending is likely to rise 1.5% in January after
dropping 0.6% in December. The core price index for PCE, a
measure for goods and services without volatile food and energy
prices, is expected to post an annual gain of 5.1% in January.
The core PCE price index increased 5.8% on yearly basis in the
previous month. On monthly basis, the core PCE price index is
expected to have risen 0.5%, same as its previous month's
reading. Orders for non-defense capital goods excluding aircraft
are expected to have gained 0.5% in January, after an unchanged
reading in the previous month. The final reading of the
University of Michigan's consumer sentiment index is expected to
come in at 61.7 for February, similar to its preliminary score.
Economists polled by Reuters expect pending home sales to rise
1% in January, following a drop of 3.8% in the month before.
Starbucks Corp employees at a cafe in Mesa, Arizona who voted by
mail about whether to join a union will have their ballots
counted. If a majority votes to unionize, it would create the
first unionized corporate-owned Starbucks location outside of
New York state.
Drug distributors McKesson Corp, AmerisourceBergen Corp and
Cardinal Health Inc and drugmaker Johnson & Johnson face a
deadline to decide whether a sufficient number of cities and
counties nationally have joined a proposed settlement worth up
to $26 billion to resolve lawsuits alleging they fueled the U.S.
opioid epidemic. More than 90% of local governments nationwide
that were eligible to participate in the settlement have done
so. The municipalities and counties are located in 45 states and
several territories that had earlier agreed to settle with the
three largest U.S. drug distributors after the proposed
settlement was announced in July.
Canadian Imperial Bank of Commerce and National Bank of Canada
are set to release their first-quarter results. Analysts and
investors have been bracing for a somewhat more muted first
quarter for Canada's major banks, following several periods of
better-than-expected results, particularly due to expectations
of higher expenses and declines in capital markets revenues.
Brazil's broadest price index is likely to show a rise in
inflation in February. The IGP-M index, which encompasses
wholesale, construction costs and consumer prices, is expected
to increase 1.86%, compared with a 1.82% gain in the previous
month. Separately, Mexico's economy is expected to shrink 0.1%
in the fourth quarter from the previous three-month period. In
annual terms, the economy is likely to expand 1% compared with a
year earlier. The country is expected to post a $3.84 billion
trade deficit in January in non-seasonally adjusted terms,
compared with a surplus of $590 million in December.
LIVECHAT- REUTERS GLOBAL MARKETS FORUM
The Reuters Global Markets Forum unpacks developments impacting
the Chinese economy and sheds light on the path ahead for
China's markets, policy, external trade and geopolitical
relationships. To join a discussion with Victoria Courmes, GMO
portfolio manager for emerging country debt (1000/1500), click
here https://www.refinitiv.com/en/products/refinitiv-messenger/global-markets-forum
(Compiled by Sourav Bose in Bengaluru; Editing by Aditya Soni)
((sourav.bose@thomsonreuters.com;))