What to Watch in the Day Ahead - Wednesday, February 24

Paramount Global

23/02/2021 19:30

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Chip designer Nvidia Corp is expected to post a rise in fourth-quarter revenue driven by strong
demand for its graphic chips used in gaming devices and data centers. Investors will look out
for commentary on regulatory concerns around the company's $40-billion buyout deal for UK-based
Arm.

Like larger rival Home Depot, Lowe's Cos Inc is expected to report a rise in fourth-quarter
sales, but investors will be more interested in the company's forecast after it predicted a
slowdown in the 2021 home improvement market in December.

The Commerce Department is scheduled to release data showing new home sales likely jumped to
855,000 units in January following an increase of 1.6%, or 842,000 units, in the previous month.
The Department will also release revised numbers for building permits issued in January.

ViacomCBS Inc is expected to post a rise in fourth-quarter revenue as it attracts more paid
subscribers for its streaming services, CBS All Access and Showtime, while demand for indoor
entertainment remains strong.

Federal Reserve Chairman Jerome Powell is scheduled to testify on the Semi-annual Monetary
Report to Congress before a virtual hearing of the House Financial Services Committee.
(1000/1500) Separately, Federal Reserve Board Governor Lael Brainard will give a lecture, "The
Federal Reserve's Maximum Employment Mandate" before a remote event hosted by Harvard University
Principles of Economics class. (1030/1530) In another event, Federal Reserve Vice Chair Richard
Clarida is scheduled to speak on "U.S. Economic Outlook and Monetary Policy" before a remote
U.S. Chamber of Commerce Chief Economist Committee Meeting. (1300/1800) Separately, Clarida is
scheduled to speak on "U.S. Economic Outlook and Monetary Policy" before a remote American
Chamber of Commerce in Australia "Live from America" Webinar. (1600/2100) 

Off-price retailer TJX Cos Inc is expected to post a drop in fourth-quarter profit, hurt by weak
demand for non-essential items during the COVID-19 pandemic. Investors will look out for
comments on the current levels of demand and the impact of stimulus checks on its sales.

Mexico's national statistics agency INEGI is scheduled to release the seasonally adjusted
jobless rate for January on Wednesday. It slipped 4.4% in December. (0600/1100) The agency will
also release inflation data showing inflation for the first half of February likely rose 0.27%
following a 0.51 increase in the previous period. Annual inflation for the first half of
February likely rose 3.88% following a 3.33% increase in the previous period. Core inflation and
annual core inflation likely rose 0.25% and 3.88% till the first half of February, respectively,
following increases of 0.24% and 3.83% in the previous period. (0700/1200) Retail sales and
annual retail sales data for December are also expected on the day. While retail sales rose 3.3%
in November, annual retail sales fell 4.4%. (0700/1200)

Brazil's national statistics agency IBGE is scheduled to release the country's IPCA-15 consumer
price index (CPI) likely showing an increase of 0.46% in the month to mid-February following a
0.78% increase in the previous period. Annual CPI likely rose 4.55% in the month to mid-February
following a 4.30% increase in the previous period. The Getulio Vargas Foundation (FGV) is
scheduled to release its consumer confidence index for February, which had a reading of 75.8 in
the previous month. Central Bank figures are likely to show foreign direct investments likely
jumped to $2.80 billion in January following investments of 739 million in the previous period.
In another report, the bank is likely to show current account deficit widened to $7.50 billion
in January following a deficit of $5.40 in the previous period.


LIVECHAT-GLOBAL MARKETS FORUM
Jharonne Martis, Director of Consumer Research at Refinitiv, recaps key retail earnings and the
outlook for the sector going forward. (1030/1530) To join the conversation, click here https://www.refinitiv.com/en/products/refinitiv-messenger/editorial-communities-financial-forums
    

 (Compiled by Pranay Prakash in Bengaluru; Editing by Amy Caren Daniel)
 ((Pranay.Prakash@thomsonreuters.com;))