What to Watch in the Day Ahead - Tuesday, May 6

Reuters
06 May
What to Watch in the Day Ahead - Tuesday, May 6

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, Workspace/Eikon users can register at DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT

The Federal Reserve Open Markets Committee $(FOMC)$ begins its two-day meeting. The Fed is expected to leave interest rates unchanged this meeting, but it may be the last where the outcome is so cut and dry with U.S. President Donald Trump's tariffs casting a shadow of uncertainty over the economic outlook.

AMD is expected to report a jump in first-quarter revenue, with investors focusing on indications of demand for its AI chips and sales in its core PC and server CPU businesses amid widespread trade tensions.

The U.S. Commerce Department is scheduled to release its international trade data. The country’s trade deficit is likely to expand to $137 billion in March from $122.7 billion in February.

When Marriott reports its first-quarter earnings, investors will be closely watching for comments on travel demand and per-night room pricing in the U.S. amid economic uncertainty and poor consumer sentiment. They will also be interested in commentary regarding the pullback in U.S. visitation from Canadian, Mexican and European tourists.

Rivian is slated to post its first-quarter earnings, with analysts expecting a decline in revenue due to soft demand, partially because of the impact of fires in Los Angeles. Wall Street expects details on how the company plans to mitigate tariff costs.

Lucid is expected to report a sharp rise in first-quarter revenue, but investors will be awaiting details on the company's long-term strategy after the CEO stepped down earlier this year and whether the EV maker will stick to its production forecast amid tariff uncertainty.

Coty is expected to post a drop in third-quarter sales, as the broader beauty market witnesses a slowdown from consumers paring back spending on cosmetics and makeup. Investors will look for comments regarding mitigation plans due to Trump tariffs, changes to the forecast and any changes to consumer sentiment.

Froot Loops maker WK Kellogg is expected to post a decline in its first-quarter revenue, hurt by tepid demand for its higher-priced breakfast cereals amid rising tariff uncertainty. Investors will look for comments on mitigation plans, demand, pricing annual forecasts as well as any changes in consumer sentiment.

Electronic Arts is expected to report a fall in its fourth-quarter revenue as the videogame publisher grapples with sluggish demand for its core titles amid a broader pullback in consumer spending owing to tariff uncertainty.

Global grain trader Archer-Daniels-Midland is set to report its first-quarter earnings as the agribusiness battles a commodities market downturn worsened by rising global trade tensions. Thin oilseed processing margins and US biofuel policy uncertainty are adding headwinds for ADM, which is still reeling from an accounting scandal last year.

Suncor Energy will report its first-quarter results after market close. Investors will focus on any commentary on the newly elected Canadian government and its policies, as well as tariffs.

Wynn Resorts is expected to report its first-quarter earnings. Analysts expect the company to report a year-over-year fall in revenue and per-share profit, according to data compiled by LSEG.

Can maker Ball Corp is expected to post a rise in first-quarter revenue, helped by resilient demand for its sustainable beverage bottles and cans. Investors will look out for comments on cost-cutting measures, forecasts and impact from tariffs, especially on aluminium.

Statistics Canada is set to post the country’s trade balance figures for March. The trade deficit is likely to come in at C$1.56 billion. Separately, the Ivey PMI data is due, which could give clues on the country’s economic activity in April.

On the Latin American economic front, S&P Global is set to release April services and composite PMI data for Brazil. In March, the region’s services PMI stood at 52.5, while the composite PMI came in at 52.6.

(Compiled by Kumar Satyam; Edited by Sahal Muhammed)

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10