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ON MONDAY
Bath & Body Works is expected to post a rise in third-quarter revenue, helped by demand for its personal care products and fragrances. Investors will look out for comments on holiday expectations and forecasts, the impact of import tariff hikes and promotional activities.
Agilent is expected to report its fourth-quarter results. Investor focus will be on the performance of its medical tools and equipment used in clinical studies.
REST OF THE WEEK
Best Buy is expected to report a marginal drop in third-quarter same-store sales on Tuesday, as consumer demand for pricey electronics remains muted. Investors will watch out for comments on shoppers' response to early holiday deals as well as fourth-quarter expectations from the electronics retailer.
A data-heavy Wednesday will likely capture investor attention amid a holiday-shortened week due to Thanksgiving. The Personal Consumption Expenditures (PCE) Price Index, which is the Federal Reserve's preferred measure of inflation, is expected to have risen 2.3% on an annual basis in the previous month, following a 2.1% increase in September. On a monthly basis, the PCE price index is projected to show a 0.2% rise in October. Excluding the volatile food and energy components, the PCE price index, on a month-on-month basis, is anticipated to show a 0.3% gain. In the 12 months leading up to October, core inflation is expected to have increased by 2.8% annually, compared to a 2.7% rise in September. In a separate report, the Commerce Department's Bureau of Economic Analysis forecasts that consumer spending will have climbed by 0.3%, following a previously reported increase of 0.5% in September. Additionally, the Commerce Department's second estimate of third-quarter gross domestic product is expected to remain unchanged at 2.8%. Durable goods orders for October are likely to have risen by 0.5%, after a decline of 0.7% in September. However, core capital goods orders are set to have slowed to a 0.3% increase in the previous month, down from a 0.5% increase in September. Furthermore, initial jobless claims for the week ending Nov. 23 are anticipated to rise to 217,000, up from 213,000 the previous week. On Tuesday's economic agenda, the Conference Board's consumer confidence index for November is set to show a reading of 111.6, up from 108.7 in October. Lastly, new home sales are likely to have decreased to 725,000 units, from 738,000 units.
Macy's is expected to post a decline in third-quarter sales on Tuesday, as the department store chain battles consumers looking elsewhere for steeper discounts and as they remain picky about spending. Investors will look out for comments on holiday shopping, promotions, consumer health, cost control measures and any impact from likely tariff imposition by President-elect Donald Trump. Additionally, thousands are expected to line the streets of New York to watch giant balloons and floats at Macy's famed Thanksgiving Day Parade on Thursday.
Kohl's is expected to post a decline in third-quarter revenue on Tuesday, as consumers pull back spending in department stores, hurt by higher prices. Investors will watch out for comments on holiday demand, promotions and impact of tariffs, if any.
HP is expected to report a rise in fourth-quarter revenue on Tuesday, due to a rise in demand for artificial-intelligence powered personal computers.
Nordstrom to report rise in third-quarter sales, driven by higher demand at its discount banner, Rack, and from efforts to offer products such as Birkenstock and On shoes. Investors will look out for statements on potential sale of the company to Nordstrom family, holiday period promotions and any raises on guidance for FY24.
Abercrombie & Fitch is expected to post a rise in third-quarter revenue, helped by demand for its apparel offerings at its namesake brand and at Hollister. Investors will look out for comments on holiday season sales, forecasts and import tariff impacts.
Jif peanut butter maker J.M. Smucker is expected to post a rise in second-quarter revenue, helped by resilient demand for its packaged food products such as jams and frozen food. Investors will look out for comments on forecasts, impacts of rising coffee costs and pricing strategies.
On the Latin American front, Brazil is set to release its inflation numbers measured by the IPCA-15 index on Tuesday. On the same day, Argentina will publish its retail sales figures. Additionally, Chile is expected to report its unemployment rate and manufacturing output on Friday.
(Compiled by Archak Sengupta in Bengaluru; Edited by Shilpi Majumdar)
((Archak.Sengupta@thomsonreuters.com))
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