What to Watch in the Day Ahead - Thursday, November 9

WestRock Co

08/11/2023 19:30

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The Labor Department is expected to report initial claims for state unemployment benefits
probably rose to 218,000 in the week ending Nov. 4 from 217,000 in the previous week. Meanwhile,
continued jobless claims for the week ending Oct. 28 likely rose to 1.820 million from 1.818
million the previous week.

Federal Reserve Chair Jerome Powell participates in policy panel discussion before the 24th
Jacques Polak Annual Research Conference in Washington. (1400/1900)

Federal Reserve Bank of Atlanta President Raphael Bostic and Federal Reserve Bank of Richmond
President Thomas Barkin are scheduled to participate in a fireside chat on the importance of
surveys and how the survey data informs the economic outlook and policy views before the Central
Bank Business Survey Conference hosted by the Federal Reserve Bank of Atlanta's New Orleans
Branch. (0930/1430) Later on the day, Barkin will discuss the "Outlook for the U.S. Economy and
Fed Policy" in a Market News International webinar. (1100/1600)

Federal Reserve Bank of St. Louis Interim President Kathleen O'Neill Paese will speak on the
U.S. economy and monetary policy and participate in a moderated conversation before an event
co-sponsored by the Association for Corporate Growth Kentucky, Financial Executives
International Louisville and CFA Society Louisville. (1200/1700)

Novavax is scheduled to report its third-quarter earnings. Investor focus is expected to be on
sales and demand for the vaccine maker's updated COVID shot and cost-reduction plans.

U.S. President Joe Biden meets with United Auto Workers President Shawn Fain and touts the
decision of Chrysler-parent Stellantis to reopen shuttered assembly plant in Belvidere,
Illinois.

Tapestry is expected to post a flat first-quarter revenue growth, as demand for its Kate Spade
and Stuart Weitzman brands come under pressure amid a reduced appetite for luxury handbags.
Investors will look for comments on holiday demand, China's recovery, and the fiscal 2024
outlook.

News Corp will report first-quarter results against the backdrop of an activist investor,
Starboard Value, calling on the company to spin off its online property business.

Trade Desk is expected to report a rise in third-quarter revenue on strong demand for its
digital advertising services.

Westrock is expected to post a fall in fourth-quarter sales on softer demand for its paper and
packaging pro. Investors will be looking for comments on the $11 billion Westrock - Smurfit
Kappa business merger and the impact of higher input costs on the company's margins.

On the Latam front, the Bank of Mexico will likely keep its benchmark interest rate steady at
11.25% for the fifth straight meeting. Separately, Mexico's annual inflation for October is
expected at 4.28%, after a reading of 4.45% in the month before. October consumer prices are
expected to be at 0.39% after rising 0.44% in September. Meanwhile, producer price data for
October is also scheduled for release. Also, Peru's central bank is expected to slash its
interest rates by 25 basis points to 7% from 7.25%.

LIVECHAT – REUTERS GLOBAL MARKETS FORUM
Sam Burns, Chief Strategist of Mill Street Research, discusses the outlook for rates after the
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here 


 (Compiled by Shreya Sabharwal in Bengaluru; Editing by Tasim Zahid)
 ((Shreya.Sabharwal@thomsonreuters.com;))