What to Watch in the Day Ahead - Thursday, November 21

NetApp

20/11/2024 19:29

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Deere is expected to report a sharp fall in its fourth-quarter profit when it
reports results. Investors will be looking for commentary on farm equipment
demand and dealer inventories.

The Labor Department's Bureau of Labor Statistics will report initial claims for
state unemployment benefits for the week ended Nov. 16 probably climbed to
220,000 from 217,000 in the previous week. The number of people receiving
benefits after an initial week of aid, or continuing claims, likely remained
unchanged at 1.873 million during the week ending Nov. 2.

Gap is expected to post a rise in third-quarter revenue as turnaround efforts
help drive full-price demand for its Old Navy and namesake brands. Investors
will watch out for comments on holiday quarter expectations as discretionary
spending remains choppy in the United States.

Federal Reserve Bank of Cleveland President Beth Hammack will give welcome
remarks and participate in a conversation before the 2024 Financial Stability
Conference: Emerging Risks in a Time of Interconnectedness and Innovation,
hosted by the Cleveland Fed and the Office of Financial Research. (0845/1345 &
1230/1730) Federal Reserve Bank of Chicago President Austan Goolsbee is
scheduled to participate in a moderated question-and-answer session before the
Central Indiana Corporate Partnership in Indianapolis. (1225/1725) Federal
Reserve Vice Chair for Supervision Michael Barr will participate in a discussion
about "Banks and Artificial Intelligence" before the 2024 FinRegLab AI Symposium
in Washington. (1640/2140) 

Analysts expect Baidu to report a fall in revenue in the September quarter, hurt
by macroeconomic pressures on its advertising business. Analysts are also
looking for commentary on how it expects to recover.

Statistics Canada will release October producer prices data for the month of
October.  

TurboTax parent Intuit is expected to report higher first-quarter revenue,
helped by steady demand for its financial management tools.

Ross Stores is expected to post a rise in third-quarter revenue, as the
off-price retailer benefits from steady demand for discretionary goods from
budget-conscious consumers. Investors will watch out for comments on consumer
sentiment and the company's expectations for the holiday quarter.

NetApp is expected to report a rise in second-quarter revenue helped by robust
demand for its cloud services, as more companies look to streamline vast amounts
of data and gain insights.

Mexico's September retail sales data is scheduled for release. 


 (Compiled by Nachiket Tekawade in Bengaluru; Editing by Tasim Zahid)
 ((Nachiket.Tekawade@thomsonreuters.com;))