What to Watch in the Day Ahead - Friday, January 17

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For investors in the U.S., a Federal Reserve data release could offer insights into the manufacturing sector's performance in December. Factory output is projected to have increased at the same rate of 0.2% recorded in November. Meanwhile, industrial production could have rebounded in December with a 0.3% rise, after slipping 0.1% in the previous month. Capacity utilization likely increased to 77% last month from 76.8% in November. Separately, a report on the housing market is due from the Commerce Department's Census Bureau. Overall housing starts likely rose to a seasonally adjusted annual rate of 1.320 million units last month from 1.289 million units in November, while building permits may have fallen to 1.460 million units in December from 1.493 million units in the month prior.

The oilfield services company Schlumberger NV is slated to release fourth-quarter and full-year results. It is expected to report an uptick in profit from the year-ago period on stronger international demand for its services. Investors will watch for comments on the closing of the ChampionX deal and the outlook for the industry in 2025.

A few regional banks will also report their earnings. Fourth-quarter profit of Citizens Financial is expected to more than double thanks to strong growth in fee-based income, when it reports its earnings. Huntington Bancshares is set to post a rise in its fourth-quarter profit, helped by robust performance in its capital markets unit. Additionally, Regions Financial is expected to report a higher fourth-quarter profit, driven by higher dealmaking and debt underwriting fees.

State Street is expected to report a jump in fourth-quarter profit when it reports its quarterly earnings. A rally in equities is expected to boost the custodian bank's assets under management.

The Bank of Canada is scheduled to publish a report based on a review of its monetary policies during the COVID-19 pandemic. The central bank says that the review will examine the exceptional policy actions undertaken in response to the COVID-19 pandemic and highlight lessons that will shape the Bank's response in future crises. The Bank will also publish an assessment of the review by a panel of independent external experts as well as a response from the Bank's Governing Council.

Brazil's IGP-10 inflation index is expected to rise 0.56% in January, compared with a 1.14% gain last month.

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(Compiled by Malini K; Editing by Shreya Biswas)

((Malini.K@thomsonreuters.com;))