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COST - Costco Wholesale News Story

$452.39 1.7  0.4%

Last Trade - 15/10/21

Consumer Cyclicals
Large Cap
Market Cap £145.38bn
Enterprise Value £143.11bn
Revenue £142.50bn
Position in Universe 54th / 7247

What to Watch in the Week Ahead and on Monday, September 20

Fri 17th September, 2021 7:43pm
(The Day Ahead is an email and PDF publication that includes the day's major stories and
events, analyses and other features. To receive The Day Ahead, Eikon users can register at
 DAY/US . Thomson One users can register at RT/DAY/US. All times in ET/GMT)

On the U.S. economic calendar, the NAHB/Wells Fargo Housing Market index is due. It is expected
to come in at a reading of 74 in Septemebr from 75 in the previous month. (1000/1400) 

Homebuilder Lennar Corp is expected to report a rise in third-quarter profit and revenue, helped
by strong demand and higher home prices amid a severe housing shortage in the United States.
Investors will look for updates on the company's financial forecast.

The lithium industry is likely to hold its largest annual gathering, as concerns grow over
whether supply can keep up with rising demand for the white metal as EV standards are set across
the globe and the internal combustion engine is phased out. Speakers and presentations from
NeoLithium, Piedmont Lithium, industry consultants and scientists, and more.

Mike Dolan, Reuters editor at large, finance & markets, takes a look at the major themes and key
events to watch in the week ahead. (0600/1000) To join the conversation, click here


U.S. Federal Reserve's Federal Open Market Committee starts its two-day meeting on interest
rates on Tuesday. Investor will look for an update on the central bank's tapering strategy.

On the U.S. economic front, the Commerce Department is scheduled to release second-quarter data
for current account deficit on Tuesday. It is likely to show a $191.2 billion gap following a
$195.7 billion in the last quarter. On the same day, permits for future homebuilding are
expected to rise to 1.6 million units in August after rising 1.635 million units in July.
Separately, August data for housing starts is also due. It is likely to rise to 1.560 million
units from 1.534 million units in July. On Wednesday, existing home sales are expected to have
dropped to 5.88 million units in August from 5.99 million units in July. On Thursday, data on
initial claims for state unemployment benefits for the week ended Sept. 18 is due. The IHS
Markit survey's flash services sector PMI is also due on the same day. On Friday, the Commerce
Department is scheduled to release new home sales data. It is likely to show a rise of 0.713
million units in August from 0.708 million units in the previous month. 

On Thursday, Nike Inc is expected to post a rise in first-quarter sales and profit, but all eyes
will be on the company's outlook for the rest of the year, with analysts' expecting factory
closures in Vietnam due to the COVID-19 pandemic to have a major impact on footwear supplies in
the coming months.

Membership-only retail chain Costco Wholesale Corp on Thursday is expected to post a jump in
fourth-quarter revenue as COVID-19 vaccinations and easing curbs boosted consumer spending.
Investors will be on the lookout for the company's commentary on supply-chain concerns and the
impact of the Delta variant on its business

Cheerios cereal maker General Mills Inc is expected to post a dip in first-quarter revenue on
Wednesday, as the reopening of restaurants has slowed demand for packaged foods. Analysts and
investors will be looking out for the company's comments on inflation.

Car companies from around the world roll into Detroit to show their latest offerings in the
North American International Auto Show, on Friday.  

On Friday, a conference is scheduled before U.S. District Judge Kevin Castel in Manhattan in
multi-district litigation involving some 20 lawsuits, including a lawsuit led by Texas on behalf
of 14 U.S. states, accusing Alphabet Inc's Google of antitrust violations for acting like a
display advertising monopoly.

On Wednesday, an initial conference is scheduled before a federal judge in Manhattan in former
Fox News associate producer Jennifer Eckhart's lawsuit against the network and former anchor Ed
Henry accusing Henry of promising career advancement to coerce her into a sometimes violent
sexual relationship including rape, and accusing the network of allowing a hostile work

U.N. Security Council high-level is expected to schedule a public meeting on security and
climate change, on Thursday. The meeting will be convened on the sidelines of the annual
gathering of world leaders at the United Nations in New York.

Argentina's gross domestic product data for second quarter is scheduled for release on Tuesday.
The country's trade balance data for August is due for release on Wednesday. Argentina is also
expected to release second quarter data for unemployment rate on Thursday. On Friday, Brazil is
scheduled to post current account data for August. It post a deficit of $1.584 billion in July.
The country's IPCA-15 consumer price index is also due on the same day.

 (Compiled by Pooja Kesavan; Editing by Amy Caren Daniel)
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