What to Watch in the Day Ahead - Thursday, January 22

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Reuters Global Markets Forum goes live to the World Economic Forum Annual Meeting 2026 in Davos. As the Trump administration moves into its second year, GMF hosts financiers, business leaders and policymakers to debate the priorities and challenges shaping global markets and finance, amid uncertainties and a fragile geopolitical environment. On Thursday, Julie Teigland, Global Vice Chair at EY, joins at 1100 ET/1600 GMT. Register here to join GMF

On the U.S. economic front, the Commerce Department's Bureau of Economic Analysis is expected to report that consumer spending rose 0.5% in November, accelerating from a 0.4% increase in October. The personal consumption expenditures (PCE) price index is forecast to have climbed 0.2% in November, easing from a 0.3% rise a month earlier. On a year-on-year basis, PCE price index is likely to have risen 2.7%, slightly lower than October's 2.8%. Core PCE inflation is expected to rise 0.2% on the month, matching October's gain, while the annual core reading is seen at 2.8%. Meanwhile, the U.S. Labor Department is expected to publish its weekly initial jobless claims report for the week ended January 17 and continuing claims for the week ended January 10. Initial claims for state unemployment benefits are expected to rise to 210,000, compared with 198,000 in the prior week. Continued claims are forecast to come at 1.90 million, up from 1.88 million previously. Separately, final reading of the GDP is expected to show U.S. economic growth running at a robust 4.3% annualized pace in the third quarter.

Procter & Gamble is expected to post a rise in second-quarter revenue, helped by strong demand for its beauty and haircare products. Investors will watch out for comments on consumer environment and the company's plan on tariffs, and keenly watch the consumer goods bellwether on its margin outlook for the year.

Intel will report results for its fiscal fourth quarter as investors watch closely for the impact of a global memory chips shortage on its financials, while they gauge the chipmaker's progress amid an ambitious turnaround plan.

GE Aerospace reports fourth-quarter earnings with investors focused less on headline results and more on the strength of its commercial aftermarket business. Key watch points include shop-visit volumes, pricing power, and cash generation as airlines keep older aircraft flying longer amid delivery delays. Markets will also listen for updates on supply-chain constraints, engine inspections and durability issues, and guidance for 2026.

Medical device maker Abbott is expected to report its fourth-quarter results. Investor focus will be on the performance of its continuous glucose monitors, heart devices and any China weakness for its diagnostic segment.

Hot sauce maker McCormick is expected to post a rise in fourth-quarter revenue, helped by improving demand for its spices and seasonings. Investors will look out for comments on demand, pricing actions, promotional activity and annual forecasts.

Freeport-McMoRan, the world's largest publicly traded copper producer, is expected to report an increase in quarterly profit due to rising prices for the red metal used widely across the tech sector.

BitGo will list its shares on the New York Stock Exchange, marking 2026's first U.S. crypto IPO.

The House Energy and Commerce Committee's Subcommittee on Health will hold a hearing examining health insurance affordability and healthcare costs in America. The hearing will feature CEOs from major health insurance companies including UnitedHealth and CVS to discuss factors affecting healthcare costs, including government regulations, administrative burdens, and market competition.

Huntington Bancshares is expected to report a jump in fourth-quarter profit, helped by a surge in interest income.

Capital One Financial is expected to report a higher fourth-quarter profit, as the consumer lender is set to benefit from strong income from interest on its credit card debt.

On the Latin American front, Argentina is set to release retail sales data, while Mexico will publish first-half January inflation figures.

(Compiled by Samarendra Sahoo in Bengaluru; Editing by Shailesh Kuber)