North American equity markets appear to be in wait-and-see mode ahead of some key commentary from U.S. Federal Reserve Chair Jerome Powell on how the central bank is viewing its ongoing fight to quash inflation.
Powell’s set to be interviewed by David Rubenstein at the Economic Club of Washington, D.C. a little later this morning, where we’ll be watching for any clues Powell could drop as to whether the Fed will dampen expectations for potential rate cuts later this year.
We’ll be keeping an eye on shares of Finning International after the Caterpillar dealer blew past fourth-quarter earnings expectations. New equipment sales grew 52 per cent in the quarter due to significant mining equipment deliveries in Canada and South America. Bit of a weak end to the year over at Spin Master, where fourth-quarter preliminary toy revenue fell 26.8 per cent year-over-year. The company says tough comps are in part to blame, since 2021 saw big sales of products tied to 'Paw Patrol: The Movie' and 'The Batman' film. Notable data: Merchandise Trade Balance, U.S. Goods & Services Trade Balance, U.S. Consumer Credit
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