What to Watch in the Day Ahead - Friday, January 17

Huntington Bancshares

16/01/2025 19:30

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For investors in the U.S., a Federal Reserve data release could offer insights into the
manufacturing sector's performance in December. Factory output is projected to have increased at
the same rate of 0.2% recorded in November. Meanwhile, industrial production could have
rebounded in December with a 0.3% rise, after slipping 0.1% in the previous month. Capacity
utilization likely increased to 77% last month from 76.8% in November. Separately, a report on
the housing market is due from the Commerce Department's Census Bureau. Overall housing starts
likely rose to a seasonally adjusted annual rate of 1.320 million units last month from 1.289
million units in November, while building permits may have fallen to 1.460 million units in
December from 1.493 million units in the month prior.

The oilfield services company Schlumberger NV is slated to release fourth-quarter and full-year
results. It is expected to report an uptick in profit from the year-ago period on stronger
international demand for its services. Investors will watch for comments on the closing of the
ChampionX deal and the outlook for the industry in 2025.

A few regional banks will also report their earnings. Fourth-quarter profit of Citizens
Financial is expected to more than double thanks to strong growth in fee-based income, when it
reports its earnings. Huntington Bancshares is set to post a rise in its fourth-quarter profit,
helped by robust performance in its capital markets unit. Additionally, Regions Financial is
expected to report a higher fourth-quarter profit, driven by higher dealmaking and debt
underwriting fees. 

State Street is expected to report a jump in fourth-quarter profit when it reports its quarterly
earnings. A rally in equities is expected to boost the custodian bank's assets under management.

The Bank of Canada is scheduled to publish a report based on a review of its monetary policies
during the COVID-19 pandemic. The central bank says that the review will examine the exceptional
policy actions undertaken in response to the COVID-19 pandemic and highlight lessons that will
shape the Bank's response in future crises. The Bank will also publish an assessment of the
review by a panel of independent external experts as well as a response from the Bank's
Governing Council.

Brazil's IGP-10 inflation index is expected to rise 0.56% in January, compared with a 1.14% gain
last month.

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 (Compiled by Malini K; Editing by Shreya Biswas)
 ((Malini.K@thomsonreuters.com;))