What to Watch in the Day Ahead - Thursday, January 15

Goldman Sachs is expected to report a slight decline in profit when it posts its fourth-quarter results. Investors will be looking out for commentary on the M&A market heading into 2026, as well as remarks on expenses. Separately, Morgan Stanley is expected to report a higher fourth-quarter profit, as its bankers reaped higher fees amid a dealmaking boom during the quarter.

BlackRock is expected to report higher fourth-quarter profits, driven by strong inflows, according to analysts.

From the U.S. economic front, the Commerce Department is expected to report that import prices fell 0.1% month over month in November, compared with a flat reading in October, while export prices are expected to rise 0.2%, also after a flat reading in the prior month. Separately, the Labor Department is scheduled to publish its weekly initial jobless claims report for the week ending January 5. Initial claims for state unemployment benefits are likely to rise to 215,000, compared with 208,000 in the prior week. Continued claims for the week ended December 29 are expected to come in at 1.893 million, down from 1.914 million previously.

On the monetary policy front, a busy slate of Federal Reserve speakers is lined up for the day ahead. Atlanta Fed President Raphael Bostic will speak on the economic outlook before the Metro Atlanta Chamber Board of Directors meeting (0835/1335). Separately, Richmond Fed President Tom Barkin will speak at the Virginia Bankers Association/Virginia Chamber Financial Forecast (1240/1740). Federal Reserve Board Governor Michael Barr will participate in a "Stablecoins" panel at the Wharton School of the University of Pennsylvania's Conference: Future of Finance Forum (0915/1415). Lastly, Kansas City Fed President Jeffrey Schmid is expected to speak on monetary policy and the economic outlook before the Economic Club of Kansas City (1330/1830).

On the Canadian economic front, the country's housing starts likely totaled 260,000 units in December, compared with 254,100 units in the prior month. Separately, manufacturing sales in November are expected to fall 1.1% month over month, after declining 1% in October. Additionally, November's wholesale trade figures are likely to rise 0.1%, mirroring the previous month's gain.

From the Latin American front, Brazil's November retail sales data is scheduled for release, with monthly sales likely to have risen 0.3%, following a gain of 0.5% in October. On an annual basis, retail sales are expected to have climbed 0.2% after advancing 1.1% in the previous month. Separately, Mexico's gross fixed investment is expected to rise 1.5% in October, after falling 0.3% in September. Compared with the same month last year, investment is likely to have dipped 4.3%.