What to Watch in the Day Ahead - Friday, April 26

Roper Technologies

25/04/2024 19:33

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A report from the Commerce Department's Bureau of Economic Analysis is likely to show the
personal consumption expenditures (PCE) price index likely rose 0.3% in March after a similar
rise in the previous month. In the 12 months through March, PCE likely increased 2.6% after
advancing 2.5% in February. Excluding the volatile food and energy components, the PCE price
index is expected to rise 0.3% in March, following a similar rise in the month before. The
so-called core PCE is expected to gain 2.7% on a year-on-year basis. Meanwhile, consumer
spending is expected to have eased with a rise of 0.6% in March after jumping 0.8% in the
previous month. Personal income likely grew 0.5% in March, following a 0.3% gain in the previous
month. Separately, the University of Michigan's final reading on the overall index of consumer
sentiment likely came in at 77.9 in April, unchanged from the previous month.

Oil major Exxon is expected to report first-quarter earnings per share of $2.16 compared with
$2.79 a year ago on weaker natural gas prices, higher maintenance costs and derivatives,
according to data from financial firm LSEG. 

Chevron is expected to report lower first-quarter profits than last year due to weaker oil and
gas prices and lower production. Investors will look for a full-year outlook and an update on
Hess's acquisition.

Also, AbbVie is scheduled to report its first-quarter earnings. Investor focus is expected to be
on the erosion of Humira sales and the growth of its newer immunology drugs, Skyrizi and Rinvoq.

Colgate-Palmolive is expected to post a rise in first-quarter revenue, helped by steady demand
for its products including oral care and pet nutrition. Investors will look for comments on
pricing actions, demand, impact of increasing competition and annual forecasts.

HCA Healthcare is set to report its first-quarter results before markets open. The focus will be
on changes to its annual forecast and comments by the largest U.S. for-profit hospital operator
on patient admissions and demand for medical procedures.

Phillips 66 is likely to post a profit decline due to weaker margins; however, tight supplies
could boost its margins. Investors will look for any commentary on demand and refining
operations.

Charter Communications is expected to post a rise in revenue in the first quarter as it sees
steady subscriber growth from its rural expansion plans.

Aon will report higher first-quarter results, helped by the company's growing reliance on its
reinsurance products and services.

Asset manager T Rowe Price is scheduled to report its first-quarter earnings. Thanks to a
rebound in markets, analysts expect its profit to grow.

Software firm Roper Technologies is expected to report a rise in first-quarter revenue helped by
strong IT spending by clients.

In Latin America, Brazil's IPCA-15 consumer price index for the first half of April likely rose
0.29%, following a 0.36% gain in the previous period. Annually, the index probably increased
3.86%. Separately, Mexico's national statistics agency is likely to show a surplus in trade at
$700 million for the month of March, after posting a deficit of $585 million in the previous
month. Meanwhile, Mexico's headline unadjusted unemployment rate is expected at 2.4% in March.

 (Compiled by Shreya Sabharwal in Bengaluru; Editing by Ravi Prakash Kumar)
 ((Shreya.Sabharwal@thomsonreuters.com;))