April 16, 2015 / 6:34 PM / 3 years ago

What to Watch in the Day Ahead - Friday, April 17

(The Day Ahead is an email and PDF publication that includes the day's major stories and
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General Electric Co, fresh off its big announcement to shed most of its finance assets, reports
first-quarter earnings. Wall Street is keen to see the fallout from the drop in oil prices on
the conglomerate's oil and gas equipment business that made up 17 percent of GE's industrial
revenue last year. Investors will also want to gauge GE's progress on cost cutting efforts to
improve its profit margins and the impact of the strong dollar on its operations.
Honeywell International Inc, a diversified manufacturer of sensors, safety systems and
airconditioning equipment, is expected to report higher first-quarter profit as the
strengthening economy pushes up the company's sales. Investors will be looking for the impact of
the strengthening dollar and if an increase in aviation sales is offset by discounts given to
plane makers as was the case in the fourth quarter.
U.S. consumer prices are expected to have increased modestly last month, likely pushing the U.S.
Department of Labor's Consumer Price Index up 0.3 percent. Retail gas prices, that went up in
early February, likely impacted prices. The core index, which excludes food and energy, is also
expected to have advanced. (0830/1230) A separate report is expected to show U.S. consumers
feeling more upbeat about their finances and the economy in the first half of April. (1000/1400)
Meanwhile, the Conference Board issues leading indicators for March. (1000/1400)
Canada's inflation rate is expected to have held at 1 percent on an annual basis in March,
leaving it at the lower end of the Bank of Canada's target rate. Core inflation, which strips
out gasoline and other volatile items, is also expected to be unchanged from the previous month
at 2.1 percent. (0830/1230)
Canadian retail sales are forecast to have risen by 0.5 percent in February, recovering some of
the sharp and unexpected drop seen in January. Lower prices at the gasoline pump have been
weighing on sales, though sales declined in volume terms as well in January and analysts will be
looking to see if that weakness continued in the first quarter. (1830/1230)
The Federal Communications Commission plans to vote on a report and order that would, for the
first time, set a system to allow for the commercial use of airwaves in the 3.5 gigahertz band.
The band can be used similarly to wi-fi and could be valuable for small cells and to alleviate
congestion. The airwaves have been eyed by Google and other companies for their ability to carry
large amounts of data for short distances. The system, known as the Citizens Broadband Radio
Service, has been in the works since 2012 and is expected to allow the FCC to sporadically
auction off short-term licenses for exclusive use of the spectrum, while also protecting
incumbent government users such as radar and satellite operations.
The three-day spring meetings of International Monetary Fund and World Bank are expected to
focus on an improvement in the Eurozone and still-strong U.S. economic growth, although risks of
a Fed rate hike and a strong dollar have added to global growth concerns, especially in emerging
markets and most importantly in China. China has barged its way to the top of the table in terms
of challenging the hegemony of the Washington-based institutions by establishing its own Asia
investment bank. Europe and most of the rest of the world has signed up, lured by the prospect
of Chinese capital and in recognition of Beijing's growing global clout while the U.S. has sat
on the sidelines. Greece and Ukraine remain major concerns in terms of an immediate crisis.
LIVE CHAT - Sports: It's April, too early to panic about your baseball team? 
If this is the cruelest month, it may be because it is so full of hope for baseball fans. Sports
editor Larry Fine talks all things Major League Baseball in the Global Markets Forum.
(1100/1500) To join the Forum, click here: bit.ly/1kTxdKD
Brazil's statistics agency IBGE releases the inflation rate for the month to mid-April. Monthly
inflation is expected to gradually ease after a steep increase in the first quarter. (0800/1200)
Separately, Argentina is due to release March consumer inflation data.

 (Compiled by Sourav Bose in Bengaluru; Editing by Savio D'Souza)
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