What to Watch in the Day Ahead - Thursday, July 27

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26/07/2023 19:30

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On the U.S. economic front, the Commerce Department is set to report that the gross domestic
product increased at a 1.8% annualized rate last quarter, in its advance estimate of
second-quarter GDP growth. Separately, the Commerce Department is also expected to report orders
for durable goods likely rose 1.0% in June, after advancing 1.8% in the previous month.
Meanwhile, the Labor Department is expected to report the initial claims for state unemployment
benefits increased 7,000 to a seasonally adjusted 235,000 for the week ended July 22. Also, the
National Association of Realtors is expected to report that its Pending Home Sales Index, based
on signed contracts, dropped 0.5% in June.

Intel Corp is expected to report a decline in second-quarter revenue due to a sluggish PC market
recovery.

McDonald's Corp is likely to report a rise in second-quarter same-store sales, as its cheap menu
items and promotions captured demand despite sticky inflation. Investors will watch for the
company's expectations for 2023, its comments on margins, cost inflation and current demand
levels.

Mastercard Inc is scheduled to report its second-quarter results. Investors will analyze the
company's spending volumes to gauge consumers' financial health, and if fears of a downturn have
started to weigh on demand for big-ticket purchases.

Ford Motor Co will report second-quarter results, outlining what demanding and pricing for cars
looks like.

T-Mobile US Inc is expected to post a jump in wireless subscriber additions when it reports its
second-quarter results, boosted by customers choosing its plans in a competition-heavy market.

AbbVie Inc will report its second-quarter earnings. Investor focus is expected to be on the
revenue erosion of blockbuster arthritis drug Humira due to the entry of biosimilars, as well as
sales of newer drugs Skyrizi and Rinvoq.

Southwest Airlines Co is expected to report a fall in second-quarter profit on mounting cost
pressures and additional investments in infrastructure.

Bristol Myers Squibb Co is expected to report its second-quarter earnings before markets open.
Investors will focus on sales of cancer drug Revlimid, which faces competition from cheaper
version, and top-selling therapy Opdivo. Focus will also be on sales expectations for newer
products like cancer therapy Opdualag and heart disease drug Camzyos as well as comments over
drug prices.

Mondelez International Inc is set to report higher second-quarter sales as demand for its
chocolates and biscuits held steady despite price increases. Investors will look for comments on
volume disruption in Europe due to the company's pricing actions, and margin forecasts.

Harley-Davidson Inc is expected to post a decline in second-quarter profit as customer demand
for the iconic bikes continues to lose momentum. Investors will be looking for commentary on
consumer spending and forecast for the year.

U.S. railroad operator Norfolk Southern Corp is expected to report slightly lower revenue and
earnings in the second quarter, hit by lower inventory and economic headwinds pressure its
volume. Any comment on reopening of Ohio track following derailment, charges due to it, decline
in shipments would be of interest to the investors.

Royal Caribbean Cruises Ltd is expected to post a rise in second-quarter revenue, helped by
pent-up demand for cruises as consumers shift to spending more on experiences and services as
well as higher ticket prices. Investors will look for comments on demand trends, impact from
inflation and fuel prices on margins and any forecast that the cruise operator provides.

Valero Energy Corp's second-quarter profit are expected to decline compared to last year, but
the company expects to see strong demand for refined products as summer travel ramps up.

HCA healthcare Inc is expected to report its second-quarter earnings. Investors would look for
commentary on recovery in non-urgent procedures and improvement in hospital staffing, also any
changes in 2023 forecast.

DexCom Inc is set to report its second-quarter earnings after markets close. Investors will
focus on the sales of the medical device maker and any commentary regarding its full-year
forecast.

Laboratory Corp of America Holdings is set to report second-quarter results. Investors will
lookout for commentary on 2023 outlook, following the spin-off of Labcorp's drug development
unit, and performance across its diagnostics business.

Analysts expect Verisign Inc to post a 6% rise in quarterly revenue to hit a record $373.1
million in the second quarter. Investors expect to hear from the company on demand for its
internet services amid an uncertain economic environment.

Kimco Realty Corp is expected to post a rise in second-quarter revenue benefiting from strong
demand from a diverse set of retailers and higher leasing volumes. Investors will look out for
comments on higher costs, occupancy and anything related to annual forecasts.

Juniper Networks Inc is expected to report a 11.5% rise in second-quarter revenue due to higher
demand and recovering supply chains.

Chile's unemployment rate data for June is due to be released. 

LIVECHAT - REUTERS GLOBAL MARKETS FORUM
Jon Egilsson, Chairman and co-founder of Monerium, former chairman of the supervisory board of
the Icelandic Central Bank, is expected to speak on integrating traditional and decentralized
finance, the development of CBDCs and bank regulation. (0700/1100) To join the conversation,
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 (Compiled by Kumar Satyam; Editing by Shweta Agarwal)
 ((Kumar.Satyam@thomsonreuters.com;))