What to Watch in the Day Ahead - Friday, July 19
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Federal Reserve Bank of Atlanta President Raphael Bostic is scheduled to give his closing remarks virtually at the Federal Reserve Bank of Dallas-Federal Reserve Bank of Atlanta 'Exploring Conventional Bank Funding Regimes in an Unconventional World' conference. (1300 /1700) Separately, Federal Reserve Bank of New York President John Williams is set to participate at 'The Rewiring of the Global Economy' conference organized by the Central Reserve Bank of Peru, Reinventing Bretton Woods Committee and Inter-American Development Bank. (1040 /1440)
Credit card giant American Express is expected to report higher second-quarter profit due to a massive jump in net interest income.
Fifth Third Bancorp is expected to post a jump in second-quarter profit, driven by lower operating expenses.
Huntington Bancshares will likely report a fall in second-quarter profit as its interest income takes a hit due to higher deposit costs and choppy loan demand. Analysts and investor focus is on the outlook for interest income in the second half of the year as the Federal Reserve's path on interest rate cuts continues to remain unclear.
Regions Financial is set to report a drop in profit for the second quarter, as the lender sets aside a larger chunk in rainy day funds to cover against potential loan losses.
Statistics Canada is expected to report the country's retail sales likely dropped 0.6% in May after rising 0.7% in the month before. Retail sales, excluding autos, likely fell 0.5% in May after gaining 1.8% in April. Canada's producer prices data for June is also due.
Reporting by Ananya Roy; Editing by Shreya Biswas
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