What to Watch in the Week Ahead and on Monday, November 12

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by that1celebrity

On Thursday, Walmart Inc is expected to report comparable sales growth for the third quarter, driven by an increase in customer traffic at its stores. Investors will be keen to hear what management has to stay about traffic trends and revenue outlook during the holiday season. Separately, J. C. Penney Company Inc is expected to post a drop in third-quarter same-store sales as it battles decreasing store traffic and fierce online competition. Investors will be keeping a close eye on the company’s forecast for the holiday season as many analysts view J. C. Penney as next in line to Sears, which recently filed for bankruptcy.

On Wednesday, the U.S. Labor Department will release its seasonally adjusted consumer price inflation (CPI) report for October, which is expected to show inflation likely increased 0.2 percent after rising 0.1 percent in September. Seasonally adjusted Core CPI is forecast to gaining 0.3 percent in October compared to a 0.1 percent increase in the month before.

On Tuesday, the Treasury Department’s report on federal budget is expected to show that the U.S. federal government ran a $98 billion deficit in October.

On Thursday, data on U.S. import prices for October is likely to show a 0.1 percent increase, lower than a 0.5 percent increase in the month earlier. Separately, initial claims for state unemployment benefits are forecast to have risen by 1,000 to a seasonally adjusted 215,000 for the week ended Nov. 10. The Commerce Department is expected to report on Thursday that retail sales rose 0.5 percent in October after increasing 0.1 percent in September. The Federal Reserve publishes industrial production figures, which are forecast to have climbed 0.2 percent in October after a 0.3 percent rise in September.

Cisco Systems Inc is expected to report a rise in first-quarter revenue on Wednesday, driven by growth in the network gear maker’s newer businesses such as cyber security.

On Thursday, Nvidia Corp is expected to report a rise in third-quarter revenue, as the company benefits from demand for its chips used in data centers and in gaming devices. On the same day, Applied Materials Inc is expected to report a rise in fourth-quarter revenue as chipmakers ramped up spending to meet rising demand for memory from smartphone makers.

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Home Depot Inc is set to post a drop in third-quarter same-store sales on Tuesday as signs of slowing spending on housing mount due to higher prices. The retailer is also expected to bear the brunt of already implemented and looming tariffs on Chinese imports, through higher costs and pricing pressures.

On Wednesday, Macy’s Inc is expected to post a rise in third-quarter same-store sales, benefiting from its strategies to combat declining customer traffic. Analysts will be looking out for more signs from the company about its sales turnaround as the all-important holiday shopping season looms.

Nordstrom Inc is expected to post a rise in third-quarter sales on Thursday, as more people shop from its online and off-price Nordstrom Rack stores. The retailer has been investing in improving its marketing and digital capabilities over years, making it one of the strongest digital businesses in the industry.

Federal Reserve Chairman Jerome Powell participates in a moderated question-and-answer session before the Federal Reserve Bank of Dallas Global Perspective Speaker Series, in Dallas, Texas on Wednesday. He is also expected to participate in a community listening session on Post-Hurricane Harvey Recovery Efforts in a low-to-moderate-income Houston neighborhood hosted by the Federal Reserve Bank of Dallas Houston Branch on Thursday.

On Wednesday, Federal Reserve Vice-Chair for Supervision Randal Quarles gives semiannual testimony before the House Financial Services Committee and he is also expected to give seminannual testimony before the Senate Banking Committee in Washington on Thursday.

Viacom Inc is expected to post a rise in fourth-quarter profit and revenue on Friday, boosted by the success of its movie “Mission: Impossible – Fallout”.

On Tuesday, Tyson Foods Inc is expected to report a slight rise in fourth-quarter sales, helped by improving demand for beef. However, the company, which appointed a new CEO in September, is still seeing its profits saddled with falling pork prices due to higher Chinese tariffs and rising transportation costs.

On Tuesday, Minneapolis Fed President Neel Kashkari gives welcome and introductory remarks, and moderates an audience question-and-answer session at the 2018 Regional Economics Conference hosted by the Federal Reserve Bank of Minneapolis. He will also be participating in a moderated question-and-answer session with the Minnesota AgriGrowth Council in Minneapolis on Thursday. Separately, Philadelphia Fed chief Patrick Harker participates in conversation before the Fintech and the New Financial Landscape event, in Philadelphia on Tuesday. Meanwhile, San Francisco Fed boss Mary Daly gives a lecture at Boise State University, Idaho on the same day. On Thursday, Federal Reserve Bank of Atlanta President Raphael Bostic participates in a moderated discussion, “Monetary Policy in a New Economic and Geopolitical Environment” before the Global Interdependence Center “Central Banking Series: Madrid.” Federal Reserve Bank of Chicago chief Charles Evans may update his view on where interest rates should go as he participates in a moderated question-and-answer session before the Fixed Income Forum Roundtable, in Chicago on Friday.

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Loblaw Companies Ltd is expected to post a lower adjusted third-quarter profit on Wednesday, hurt by higher labor costs and lower generic drug prices. Loblaw expects to record a C$368 million charge in the quarter, relating to a tax settlement.

Canada Goose Holdings Inc is expected to post a fall in second-quarter profit on Wednesday as the company spends more to expand its presence in China and Hong Kong. Investors will look out for comments on the company’s strategy in China.

On Friday, Canadian factory sales data is expected to show that sales were up 0.4 percent in September after falling 0.4 percent in August on lower motor vehicle sales.

Canopy Growth Corp is expected to post a wider second-quarter loss on Wednesday, as the company spends more to edge out rivals in a growing competitive market. Investors will be looking forward to any comments on how the company plans to capitalize on recreational cannabis’ legalization in Canada and emerging opportunities in the United States.

On Wednesday, Ford Motor Co will host an event in Miami with CEO Jim Hackett to highlight developments with its self-driving vehicle technologies. Separately, on the same day the automaker’s executive vice president and president, global operations, Joe Hinrichs, will speak at Barclays Global Automotive Conference in New York.

ON MONDAY Federal Reserve Bank of San Francisco President Mary Daly gives her first speech since taking the top job at the Fed’s westernmost branch in October. The remarks will be a first peek into her thinking on the economic outlook and monetary policy as she weighs the effects of further rate hikes (1430/1930).

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