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$328.97 0.6  0.2%

Last Trade - 18/06/21

Sector
Industrials
Size
Large Cap
Market Cap £74.67bn
Enterprise Value £103.77bn
Revenue £28.84bn
Position in Universe 127th / 6927

What to Watch in the Week Ahead and on Monday, May 17

Fri 14th May, 2021 7:33pm
(The Day Ahead is an email and PDF publication that includes the day's major stories and
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ON MONDAY 

Tencent Music Entertainment Group is expected to post a rise in first-quarter revenue aided by
recovering ad sales and addition of more paying users, as people look for newer avenues of
entertainment.

The New York Federal Reserve's Empire State Current Business Conditions index for May is due for
release. The index is expected to slip to 23.9 in May, from 26.3 in April. (0830/1230) The
National Association of Homebuilders' Housing Market Index is also scheduled for release, and is
expected to remain unchanged at 83 in May. (1000/1400)

Canadian Mortgage and Housing Corporation is expected to show seasonally adjusted annualized
rate of housing starts fell to 292,500 units in April, from 335,200 units in March. 

Inflation data for Brazil as measured by the IGP-10 price index is expected for release. 

The Federal Reserve Bank of Atlanta hosts a two-day virtual conference on "Fostering a Resilient
Economy and Financial System: The Role of Central Banks." Raphael Bostic, president of the
regional Fed, gives welcome and introductory remarks. (1000/1400) Federal Reserve Vice Chair
Richard Clarida speaks on "Sovereign Markets, Global Factors" in the conference. (1005/1405)
Later, Bostic and Clarida participate in an armchair conversation. (1025/1425) Separately,
Federal Reserve Bank of Dallas President Robert Kaplan participates in virtual Town Hall
"Discussion of Economic Developments and Implications for Monetary Policy" hosted by the Federal
Reserve Bank of Dallas. (1800/2200) 

PROMOTION
LIVECHAT - REUTERS GLOBAL MARKETS FORUM
Reuters FX Buzz Analyst Jeremy Boulton takes questions on G7 currencies and select EM FX pairs.
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REST OF THE WEEK 

Walmart Inc is expected to post its slowest same-store sales growth since the start of the
pandemic when it reports first-quarter results on Tuesday, as the year ago quarter saw a huge
bump in sales from consumers stockpiling ahead of 2020 lockdowns. The company is still expected
to see online sales surge mainly due to U.S. government stimulus checks. Analysts and investors
will also be on the look-out for any updates on how sustainable demand will be going into the
year.

The Commerce Department is expected to release housing data on Tuesday. Permits for future home
construction likely rose to a rate of 1.770 million units in April, compared to 1.759 million
units in March. Housing starts probably slipped to a seasonally adjusted annual rate of 1.710
million units in April, from 1.739 million units in March. A report from the National
Association of Realtors scheduled for release on Friday is expected to show existing home sales
likely increased to a seasonally adjusted annual rate of 6.09 million units in April, slightly
higher than the recorded 6.01 million units in March. On Thursday, the Labor department is
expected to report initial claims for state unemployment benefits likely slipped to a seasonally
adjusted 450,000 in the week ended May 10, from 473,000 in the previous week. Philadelphia
Federal Reserve's Business Conditions Index is also expected for release on Thursday and is
expected to have fallen to 43 in May, from 50.2 in April. Additionally on Friday, data firm IHS
Markit is expected to report its manufacturing flash PMI likely slipped to 60.4 in the first
half of May, from a final reading of 60.5 in April. 

Target Corp is expected to post a decline in first-quarter same-store sales on Wednesday, as the
retailer faces tough comparisons from a year earlier when it reported sales surge due to people
stockpiling essentials. Target is still expected to gain market share with initiatives like
fresh grocery via Drive Up and loyalty programs.

Home Depot Inc is expected to report a jump in first-quarter sales on Tuesday, however,
investors will keep a closer look on the company's outlook on home improvement demand as the
roll out of COVID-19 vaccines encourages people to venture out again. A jump in lumber prices is
also expected to impact Home Depot's earnings.

Deere & Co is expected to post a rise in second-quarter profit on Friday, as equipment demand
gets a boost from a recovering global economy and increased infrastructure spending. Investors
will look for an update on supply chain constraints, particularly semiconductor crunch, and what
impact the company expects to see in the coming months.

Cisco Systems Inc is expected to post a rise in third-quarter revenue on Wednesday, as remote
work drove demand for its teleconferencing tools and cybersecurity products. Analysts will look
out for comments on enterprise client spending on networking infrastructure.

Department store chain Macy's Inc is expected to show a first-quarter sales recovery on Tuesday
as customers, flush with stimulus checks, splurged on apparel, denim and accessories as they
ready to return to their pre-pandemic routines. Management's comments on fashion cycles and
forecast for the year as customers begin to return to stores will be in focus.

Baidu Inc is expected to post a rise in first-quarter revenue on Tuesday, driven by a recovery
in advertising and demand for its cloud platform.

Take-Two Interactive Software Inc is expected to show a fall in fourth-quarter revenue on
Tuesday as the company saw less demand for its top franchises "NBA 2K" and "Grand Theft Auto"
due to easing of pandemic-related restrictions.

Lowe's Companies Inc is expected to report a rise in first-quarter sales on Wednesday, but
investors will be on the lookout for any update to the company's full-year forecast on any
slowdown in demand for home improvement goods, as the rollout of vaccines encourages more people
to get out of their houses. 

Off-price retailer TJX Companies Inc is expected to post an increase in first-quarter revenue on
Wednesday, as more people visit its stores following an easing of COVID-19 restrictions.
Investors will look out for comments on current levels of demand.

JD.com Inc is expected to post a rise in first-quarter revenue on Wednesday, driven by a
pandemic-induced shift to online shopping.

Canada's CAE Inc is expected to post a decline in fourth-quarter profit and revenue on
Wednesday, as demand for its full-flight simulators and pilot training fell while the pandemic
weighed on air travel demand. Investors will look for comments or forecast on the company's
fiscal year 2022.

Department store operator Kohl's Corp is expected to post an increase in first-quarter revenue
on Thursday, as more people visit its stores following an easing of COVID-19 restrictions.
Investors will look out for comments on current levels of demand.

Applied Materials Inc is expected to post a rise in second-quarter revenue on Thursday, as a
global chip shortage, which has hit automakers specifically hard, increased demand for its
semiconductor manufacturing equipment.

On Thursday, Ralph Lauren Corp is expected to show a recovery in the fourth-quarter from the
prior quarter, boosted by a rebound in demand in North America and China. Investors will look
out for the company's forecast and any comments on demand for the luxury goods industry.

AbbVie Inc CEO Richard Gonzalez testifies at U.S. House of Representatives Oversight and Reform
Committee hearing. 

Atlanta Fed President Raphael Bostic gives introductory remarks on the second day of the
"Fostering a Resilient Economy and Financial System: The Role of Central Banks" virtual
conference. Later, Federal Reserve Bank of Dallas President Robert Kaplan moderates "Policy
Session 2: Is the Financial System's Backbone, the U.S. Dollar, also a Transmitter of Stress?"
at the same conference.

On Wednesday, Federal Reserve Bank of St. Louis President James Bullard speaks on the U.S.
economy and monetary policy before virtual Official Monetary and Financial Institutions Forum
fireside chat. Federal Reserve Bank of Dallas President Robert Kaplan moderates a conversation
on national and global economic issues before virtual Global Perspectives series hosted by the
Federal Reserve Bank of Dallas on Thursday.

Federal Banks of Atlanta, Dallas and Richmond host the "Technology-Enabled Disruption
Conference: Implications for Business, Labor Markets and Monetary Policy" on Friday. Dallas Fed
President Robert Kaplan gives introduction and opening remarks and concluding remarks at the
virtual conference. Kaplan also moderates "Technology-Enabled Disruption: A Conversation" at the
conference. Later, Kaplan, Federal Reserve Bank of Atlanta President Raphael Bostic and Federal
Reserve Bank of Richmond President Thomas Barkin participate in Policymaker Roundtable.
Separately on Friday, Federal Reserve Bank of San Francisco President Mary Daly participates
"Wage Dynamics" panel discussion before virtual NBER (National Bureau of Economic Research"
Spring '21 Wage Dynamics in the 21st Century Conference. 

Bank of Canada Governor Tiff Macklem to hold a press conference on how Canada's financial system
is performing amid the COVID-19 pandemic recovery.

Statistics Canada is expected to release the country's inflation data on Wednesday. Canada's
annual inflation rate likely rose to 3.1% in April, from 2.2% in March. On Friday, it will
release data on retail sales, which likely rose 2.3% in March, slowing down from a 4.8% rise in
February.  

Mexico's retail sales data is expected for release on Friday. Also on Friday, Peru's central
bank will release fiscal balance and current account balance data for the Latin American
country.

 (Compiled by Nachiket Tekawade; Editing by Shailesh Kuber)
 ((Nachiket.Tekawade@thomsonreuters.com;))
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