What to Watch in The Day Ahead; Friday, May 23

Thu May 22, 2014 2:26pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) U.S. new home sales likely rebounded in April from March's eight-month low. The Commerce Department is expected to report that new single family home sales rose to a 425,000-unit pace last month from 384,000 units in March. (1000/1400) Parsley Energy's initial public offering is expected to raise about $655.2 million, valuing the company at up to $1.4 billion at the upper end of its expected price range of $15-$18 per share. The Texas-based company, which is backed by NGP X US Holdings LP and Diamond K Interests LP, said it would use the proceeds from the offering to reduce debt. Statistics Canada is scheduled to release inflation data for April. The annualized inflation rate is expected to pick up to 2 percent in April, while the less volatile core measure is expected to edge up to 1.4 percent. Analysts will be evaluating the report for what it might mean for monetary policy as the Bank of Canada has been concerned about weak inflation. (0830/1230) Mexico's economy is expected to have picked up speed in the first quarter, helped by factory output and construction even as domestic demand remains depressed after a slowdown. Data is expected to show that the economy grew 0.46 percent in the first quarter compared to the last quarter of 2013, when it grew 0.20 percent. At an annual pace, the economy is seen expanding 2 percent compared to the first quarter of 2013. After the data's release, the government is expected to cut its 3.9 percent growth outlook for 2014 as the economy was weaker than expected early this year. (0900/1300) (Compiled By Ayesha Sruti Ahmed in Bangalore)