What to Watch in the Week Ahead and on Monday, March 13

RB Global

10/03/2023 19:33

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ON MONDAY
A Brooklyn federal jury is expected to deliberate in a corruption case against two former 21st
Century Fox executives accused of bribing South American soccer officials to obtain lucrative
broadcast rights.

Oral arguments are scheduled in lawsuits by two unnamed women, each known as Jane Doe 1, seeking
damages from JPMorgan Chase & Co and Deutsche Bank AG for allegedly aiding in Jeffrey Epstein's
sex trafficking.

Mexican industrial output is scheduled for release.
    
    
REST OF THE WEEK

On the U.S. economic calendar, the Labor Department on Tuesday is expected to report consumer
price index (CPI) likely rose 0.4% last month, after gaining 0.5% in January. Excluding the
volatile food and energy components, the CPI is likely to remain unchanged at 0.4% last month.
Meanwhile, a report is likely to show that the producer price index (PPI) for final demand
likely increased 0.3% in February, on Wednesday. Also, the Commerce Department is expected to
report retail sales likely fell 0.3% in February, after rising 3% in the month before. The
National Association of Home Builders on Wednesday is expected to report that its NAHB/Wells
Fargo Housing Market index likely remained unmoved at 42 points in March. On Thursday, the
Commerce Department is expected to report housing starts likely rose to 1.310 million units in
February from 1.309 million in the month before. The reading for building permits is likely come
have come in at 1.328 million units in February. On the same day, the Labor Department is
expected to report initial claims for state unemployment benefits for the week ended March 11.
Separately, import prices for February is expected to have decreased 0.2%. On Friday, the
overall industrial production is expected to rise 0.4% in February. Also, the University of
Michigan's preliminary reading on the overall index of consumer sentiment for March is expected
to come in at 67.0. 
    
Federal Reserve Board Governor Michelle Bowman, on Tuesday, is scheduled to speak on "The
Innovation Imperative: Modernizing the U.S. Banking System" before the Independent Community
Bankers Association's ICBA Live 2023, in Honolulu, Hawaii.  
    
FedEx Corp is expected to post a drop in its third-quarter revenue, amid a global shipping
industry downturn on Thursday. 
    
Office of Management and Budget Director Shalanda Young is scheduled to testify before Senate
Budget Committee on President Joe Biden's proposed spending plan on Wednesday.
    
Caterpillar CEO Jim Umpleby is expected to participate in a fireside chat, hosted by Jerry
Revich from Goldman Sachs, on Tuesday.
    
Shareholders are expected to meet on Tuesday to decide the fate of Ritchie Bros Auctioneers
planned acquisition of IAA Inc. 
    
Officials from American Airlines and Southwest Airlines are scheduled to present at the J.P.
Morgan Industrials Conference on Tuesday.
    
Bain Capital Co-Managing Partner John Connaughton is scheduled to speak at a Reuters Newsmaker
event on Wednesday.
    
Baidu Inc is expected to hold a press conference about its highly-anticipated, ChatGPT-like
product ERNIE bot on Thursday. 
    
On Friday, Theranos founder Elizabeth Holmes is expected to ask a U.S. judge at a hearing to
pause her prison sentence of more than 11 years while she urges an appeals court to review her
conviction on charges of defrauding investors in the blood testing startup.
    
Canadian factory sales, on Tuesday, are expected to rise 3.9% in January, after falling 1.5% in
December. Meanwhile, housing starts are scheduled on Wednesday. Separately, wholesale trade data
is expected on Thursday, while producer prices are expected to be out on Friday.
    
Argentina, on Tuesday, is expected to report its Consumer Price Index data, while Brazil is
scheduled to report its inflation numbers on Thursday. 


 (Compiled by Jerin Tom Joshy in Bengaluru; Edited by Shilpi Majumdar)
 ((Jerin.Joshy@thomsonreuters.com;))