What to Watch in the Day Ahead - Thursday, Sept 24
(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) Federal Reserve Chair Janet Yellen presents the annual Philip Gamble Memorial Lecture on "Inflation Dynamics and Monetary Policy" at the University of Massachusetts Amherst's Department of Economics. (1700/2100) In a separate event, Treasury Assistant Secretary of Economic Policy Karen Dynan speaks before the National Bureau of Economic Research meeting, "Tax Policy and the Economy," in Washington. (1245/1645) The number of Americans filing new applications for unemployment benefits probably rose by 7,000 to a seasonally adjusted 271,000 for the week ended Sept. 19, after falling to an eight-week low of 264,000 the previous week. (0830/1230) Also, the Commerce Department will release the durable goods data for August. The non-defense capital goods orders excluding aircraft data, a closely watched proxy for business spending plans is expected to have decreased 0.1 percent last month. In a separate report, new single-family home sales are expected to have increased 1.6 percent in August, after a 5.4 percent jump in July. Nike Inc, the world's largest sportswear maker, is expected to report quarterly profit and sales above analysts' estimates, according to StarMine. The beat is expected to be driven by higher pricing in North America, growth in China, and strong sales at its higher-margin direct-to-consumer channel. New footwear launches in the basketball, running and sports categories are also helping in customer migration toward higher priced products, while the popularity of the "athleisure" trend is driving sales of athletic apparel. Investors will look for updates to the full-year forecast and comments on new launches and the overall footwear industry, when it announces its first-quarter results. Consulting and outsourcing company Accenture Plc is expected to have benefited from strong demand from North American clients in the fourth quarter. In June, the company raised its full-year revenue forecast for the third time, reflecting rising demand for the company's consulting and outsourcing services from firms looking to cut costs. Investors will look for details on the company's digital business which offers analytics, content management, social media and cloud services. Brazil's unemployment rate is expected to have risen for the eighth straight month in August to 7.7 percent from 7.5 percent in July. The country's consumer confidence data for September is also expected. Mexico's economy is expected to have expanded 0.4 percent in July versus the previous month. (0900/1300) The annual pace of Mexico's consumer price increases likely grew at a record slow pace in early September, which could back bets that the central bank could leave interest rates low until the U.S. Federal Reserve moves to raise borrowing costs. Economists forecast the inflation in the 12 months through mid-September to have cooled to 2.48 percent. Mexico's central bank has said it could raise rates if a deep slump in the peso spurs widespread price pressures, but so far data has shown only a limited impact from higher import prices. (0900/1300) The Argentinean government releases industrial production data for August. (Compiled By Nayyar Rasheed in Bengaluru; Edited by Don Sebastian)
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