What to Watch in the Day Ahead - Tuesday, December 5

Reuters2023-12-04

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A slew of U.S. economic indicators will be on the tap, including the JOLTS report, the Institute for Supply Management's $(ISM)$ non-manufacturing PMI, and the S&P Global's final reading for services and composite PMIs. The jobs report is likely to show the number of job openings probably dropped to 9.3 million in October from 9.553 million in September. Additionally, the ISM non-manufacturing PMI is expected to show a reading of 52 in November after a print of 51.8 in October.

McDonald's will likely reveal details on the company's plans for growth and expansion over the next few years at its investor day. Its plans for expansion in China and other international markets, outlook on the U.S. consumer and expectations for profitability will be on top of investors' minds.

Johnson & Johnson is scheduled to hold a day-long event to discuss the company's long-term growth strategy after its recent completion of its consumer health business spin-off. CEO Joaquin Duato and CFO Joe Wolk will provide an overview of the company's business and research pipeline, and a Q&A session is also on the agenda.

Bank executives from Goldman Sachs, JPMorgan, Bank of America and other lenders will likely speak at the Goldman Sachs financial services conference.

Federal Reserve Division of Supervision and Regulation Director Michael Gibson is scheduled to testify on "Fostering Financial Innovation" before the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion in Washington D.C. (1000/1500)

A federal judge in Boston is scheduled to hear closing arguments in the U.S. Justice Department's lawsuit seeking to halt JetBlue Airways' planned $3.8 billion acquisition of ultra-low-cost carrier Spirit Airlines.

CVS Health is expected to hold its annual Investor Day in Boston. Investors will look for updates to the company's long-term growth and earnings targets.

Brazil's gross domestic product $(GDP)$ for the third quarter is expected to have contracted 0.2% in November, after expanding 0.9% the month before. On an annual basis, Latin America's biggest economy probably contracted 1.9% in the third quarter. Brazil's S&P Global Services and Composite PMI for November are also due for release.

(Compiled by Sandhra Sam in Bengaluru; Editing by Tasim Zahid)

((SandhraMariam.Sam@thomsonreuters.com;))

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