Biden: The US president will hold a summit at the White House to discuss aid to Ukraine and how to avoid a government shutdown. Joe Biden will also be on the ballot for Michigan’s Democratic primary. While he is expected to win easily, the contest may give insight into how voters — especially Arab Americans — in the key swing state feel about the president’s stance on the war in Gaza.
Lowe’s: The retailer is forecast to report an 18 per cent revenue decline to $18.4bn in the fourth quarter, as consumers rein in spending on home improvement projects. Analysts polled by LSEG expect earnings to increase 11 cents to $1.69 a share. Investors will also be keen to learn more about its outlook for the current fiscal year after rival Home Depot last week said it expects sales growth to rebound.
Other companies: Constellation Energy, JM Smucker, Norwegian Cruise and Macy’s report earnings before the bell. Cava, eBay and Bumble will report after the bell.
Durable goods: Orders for long-lasting goods like washing machines and aircraft are forecast to have declined 4.5 per cent month-on-month in January, driven by an expected fall in Boeing orders. Meanwhile, new orders for non-defence capital goods excluding aircraft, a proxy for business investment, is forecast to increase 0.1 per cent from a 0.2 per cent gain in December.
US property market: The Case-Shiller index’s 20-city composite is expected to show home prices rose 6 per cent annually in December, according to an LSEG poll of economists.
US consumer confidence: The Conference Board is expected to report consumer confidence edged up slightly in February.
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