(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at

. Thomson One users can register at RT/DAY/US. All times in ET/GMT) Bank of America, the second-biggest bank in the United States, is set to report a rise in its fourth-quarter profit, thanks to a rebound in dealmaking activity. Investors will watch out for the bank's 2025 forecast and management commentary on the business outlook.

Morgan Stanley is expected to join rival banks in benefiting from a recovery in investment banking when it reports fourth-quarter and full-year earnings. Analysts and investors will focus on the bank's outlook for dealmaking and IPOs bouncing back meaningfully in 2025.

On the U.S. economic calendar, the Commerce Department's Census Bureau is slated to publish retail sales figures for December. Retail sales may have risen at a slower pace of 0.6% last month, following a 0.7% increase in November. The rise in core retail sales probably remained at a 0.4% rate reached in November. In a separate Labor Department release, initial jobless claims are expected to have risen by 9,000 to a seasonally adjusted 210,000 for the week ended Jan 11. Meanwhile, continued jobless claims probably rose to 1.871 million for the week ended Jan 4, from 1.867 million in the week before. Additionally, data from the Bureau of Labor Statistics is set to show export prices edging up 0.2% in December, after remaining flat in November. Import prices in December likely rose at the same rate as in November at 0.1%. The Census Bureau will also release data on business inventories in December, which might have increased 0.1% in December, similar to the November rise. Additionally, the National Association of Home Builders housing market index probably shed 1 point in January to land at 45.

UnitedHealth is scheduled to report fourth-quarter results before markets open. These results come just weeks after the tragic shooting death of the CEO of its insurance division. Investors will focus on the healthcare giant's medical cost trends and its outlook for the next year. UnitedHealth has yet to appoint a successor to lead its insurance division.

Among regional banks, U.S. Bancorp is likely to report a rise in fourth-quarter profit, helped by growth in payment services. PNC Financial is projected to post a fourth-quarter profit, as it earned more from customer interest payments. M&T Bank is expected to report a slight rise in Q4 profit, thanks to lower loan loss provisions. Analysts will closely watch out for the bank's 2025 forecast.

Bank of Canada Deputy Governor Toni Gravelle is expected to give a speech on the central bank's balance sheet normalization process and how it will manage its balance sheet once normalization ends.

In Canada, housing starts is expected to fall to 245,000 units in December from 262,400 units in the previous month.

Economic activity in Brazil, as measured by the IBC-BR economic activity index, was probably flat in November, after inching up 0.1% in October.

(Compiled by Malini K; Edited by Vijay Kishore)

((Malini.K@thomsonreuters.com;))