Walmart: Investors will be keen to learn how the world’s largest retailer has managed profits in its most recent quarter amid sticky inflation, with sales expected to have risen 4.5 per cent from a year ago. Walmart’s results will also shed light on consumer sentiment after Target and Home Depot this week reported discretionary spending remained soft.
Economic data: New applications for unemployment aid are forecast to have increased to 220,000 in the week ended November 11, compared with 217,000 claims a week prior. Separately, US homebuilder confidence is expected to remain flat with a reading of 40 in November, as high mortgage rates slow demand for new homes.
Mexico: Mexico’s President Andrés Manuel López Obrador meets Chinese counterpart Xi Jinping in San Francisco. López Obrador is expected to discuss the fentanyl crisis as the US begins targeting distributors and manufacturers of the deadly drug. He is also expected to meet Canadian prime minister Justin Trudeau.
Fedspeak: Vice chair of supervision Michael Barr will deliver remarks at the 2023 US Treasury Market Conference. Christopher Waller, a member of the Federal Reserve’s board of governors, will participate in a discussion about central bank digital currency.