Look ahead: US CPI; UK unemployment; Coca-Cola and TUI earnings
Investors eye US CPI data for January and UK unemployment figures, as well as the latest German ZEW Index numbers for February. On the earnings front, traders will be keeping across results from Coca-Cola, TUI and Lyft.
(AI Video Summary)
Important data expected out of US, UK and Australia
In today's "Look ahead", Angela Barnes gives us a sneak peek into economic events and earnings reports happening on Tuesday, 13 February. She begins by mentioning that Australia's consumer confidence is expected to drop slightly from 81 to 80.4. In the UK, unemployment rates are predicted to go up from 3.9% to 4%. Barnes also mentions that there is interest in a speech by Bank of England Governor, Andrew Bailey, as it might give us clues about the bank's monetary policies.
Next, Barnes talks about the decrease in price pressures in the eurozone and mentions that the European Central Bank won't be making any rate cuts until they reach their 2% inflation goal. She then informs us about Germany's ZDW indicator for economic sentiment, which is expected to increase in February. In the US, we can expect to see the consumer price index data for January, with prices estimated to rise by 3.7% compared to the previous year, and by 0.3% compared to the previous month. Core CPI is expected to be at 0.2% and 3.4%.
More big earnings reports expected
Moving on, Barnes highlights that the US dollar is currently not showing much growth in comparison to other currencies, and there is uncertainty regarding the speed of rate cuts. She mentions that Coca-Cola is expected to report stronger sales and profit growth in the fourth quarter, with analysts predicting a 10% increase in net income and a 7% growth in revenue. Airbnb is also releasing its Q4 results, with estimated earnings of 69 cents per share and revenue of $2.16 billion, showing a 13.5% increase from the previous year. Additionally, Lyft's Q4 results are expected to show a 3.6% rise in revenue compared to the previous year.
Barnes adds that Lyft's operating costs may have been impacted by the rise in oil prices. She also mentions other US companies, like AIG, Amos Budget, and Robinhood Markets, whose earnings reports are worth keeping an eye on.
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