What to Watch in the Day Ahead - Friday, Jan 15
(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. retail sales were likely flat in December as a decline in purchases of automobiles and receipts at service stations offset gains in other categories. A Reuters survey of economists forecast retail sales stayed unchanged after increasing 0.2 percent in November. (0830/1330) The so-called core retail sales, which correspond closely with the consumer spending component of the gross domestic product, are seen rising 0.4 percent after increasing 0.5 percent in November. (0830/1330) Separately, the Producer Price Index is expected to show a 1.0 percent drop in December compared with a 1.1 percent decline in the prior month. (0830/1330) Business inventories for November (1000/1500) and manufacturing and industrial output for December (0915/1415) are among other reports slated for the day. Citigroup Inc, the third-largest U.S. bank, is expected to report a rise in fourth-quarter earnings. Citi may have felt the sting of a $300 million repositioning charge the bank has announced for the quarter as it resizes infrastructure and capacity throughout its businesses. The bank will cut at least 2,000 jobs this month, according to media reports. Some analysts also worry that Libor and foreign exchange manipulation legal costs could be higher than expected, and that Citi could take a hit from a potential slowdown in emerging markets, where the bank makes over 40 percent of its revenue. Wells Fargo & Co, the biggest U.S. residential mortgage lender, is expected to report a fourth-quarter profit above analysts' estimates due to rising loan growth. The company bought assets worth about $32 billion from GE in October. Investors will be interested in knowing about the bank's energy loan portfolio, its exposure being the largest among the big U.S. banks, in the light of falling oil prices and also what the bank expects from the portfolio in 2016. Federal Reserve Bank of San Francisco President John Williams gives opening remarks before the Bay Area Council Economic Institute 9th Annual Forecast Conference in California. (1110/1610) Later, Federal Reserve Bank of Dallas President Robert Kaplan participates in a session before the Dallas Assembly Luncheon. (1300/1800) Analysts expect BlackRock Inc, the world's largest asset manager, to post its second straight quarterly profit decline when it reports fourth-quarter earnings. Investors will examine how the company's business, which includes $4.5 trillion across index funds and more exotic investments designed for institutional investors, held up during a bloody quarter for some global investors. PayNet's Canadian small business lending index is due for November. The index rose to 140.8 in the prior month, signaling that companies in the energy-dependent economy adjusted to sharply lower oil prices. (0500/1000) Separately, the industry group for Canadian real estate agents will release existing home sales data for December. (0900/1400) LIVECHAT-THE WEEK AHEAD with Reuters markets editor Mike Dolan Join Mike Dolan as he goes through the key macroeconomic and political themes for the coming week (0600/1100) To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled by Astha Rawat in Bengaluru; Editing by Kirti Pandey)
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