What to Watch in the Day Ahead - Thursday, March 12

Reuters
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What to Watch in the Day Ahead - Thursday, March 12

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Adobe is expected to report first quarter results. Analysts and investors are closely watching the uncertainty facing the software industry as rapid advances in large language models reshape competitive dynamics.Discount store operator Dollar General is expected to post its fourth-quarter revenue. Investors will look out for comments on consumer sentiment, the impact of retail shrink trends, inventory levels, recent tariff developments, as well as annual forecasts.On the U.S. economic front, the Census Bureau is expected to report that housing starts likely rose to 1.348 million units in January, while building permits are expected to have increased to 1.410 million units over the same period. A separate report is expected to show that the country's international trade deficit narrowed to $66.6 billion in January, down from $70.3 billion in the prior month. Separately, the Labor Department will release its weekly jobless claims report. Initial claims for unemployment benefits probably rose by 2,000 to 215,000 for the week ending March 7. Continued jobless claims likely decreased 18,000 to 1.850 million for the week ending February 28.SoftBank's PayPay is expected to make its hotly anticipated market debut in New York.Federal Reserve Vice Chair for Supervision Michelle Bowman is scheduled to take part in a conversation on "Basel III and Bank Capital Rules" at the Cato Institute (1100/1600).The Federal Reserve is set to issue the quarterly financial accounts of the United States (1100/1600).Dick's Sporting Goods is expected to post its fourth-quarter revenue. Investors will look for comments on tariff volatility, pricing actions, consumer demand, and annual forecasts.Ulta Beauty is expected to post its fourth-quarter sales amid weak demand for beauty products, as consumers cut back on discretionary spending amid economic uncertainty. Investors will focus on the company's annual outlook, comments on current demand trends, beauty industry strength, expansion plans, and margins.In Canada, the statistics agency is expected to release January trade balance data, which is likely to show a C$0.90 billion deficit, narrowing from a C$1.21 billion deficit in the previous month. Exports and imports data for January are also due. The agency is also likely to report data for January's wholesale trade, which probably declined 0.6%, after a gain of 2% in the previous period. The country's building permits data likely declined 1.3% in January, after gaining 6.8% in the previous month.On the Latin American monitor, Brazil's inflation data for February is due. The IPCA inflation index is likely to rise 0.65%, after a gain of 0.33% in the prior month. On an annual basis, it likely increased 3.77%. Meanwhile, Argentina's national consumer price data for February is also due, and likely rose 2.7%, after increasing 2.9% in the previous month. The CPI data is also expected to show a 32.7% year on year increase, up from January's 32.4%. Additionally, Peru's central bank is expected to keep its key interest rate unchanged at 4.25%. Peru's trade balance data is also due.

(Compiled by Rahul Raj in Bengaluru; Edited by Diti Pujara)

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