What to Watch in the Day Ahead - Wednesday, August 21
20/08/2024 19:30
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Investors will look to parse the minutes from the Federal Open Market Committee's July meeting
for cues about the Federal Reserve's future interest rate path.
Target is expected to post a rise in second-quarter revenue, benefiting from steady demand for
essentials and groceries, while betting on moderating inflation to boost sales of discretionary
items. Investors will look out for comments on consumer health, purchasing decision by various
income groups and the retailer's initiatives to bring more private-label brands and lower prices
on some goods.
Macy's is expected to post a marginal fall in second-quarter sales as demand for discretionary
goods at department stores remains pressured due to sticky inflation. Investors will watch out
for details on Macy's cost control measures under CEO Tony Spring and comments on consumer
sentiment in the back half of the year.
TJ Maxx parent TJX Cos is expected to post a rise in second-quarter revenue, helped by steady
demand for its off-price products. Investors will look for comments on demand, costs and annual
forecasts.
Synopsys is expected to report higher third-quarter revenue, driven by growing demand for its
chip design software amid AI boom. Investors will be looking for commentary about its $35
billion deal to buy Ansys as the UK's competition watchdog is looking into whether the deal
would affect competition in Britain.
Zoom Video is expected to post a rise in revenue in the second quarter, helped by robust demand
for its product portfolio on continued adoption of hybrid work.
Canada's producer prices are likely to show a 0.3% fall in July after being unchanged in the
previous month.
In the Latin American economic front, Argentina is scheduled to release the economic activity
numbers for June.
(Compiled by Archak Sengupta; Edited by Shilpi Majumdar)