What to Watch in the Day Ahead - Friday, March 20
(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) Upscale jeweler Tiffany & Co's fourth-quarter profit and revenue are expected miss analysts' estimates, according to Thomson Reuters StarMine. The company cut its full-year profit forecast in January, citing weak demand during the holiday shopping season. A tax hike in Japan, a stronger dollar and fewer tourists in the United States is likely to have weighed on revenue. A Dutch court in December ordered Tiffany to pay Swatch 402 million francs in damages over a failed joint venture to make watches. Investors will be looking out for updates on the litigation and any forecast. Darden Restaurants Inc, the parent of the Olive Garden and LongHorn Steakhouse chains, is scheduled to release third-quarter results. Chicago Fed President Charles Evans speaks on a panel with Alan Greenspan at the Brookings Institute. Evans, a policy dove, is a voting member on the FOMC, and his views will come a day after the Fed moved a step closer to a rate hike but downgraded economic outlook. Also, Federal Reserve Bank of Atlanta President Dennis Lockhart speaks on monetary policy and the economic outlook before the Georgia Law Review Symposium. American International Group Inc shareholders will seek final approval of $970.5 million in settlements resolving claims the company misled investors ahead of the 2008 financial crisis. AIG has agreed to pay $960 million, while its auditors at PriceWaterhouseCoopers have agreed to pay $10.5 million. The hearing is before U.S. District Judge Laura Taylor Swain in Manhattan. Statistics Canada is scheduled to release the Consumer Prices Index for February. Inflation is expected to hold at an annualized rate of 1 percent in February. Cheaper gasoline has weighed on inflation, putting it at the lower end of the Bank of Canada's target range. Core inflation is forecast to come in firmer at 2.1 percent on a year-on-year basis. (0830/1230) Separately, retail sales are expected to have decreased by 0.7 percent in January. (0830/1230) Brazil's statistics agency IBGE is scheduled to release inflation figures. Consumer prices likely rose 7.88 percent in the 12 months to mid-March according to a median of 20 market forecasts. On a monthly comparison, consumer prices are expected to have advanced 1.21 percent from mid-February, slowing from an increase of 1.33 percent in the previous reading, according to the median forecast of 26 economists. (0800/1200) Mexico's national statistics institute will release retail sales data for January, after the monthly indicator fell 0.8 percent in December when adjusted for seasonal swings. (1000/1400) Separately, Argentina's government agency is scheduled to release Gross Domestic Product and current account figures for the fourth quarter. (1500/1900) (Compiled by Astha Rawat in Bengaluru; Editing by Simon Jennings)
© Thomson Reuters 2017 All rights reserved.