Register for Digital Look

Tuesday preview: US retail sales, Reserve Bank of Australia in focus

By Alexander Bueso

Date: Monday 17 Jun 2024

Tuesday preview: US retail sales, Reserve Bank of Australia in focus

(Sharecast News) - The market spotlight on Tuesday will be on US industrial production and retail sales figures for the month of May.
Those two reports will help investors ascertain how the American economy is holding up as the second quarter winds up.

Investors will also be keeping an eye on scheduled appearances from at least three top Federal Reserve officials.

In Germany meanwhile, the ZEW institute will publish the results of its economic confidence survey covering the month of June.

Overnight, rate-setters Down Under will meet to decide on policy.

They are expected to keep official short-term interest rates unchanged at 4.35%.

On the corporate side of things, Ashtead Group is scheduled to release its full-year results.

In a research note sent to clients, UBS analyst Rory McKenzie called attention to how the equipment rental group's organic rate of growth had slowed from the more than 14% pace seen between 2012-22 to 7-8% for the 2024-25 fiscal year.

Over the long-term, they believed that once "mature" Ashtead's Sunbelt unit would enjoy revenues of $17-18bn, twice the current annual pace.

However, it was possible that investors would see a scant acceleration towards that level soon, he said.

In the near-term he also saw earnings risk to the downside.

Tuesday 18 June


Oxford Biodynamics


Business Inventories (US) (15:00)

Capacity Utilisation (US) (14:15)

Industrial Production (US) (14:15)

Retail Sales (US) (13:30)

Retail Sales Less Autos (US) (13:30)

ZEW Survey (EU) - Economic Sentiment (10:00)

ZEW Survey (GER) - Current Situation (10:00)

ZEW Survey (GER) - Economic Sentiment (10:00)


Ashtead Group


Toyota Motor Corp.


Ashtead Group, De La Rue, Intercede Group, Tatton Asset Management , Telecom Plus


Acceler8 Ventures , Andrews Sykes Group, Anexo Group , Bay Capital , Bisichi , BlackBird, Falcon Oil & Gas Ltd., Gresham Technologies, ICG-Longbow Senior Secured UK Property Debt Investments Ltd, Intelligent Ultrasound Group , Kooth , Red Capital , Science Group , Somero Enterprises Inc. (DI), Whitbread




Email this article to a friend

or share it with one of these popular networks:

Top of Page