What to Watch in the Day Ahead - Thursday, February 16

Laboratory of America Holdings

15/02/2023 19:30

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On the U.S. economic schedule, the producer prices index (PPI) for final demand is expected to
rise 0.4% in January. The PPI likely grew 5.4% in the year to January, after rising 6.2% on the
same basis in December. Excluding volatile food, energy, and trade services, producer prices
rose 0.3% in January. The core PPI grew 4.9% in the 12 months through January, after rising 5.5%
on the same basis in December. Data from the Labor Department will likely show initial claims
for state unemployment benefits rose by 4,000 to a seasonally adjusted 200,000 for the week
ended Feb. 11. The Commerce Department is scheduled to report housing starts fell to 1.360
million units in January, down from 1.382 million the previous month. Building permits likely
increased to 1.350 million units in January from 1.337 million in December.
Federal Reserve Bank of Cleveland President Loretta Mester is expected to speak remotely before
the Global Interdependence Center's "Ukraine: One Year Later – Session I: Monetary Policy and
Market Implications" event. (0845/1345) Mester is also scheduled to speak in person before the
Financial Executives International Northeast Ohio Chapter. (1800/2300) Federal Reserve Bank of
St. Louis President James Bullard is likely to give in-person presentation on the U.S. economy
and monetary policy before a hybrid Greater Jackson County Chamber luncheon, in Jackson,
Tennessee. (1330/1830) Federal Reserve Board Governor Lisa Cook is expected to give welcome
remarks before the Sadie Collective Research Reception, in Washington. (1600/2100)
U.S. Commerce Secretary Gina Raimondo is scheduled to speak about global chip shortage,
technology policy, science and research in Punchbowl News interview.
A court hearing is scheduled on Sam Bankman-Fried's access to electronic messaging apps while
out on bail ahead of trial on fraud charges, after prosecutors expressed concern the FTX
cryptocurrency exchange founder might try to hide his online activities.
Applied Materials Inc is expected to post a rise in its first-quarter revenue, driven by pent-up
demand from chipmakers looking to ramp up production.
DoorDash Inc is expected to report a rise in fourth-quarter revenue, helped by steady demand for
at-home food orders from consumers despite higher prices and inflation. Investors will look for
comments on a shift in consumer spending, cost restructuring, labor and 2023 forecast from the
company.
Snap Inc is scheduled to host an investor day. The company is expected to share details about
how it will grow its augmented reality technology and improve advertising.
Laboratory Corporation of America Holdings is scheduled to report fourth-quarter results, before
markets open. Investors are likely to focus on the company's 2023 profit and diagnostics growth
forecast, along with trends on diagnostic volumes and any updates on issues related to
importation of non-human primates from Cambodia, which were employed in many pre-clinical tests.
Status conference in JPMorgan's lawsuit against Tesla over Elon Musk's 2018 tweet about taking
the electric carmaker private is scheduled to take place.
Paramount Global is expected to post a slight rise in fourth-quarter revenue on the back of
sports-related advertising and streaming subscriber sign-ups.
Hasbro Inc is likely to post a steep fall in fourth-quarter sales, as demand for its toys and
games take a hit with inflation catching up to more American households. Investors will be
looking for the Transformers toy maker's annual forecast and its commentary on margins,
cost-cutting efforts and demand at retailers.
Bank of Canada Governor Tiff Macklem and Deputy Governor Carolyn Rogers is scheduled to appear
in the House of Commons Standing Committee on Finance.
Bank of Canada Deputy Governor Paul Beaudry is expected to speak about the importance of the
bank's 2% inflation target at the Alberta School of Business.
Cenovus Energy Inc is expected to report an increase in fourth-quarter earnings.
The IBC-Br economic activity index, a leading indicator of Brazil's gross domestic product,
likely rose 0.1% in December from the month before.
LIVECHAT-REUTERS GLOBAL MARKETS FORUM
Lori Calvasina, head of U.S. Equity Strategy at RBC Capital Markets, discusses whether the U.S.
stock market rally will continue if the Fed continues to tighten policy, as well as sectors
she's eyeing. (0900/1400) To join the conversation, click here
 (Compiled by Sandhra Mariam Sam in Bengaluru; Edited by Shilpi Majumdar)
 ((SandhraMariam.Sam@thomsonreuters.com))