What to Watch in the Day Ahead - Wednesday, November 17

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16/11/2021 19:30

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Target Corp is expected to post a rise in third-quarter sales as it cashes in on early holiday
deals. Investors will be on the look out for comments on how Target plans to tackle pressing
supply chain problems.

Nvidia Corp is expected to show a surge in third-quarter profit and revenue powered by demand
for gaming chips and strength of its data center segment.

The Commerce Department is expected to report housing starts rose to a seasonally adjusted
annual rate of 1.576 million units in October from 1.555 million units in the previous month.
Building permits likely advanced to 1.638 million units in October from 1.586 million units in
September. 

Cisco Systems Inc is expected to post a rise in first-quarter revenue helped by strong demand
for its networking gear used in data centers and software for videoconferencing and
cybersecurity.

Baidu Inc is expected to report a rise in third-quarter revenue, driven by a boost in
advertising sales as well as strong demand for its cloud products.

Lowe's Companies Inc is expected to report a dip in third-quarter sales as demand from the
company's core base of do-it-yourself home improvement customers slows. Wall Street will also be
paying close attention to the company's profit margins as, like rival Home Depot, it spends
heavily to counter supply chain disruptions.

TJX Cos Inc is expected to post an increase in third-quarter revenue, as people buy more
affordable clothing. Investors will look out for the off-price chain's comments on current
inventory levels, potential price increases and the impact of higher freight and raw material
costs on its margins.

Canada's inflation figures for October are scheduled for release. The annual inflation rate is
expected to increase to 4.7%, from a rate of 4.4% in September. 

U.S. President Joe Biden is scheduled to visit General Motors Co's Detroit-Hamtramck electric
vehicle assembly plant.

Federal Reserve Bank of New York President John Williams is scheduled to give virtual keynote
before the 2021 U.S. Treasury Market Conference co-organized by the Federal Reserve
System. (0910/1410) Additionally, Federal Reserve Bank of San Francisco President Mary Daly will
participate in fireside chat virtually at the same event. (1240/1740)  

Elsewhere, Federal Reserve Bank President Loretta Mester will give opening remarks before
virtual 2021 Financial Stability Conference, "Planning for Surprises, Learning from Crises"
organized by the Federal Reserve Bank of Cleveland and the Office of Financial Research.
(1120/1620) Later in the day, Federal Reserve Board Governor Christopher Waller gives "Thoughts
on Stablecoins". (1240/1740) 

Federal Reserve Bank of Chicago President Charles Evans speaks about current economic conditions
and monetary policy in a moderated Q&A with the Mid-Size Bank Coalition of America.
(1605/2105) Federal Reserve Bank of Atlanta President Raphael Bostic gives closing remarks
virtually before the Federal Reserve Community Development Research Seminar Series event.
(1610/2110) 

The latest IIF Global Debt Monitor "Confronting Climate Change and Policy Normalization" is
expected to discuss the role of global debt markets in the transition to a low-carbon future and
the implications of global policy normalization in a high-debt environment amid inflationary
pressures and supply chain disruptions.

U.S. oil refiner Citgo Petroleum Corp is expected to report results for the quarter ended Sept.
30 that reflect improving motor fuel demand and higher utilization at its three refineries. It
swung to a slim, second-quarter profit on stronger fuel exports and a big contribution from its
Lemont Ill refinery that processes cheap Canadian crude.

LIVECHAT-REUTERS GLOBAL MARKETS FORUM
Even as the COP26 climate summit in Glasgow drafts "cover texts," including provisions to phase
out coal, end fossil fuel subsidies and set up rules on global carbon offsets, etc., to "keep
1.5 alive" and implement the Paris climate accord, the Reuters Global Markets Forum brings
together a special line-up of guests to discuss how these climate change goals will get funded,
what the Net Zero Standard for Oil and Gas – the required standards to help discern how energy
companies are seeking to tackle climate change - will look like, and other burning questions
like who will pay to clean up the fossil fuel industry, including dismantling oil and gas
facilities. Join us on the Reuters Global Markets Forum for discussions on the COP26 climate
summit with Linda Sigrid Hammer and Tore Longva, Principal Consultants, Maritime at DNV
(0800/1300), Elaine Weidman-Grunewald, Board Member of European Sustainable Growth Acquisition
Corp and former Chief Sustainability & Public Affairs Officer, Ericsson (1000/1500) and Leonardo
Beltrán, Former Mexican Deputy Secretary for Planning and Energy Transition, Distinguished
Visiting Fellow at Columbia's Center for Global Energy Policy. (1100/1600) To join the
discussions, click here https://www.refinitiv.com/en/products/refinitiv-messenger/editorial-communities-financial-forums

 (Compiled by Nachiket Tekawade in Bengaluru; Editing by Krishna Chandra Eluri)
 ((Nachiket.Tekawade@thomsonreuters.com;))