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Bank of America is expected to post higher fourth-quarter profit, lifted by strong trading as market volatility prompted clients to rejig portfolios. Separately, Wells Fargo is also expected to report a higher fourth-quarter profit. Investors will watch out for management's commentary on the U.S. economy and the 2026 outlook. Furthermore, Citigroup is also expected to report a rise in fourth-quarter profit, buoyed by stronger trading and a rebound in dealmaking activity.
On the U.S. economic front, the Labor Department's Bureau of Labor Statistics will release a report on the Producer Price Index for final demand, which is projected to show a rise of 0.2% in November, mirroring a gain from the previous month. Annually, PPI is likely to increase 2.7%, a similar rise from earlier. Excluding food and energy, the PPI is seen climbing 0.2% in November; annually, it is expected to rise 2.7%. Separately, the Commerce Department's Census Bureau will release a report on retail sales for November, which are expected to grow 0.4%, following a flat reading in October. Retail sales excluding autos are also forecast to rise 0.4%, matching the previous month's gain. The same department is also set to report business inventories, likely edging up 0.2% in October, after rising by the same pace in September. The National Association of Realtors' existing home sales for December are forecast at 4.21 million units, up from 4.13 million in November. Furthermore, the Federal Reserve issues the Beige Book.
A raft of Fed speakers is scheduled for the day ahead. Philadelphia Fed President Anna Paulson will speak on the economic outlook before the Chamber of Commerce for Greater Philadelphia State of the Economy event. (0945/1445) Separately, New York Fed President John Williams is set to give opening remarks before the "An Economy That Works for All: Financial Inclusion" event. (1410/1910) Also, Atlanta Fed President Raphael Bostic will participate in a moderated discussion on the economy as part of the Atlanta Business Chronicle 2026 Economic Outlook event. (1200/1700) Meanwhile, Federal Reserve Bank of Minneapolis President Neel Kashkari is set to participate in a virtual town hall conversation hosted by the Wisconsin Bankers Association. (1200/1700) Lastly, Federal Reserve Board Governor Stephen Miran will speak on "Regulations, the Supply Side, and Monetary Policy" before the Delphi Economic Forum Lecture event. (1030/1530)
Pharmaceutical executives, bankers and investors from around the world convene in San Francisco for JPMorgan's annual healthcare conference. Bristol-Myers CFO David Elkins and CCO Adam Lenkowsky will be interviewed at the conference. Separately, also on schedule at the conference is a Reuters interview with Raymond Stevens, CEO of U.S.-based obesity drug biotech firm Structure Therapeutics. The company is developing an oral obesity pill that has shown promising results in a mid-stage trial, as drugmakers race to bring new offerings to market in the lucrative and competitive weight-loss drug space.
Consumer and retail companies and their M&A bankers, lawyers and private equity investors flock to Orlando, Florida, for the second day of the annual ICR Conference.
(Compiled by Shreya Sabharwal in Bengaluru; Edited by Sahal Muhammed)
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