What to Watch in the Day Ahead - Wednesday, April 16

On the U.S. economic tap, retail sales are forecast to have jumped 1.3% in March, compared with a modest 0.2% rise in February. Excluding sales of automobiles, retail sales are projected to have edged up 0.3% last month, after rising at the same rate in the prior month. Meanwhile, industrial production in March is expected to show a 0.2% decline, after a rise of 0.7% in February. Capacity utilization was likely at 78% for the month of March, down from 78.2% in the previous month. Additionally, business inventories are estimated to show a 0.2% rise in February, after edging up 0.3% in January. Also due is the National Association of Home Builders/Wells Fargo Housing Market Index, which likely fell to 37 this month from 39 in March.

Investors will watch out for Federal Reserve Chair Jerome Powell’s comments at the Economic Club of Chicago, where he is scheduled to share his views on economic outlook. (1330/1730) Cleveland Fed President Beth Hammack is slated to participate in a moderated question-and-answer session at an event hosted by Columbus Metropolitan Club in Columbus, Ohio. (1200/1600) On the same day, Kansas City Fed President Jeffrey Schmid is due to speak on economy and community banking in a moderated conversation with Dallas Fed President Lorie Logan at an event hosted by the Dallas Fed and the Dallas Citizens Council. (1900/2300)

Abbott Laboratories is expected to report its first-quarter results where investor focus will be on the performance of its heart devices and continuous glucose monitors, and comments on tariffs.

Travelers, the insurance bellwether, is expected to report a loss for the first quarter and investors will be scrutinizing the impact from the LA wildfires earlier this year.

Bank of Canada is likely to pause its rate-cutting cycle in April, keeping the benchmark interest rate steady at 2.75%. If the central bank pauses on rate cuts, it will be the first time since June, after what has been the most aggressive rate reduction cycle amongst all major central banks.

In Latin America, Argentina is expected to post a trade surplus of $800 million for March, compared with a surplus of $227 million in February.

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