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The earnings calendar is once more sparse this week, throughout a quiet interval between earnings seasons. The handful of main firms reporting embody
Adobe
and
GameStop
on Tuesday,
General Mills
on Wednesday, and
Darden Restaurants
on Thursday. Unilever and
Honeywell
International will host investor occasions on Monday and Thursday, respectively. And shareholders of
Huntington Bancshares
and
TCF Financial
will vote on the businesses’ proposed merger on Thursday.
Economic knowledge out this week contains the Census Bureau’s February sturdy items report—seen as a good proxy for enterprise funding—and
IHS Markit’s
Manufacturing and Services Purchasing Managers’ indexes for March, all on Wednesday. On Friday, the Bureau of Economic Analysis will report private earnings and spending knowledge for February. The Federal Reserve’s most popular measure of inflation, the Personal Consumption Expenditures Price Index for February, can even be out on Friday.
Other releases embody the National Association of Realtors’ existing-home gross sales knowledge for February on Monday and the Census Bureau’s new single-family residence gross sales for February on Tuesday. Finally on Thursday, the Bureau of Economic Analysis’ third and remaining estimate for fourth-quarter 2020 GDP is predicted to be unchanged from its second estimate in late February, at a 4.1% annualized price of progress.
Monday 3/22
The National Association of Realtors studies existing-home gross sales for February. Consensus estimate is for a seasonally adjusted annual price of 6.55 million houses bought, barely decrease than the January knowledge. The median existing-home gross sales worth was $303,900 in January, up 14.1% 12 months over 12 months, as housing stock hit a document low.
The Federal Reserve Bank of Chicago releases its National Activity index for February. Economists forecast a 0.68 studying, about even with January’s 0.66. A optimistic studying signifies that the economic system is rising sooner than historic developments.
Unilever hosts an investor presentation to focus on its U.S. operations.
Tuesday 3/23
Adobe, IHS Markit, and GameStop report quarterly outcomes.
The Census Bureau studies new single-family residence gross sales for February. Expectations are for a seasonally adjusted annual price of 900,000 houses bought, barely decrease than the January determine. New-home gross sales are simply off their post-financial-crisis peak set final July.
Wednesday 3/24
General Mills releases fiscal third-quarter earnings.
The Census Bureau releases the sturdy items report for February. The consensus name is for new orders of manufactured sturdy items to rise 0.5% month over month to $258 billion. Excluding transportation, new orders are additionally seen gaining 0.5%. This compares with will increase of three.4% and 1.3%, respectively, in January.
IHS Markit releases each its Manufacturing and Services Purchasing Managers’ indexes for March. Economists forecast a 58.eight studying for the Manufacturing PMI and a 59.eight studying for the Services PMI, each comparable to the February knowledge. Last month, the composite studying for each PMIs hit a six-year excessive.
Thursday 3/25
The Bureau of Economic Analysis studies its third and remaining estimate for fourth-quarter 2020 GDP. Economists forecast a 4.1% annual price of progress, unchanged from the BEA’s second estimate, launched in late February.
Honeywell International hosts a webcast to focus on its sustainability initiatives.
Huntington Bancshares and TCF Financial maintain particular shareholder conferences to search approval for their $6 billion merger, first introduced in December. The mixed firm could be one of many 10 largest regional banks within the U.S.
Friday 3/26
The Bureau of Economic Analysis studies private earnings and spending knowledge for February. Income is projected to decline 7.5% month over month, in contrast with a 10% bounce in January. Spending is predicted to be flat, after rising 2.4% beforehand. The Personal Consumption Expenditures Price Index, the Federal Reserve’s favored inflation gauge, is seen rising 1.5% 12 months over 12 months, matching the January knowledge.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
