What to Watch in the Day Ahead - Friday, June 19
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The Federal Reserve Bank of San Francisco President John Williams gives a policy speech before the National Bureau of Economic Research East Asian Seminar on Economics, in San Francisco, California. (1140/1540) Also, the Federal Reserve Bank of Cleveland President Loretta Mester speaks on 'Community Development and the Federal Reserve' before the Federal Reserve Banks of Cleveland and Philadelphia Policy Summit in Pittsburgh, Pennsylvania. (1245/1645)
Shareholders of Office Depot Inc, the No. 2 U.S. office supply retailer, will vote at a meeting whether or not to merge with larger rival Staples Inc. The vote will mark the latest step in the creation of a office supply megastore in the face of increasing competition from online rivals and big-box stores. The $6.3 billion deal was first announced in February.
CarMax Inc, the largest used-car seller in the United States, is scheduled to report first-quarter results. The company reported a 14 percent rise in revenue in the fourth quarter, helped by higher sales of used cars.
Software maker Mindbody Inc's shares are expected to start trading on the Nasdaq. Mindbody makes business management software for wellness and fitness boutiques and has expanded to spas and beauty salons. Customers pay a monthly fee to use the software, which serves more than 42,000 local business subscribers in 124 countries and territories. Mindbody's revenue rose about 44 percent to $70 million in 2014.
Statistics Canada will release inflation data for May. Canada's inflation is expected to have held at an annual 0.8 percent rate, sticking below the lower end of the Bank of Canada's 1 to 3 percent target range. The bank has said the drop in energy prices will temporarily weigh on inflation. The core inflation rate, which strips our volatility items and is closely watched by the central bank, is expected to have moderated to 2.1 percent. Another report is expected to show retail sales gained by 0.7 percent in April, suggesting the economy started to thaw at the beginning of the second quarter after contracting in the first three months of the year.
Brazil's consumer prices, as measured by the IPCA-15 index, is expected to have increased 0.85 percent in June against the 0.60 percent in April.
Mexico's National Statistics Office releases data on first-quarter private spending. Private spending is expected to have advanced 3.3 percent on an annualized basis, higher than during the same period a year earlier. Also, first-quarter data for aggregate demand will be released.
LIVECHAT: C-BANK FOCUS with Sean Maloney Finconomics Chief Economist and strategist Sean Maloney, a central bank expert and popular on the global market forum, will be with us to review the FOMC and BOJ decisions and how other central banks globally are placed to handle a scenario of the U.S. Federal Reserve raising interest rates. To join the conversation, click here: bit.ly/1kTxdKD (Compiled by Nivedita Balu; Editing by Savio D'Souza)
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