What to Watch in the Day Ahead - Friday, Oct 23
(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) Procter & Gamble Co's first-quarter revenue is expected to fall short of analysts average estimate, according to StarMine data. In the middle of a turnaround to focus on fewer brands in a highly competitive industry, P&G's problems are compounded by a stronger dollar as it gets two-thirds of its revenue from outside the United States. Investors will be looking for plans to mitigate the currency impact and address falling sales across most of its businesses. American Airlines Group Inc reports third-quarter results amid a steep decline in unit revenue. In addition to a strong dollar which has hurt its foreign sales, American also faces competition from budget airlines at its Dallas hub, where capacity is outpacing demand. Rival Delta Air Lines Inc has promised to put brakes on its expansion of flight capacity in 2016, and investors are wondering if American will follow suit. Financial data firm Markit will release its preliminary Manufacturing Purchasing Managers' Index, which is expected to decline to 52.8 in October from 53.1 in September. (0945/1345) Thomson Reuters Corp reports third-quarter earnings. Investors will be interested to see if the news and information company can sustain both overall revenue growth and maintain an upward trend at its Finance and Risk division, which posted organic growth last quarter for the first time since 2011. Royal Caribbean Cruises Ltd's third-quarter profit and sales are expected to come in above analysts average estimate, according to StarMine data, helped by strong bookings. Investors will be looking to see if the cruise operator makes any announcements on new ventures, especially in China, after rival Carnival Corp announced a new joint venture there. The world's biggest maker of auto safety products, Autoliv Inc reports third-quarter results. Investors' main focus will be on the fourth-quarter and full-year forecasts, but they will also be interested in any comments on China, where the company has been hit by a decline in light vehicle production over the past few quarters. Lear Corp is expected to report a rise in third-quarter revenue and profit, helped by strong U.S. auto sales. However, the auto parts maker's revenue could still miss analysts average estimate, according to StarMine data, due to slowing economic growth in China, which will make investors focus closely on the company's forecast for the world's largest automotive market. Canada's annual inflation rate is expected to have cooled to 1.1 percent in September, staying at the lower end of the Bank of Canada's target range. Core inflation, which strips out volatile items and is closely watched by the central bank, is seen holding at a more robust 2.1 percent. (0830/1230) Brazil's current account deficit is predicted to have shrunk slightly to $2.3 billion in September, from a gap of $2.487 billion in August. The country is also expected to have attracted $4.5 billion in foreign direct investment last month. (0830/1230) Meanwhile, Mexico's unadjusted unemployment rate is expected to have dropped slightly in September, to 4.65 percent from 4.68 percent in August. (0900/1300) LIVECHAT - FX Markets with Simon Derrick, chief currency strategist, Bank of New York-Mellon Simon Derrick, chief currency strategist, Bank of New York-Mellon drops by the Global Markets Forum at 0500/0900 to share his views on the FX market, where taking positions has been made tricky by the uncertainty of when the Federal reserve might start to raise rates. To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled by Nayyar Rasheed in Bengaluru; Editing by Savio D'Souza)
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