What to Watch in the Day Ahead - Thursday, May 8

Reuters
08 May
What to Watch in the Day Ahead - Thursday, May 8

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On the U.S. economic front, a report from the Labor Department is expected to show that initial jobless claims have likely decreased by about 11,000 to 230,000 for the week ending May 3. Continued claims for state unemployment benefits likely decreased to 1.886 million for the week ended April 26 from 1.916 million in the week before. Meanwhile, the Commerce Department's Census Bureau is expected to report that wholesale inventories remained unchanged at 0.5% in March.

Lyft is expected to report its first-quarter earnings. Analysts expect Lyft's revenue to rise, marking the slowest growth in more than a year. Wall Street expects details on how the company plans to navigate an uncertain economy and growing momentum in the robotaxi sector.

Novavax is set to report its first-quarter results before markets open. Investors will focus on comments regarding the U.S. health regulator's request for additional trials for its COVID-19 shot.

ConocoPhillips will report first-quarter results before markets open. Investors will likely focus on updates regarding its planned restructuring as well as the impact of tariffs and weak commodity prices on output and profitability.

Coinbase is expected to report a drop in first-quarter profit as tariffs-induced volatility in the markets dragged bitcoin as investors rushed to safer assets to park their money.

Arm Holdings is expected to report a jump in fourth-quarter revenue, with investors focusing on the chip architecture provider's traction in the AI market.

Carlyle Group is set to report its first-quarter results. Analysts will parse commentary from top executives to get insights about its investment strategy, especially as several peers have said they are capitalizing on the volatility to hunt for assets at a bargain price.

Match Group is expected to report a revenue decline in the first quarter amid market stagnation and a lack of new features, while investors look forward to new strategies to enhance the user base.

Tapestry is likely to post a growth in third-quarter revenue as it rides a demand wave for its Tabby handbags and other accessories, and is aided by limited exposure to tariffs imposed by the Trump administration. Investors will look out for management comments related to strategies to ramp growth amid a consumer slowdown in spending.

Pinterest is expected to report a higher first-quarter revenue. But the social media company's revenue is expected to slow in the quarter. Investors will be looking for commentary on digital advertising spending at a time when tariff-related uncertainty, combined with the ending of a duty-free import loophole, could shift marketing budgets to bigger platforms and delay certain campaign schedules.

Peloton is set to report its third-quarter earnings results before markets open. This will be the company's first quarter under new CEO Peter Stern, who took charge on January 1. Investors are expected to focus on commentary around demand, growth in its subscription services business and revenue forecast for the current quarter.

Beer maker Molson Coors is expected to post a decline in first-quarter revenue, hurt by tepid demand for its products. Investors will look for comments on the forecast, demand, pricing actions and impacts of tariffs.

Shopify is expected to report a rise in first-quarter revenue, as its AI tools and platform upgrades drive more merchant adoption, but questions remain on how U.S. import tariffs could affect sellers on the platform and hurt revenues in the coming months. Analysts will be watching for the company's outlook, its commentary on tariffs and measures it is taking to work around the impact.

The Bank of Canada will publish its Financial Stability Report. The Governor and Senior Deputy Governor will hold a press conference to discuss the contents of the report.

Sun Life is expected to show profit growth in the first quarter. The insurer's U.S. dental and stop-loss business will be in focus as they have faced challenges in recent quarters.

In Latin America, Brazil's inflation, as measured by the IGP-DI price index, is expected to have risen 0.35% in April, after falling 0.50% in March. Separately, the country’s producer price index figures for March will also be on the radar. Additionally, Mexico’s statistics agency, INEGI, is due to show that 12-month inflation accelerated to 3.90% in April after rising to 3.80% in March. Headline inflation for the country is likely to have increased 0.30% in April after gaining 0.31% the previous month, while core inflation will likely come in at 0.47% for April. Meanwhile, the country’s producer price index $(PPI)$ figures for April will also be released. Separately, Chile's April inflation is estimated to rise 0.30%, compared to a 0.50% rise recorded in March.

(Compiled by Kumar Satyam; Edited by Sahal Muhammed)

((Kumar.Satyam@thomsonreuters.com;))

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