What to Watch in the Day Ahead - Tuesday, January 31

Pentair

30/01/2023 19:34

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The Federal Open Market Committee is scheduled to begin its two-day meeting on interest rate
policy in Washington.
Exxon Mobil Corp is expected to report fourth-quarter and full-year earnings. The largest U.S.
oil producer is forecast to post a nearly $57 billion profit, the most in its history, according
to Refinitiv consensus data.
U.S. drugmaker Pfizer Inc will report fourth-quarter earnings before markets open. Investors
will watch out for the sales of its COVID-19 pill Paxlovid and vaccine Comirnaty during the
quarter and full-year outlook. Focus will also be on comments around expectations for COVID-19
vaccine and pill sales in 2023, and the impact of foreign exchange to its business.
McDonald's Corp is expected to report a rise in fourth-quarter comparable sales, benefiting from
higher menu prices and strong demand from consumers reeling under high inflation looking for
value-oriented meals. Investors will look out for comments about labor issues, supply chain
disruptions, impact of a strong dollar and potential slowdown in demand at key markets such as
Europe.
On the U.S. economic schedule, the Conference Board is expected to report its consumer
confidence index likely increased to 109 in January from 108.3 in December. The Labor Department
is expected to report Employment Cost Index, the broadest measure of labor costs, likely rose
1.1% in the fourth quarter, after increasing 1.2% in the quarter before. The S&P CoreLogic Case
Shiller national home price index likely fell 0.6% in November, after dropping 0.5% in October.
On an annual basis, the home price index likely rose 6.8% in November. (0900/1400)
United Parcel Service Inc is expected to report a rise in fourth-quarter revenue but profits are
expected to be in line with last year as softening e-commerce demand, coupled with rising costs,
is expected to have an impact.
Advanced Micro Devices Inc is expected to report a rise in fourth-quarter revenue, driven by
strong holiday season demand for its chips used in gaming devices.
U.S. President Joe Biden is scheduled to travel to New York to discuss Bipartisan Infrastructure
Law funding for Hudson River Tunnel project.
Boeing Co employees and executives are expected to attend the delivery of the final 747 jet at
their plant in Everett, Washington.
General Motors Co is expected to report strong profit for 2022, powered by premium-priced pickup
trucks and sports utility vehicles.
Mondelez International Inc is expected to post a jump in fourth-quarter revenue, boosted by
strong demand for its biscuits and chocolates across developed and emerging markets, as well as
higher prices. Investors will be watching out for the company's forecast and its comments on
foreign exchange pressures and current demand trends amid threats of a recession.
Electronic Arts Inc is expected to report a fall in third-quarter revenue as the "FIFA"
publisher struggles with rising dollar and to keep gamers hooked following a pandemic slowdown.
Snapchat-parent Snap Inc is expected to report its slowest fourth-quarter revenue growth since
going public, hurt by rising competition from Meta Platforms Inc's Instagram in an already
challenging ad market.
Trial on Tesla Inc shareholders' claims against the company, several of its directors and Elon
Musk is expected to resume. Investors allege in the lawsuit that Musk lied when he tweeted in
2018 that he had funding to take the electric carmaker private.
Homebuilder PulteGroup Inc is expected to post a rise in its fourth-quarter profit and sales,
helped by higher prices.
Pentair Plc, that provides water treatment solutions to industries, is expected to report a fall
in fourth-quarter profit amid an ongoing industry-wide consolidation on the back of mounting
economic worries.
Statistics Canada is expected to report the country's economy likely expanded 0.1% in November,
the same level it grew in the month before.
Canadian oil producer Imperial Oil Ltd is expected to report higher fourth-quarter profit
compared with last year, helped by better refining margins and higher energy prices amid tight
global supplies. Investors will look for commentary around production and refining margins.
Mexico's national statistics agency in its flash estimate is expected to report the economy grew
0.3% in the fourth quarter, after expanding 0.9% in the third quarter. Chile's manufacturing
output data for December is due for release.
LIVECHAT - REUTERS GLOBAL MARKETS FORUM
Oscar Munoz, U.S. macro strategist at TD Securities, discusses the outlook for the U.S. economy
and what's likely from the Federal Reserve's meeting. (1030/1530) To join the discussion, click
here
 (Compiled by Nidhi C Sai in Bengaluru; Edited by Shilpi Majumdar)
 ((Nidhi.CSai@thomsonreuters.com))