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

Sonos

25/05/2023 19:31

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On the U.S. economic tap, the Commerce Department is expected to release personal consumption
expenditures (PCE) price index figures for April. Excluding the volatile food and energy
components, the PCE price index is likely to rise 0.3%, matching the gain in March. The
so-called core PCE price index was likely unchanged at 4.6% on a year-on-year basis in April.
Consumer spending likely rose 0.4% in April, after remaining flat in March. Personal income
likely climbed 0.4% in April, after rising 0.3% in the month before. Separately, the University
of Michigan's final May reading of consumer sentiment is expected to come in at 57.7. In a
separate report, the Commerce Department is likely to report orders for durable goods have
dipped 1% in April. 
    
After a week off, a San Francisco federal jury will continue to deliberate in Sonos Inc's case
against Google for allegedly copying patented smart-speaker technology in wireless audio devices
like Google Home and Chromecast Audio. Sonos had asked the court for $90 million in damages from
Google. The case is part of a sprawling intellectual property dispute between the former
business partners that includes other lawsuits in the United States, Canada, France, Germany and
the Netherlands.
    
Oral arguments are scheduled on various issues in three lawsuits over JPMorgan Chase & Co's ties
to the late financier and former client Jeffrey Epstein. The bank faces a proposed class action
by women who claim to have been abused by Epstein, and a lawsuit by the U.S. Virgin Islands.
    
Canada's finance ministry is expected to report Canada's budget balance, measured in Canadian
dollars for March. 
    
Mexico's national statistics agency INEGI is expected to report the final reading of GDP data
for the first quarter. The country's economic activity, as measured by IGAE index, is also due.

 (Compiled by Archak Sengupta in Bengaluru; Edited by Shilpi Majumdar)
 ((Archak.Sengupta@thomsonreuters.com;))