What to Watch in the Day Ahead - Wednesday, July 31
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The Federal Reserve is expected to keep interest rates steady while announcing its policy decision, but may open the door to interest rate cuts as soon as September by acknowledging inflation has edged nearer to the central bank's 2% target.
Meta Platforms is expected to report a rise in its second-quarter revenue as ad spending rises on key events like the Paris Olympics and presidential elections in several nations including the U.S. Investors will seek comments on the AI roadmap, as well as reported plans to acquire a stake in its smart-glasses manufacturing partner EssilorLuxottica.
Boeing is expected to burn second-quarter cash, compared with generating $2.58 billion in cash during the same period a year earlier as the U.S. planemaker lowered the production of its strong-selling 737 MAX.
Chipmaker Qualcomm will report its third-quarter results, where investors will likely focus on indicators of demand for its smartphone chips from key markets like China and sales of its new AI PC semiconductors.
Arm Holdings will report results for its first quarter and forecast revenue for the second quarter. Investors are expected to focus on AI-linked demand for its chip designs as well as any sizeable licensing agreements added during the quarter.
The National Association of Realtors (NAR) is expected to show pending home sales likely rose 1.5% in June, after dropping 2.1% in May. Separately, the ADP Employment report is expected to show private payrolls increased by 150,000 jobs in July after a similar rise in June.
Kraft Heinz's second-quarter sales are forecast to drop as higher prices of meat cold cuts and packaged mac and cheese deter spending from cash-strapped customers. Investors will be looking out for comments on price investments and promotional strategy for the rest of the year as well as raw material costs.
T-Mobile is expected to report a rise in revenue in the second quarter as more customers opted for its discounted unlimited plans that include streaming perks.
Ecommerce platform eBay is scheduled to report largely flat revenue growth in the second quarter due to increased competition from Amazon.com and Walmart among other firms.
Grain trader Bunge announces second-quarter results, as it grapples with lower crop prices and crushing margins. Analysts will be listening for updates on Bunge's merger with Viterra, which still needs to be approved by regulators in several countries.
Humana is slated to report second-quarter results before markets open, where the focus will be on the insurer's comments on medical costs and changes to its annual outlook.
Online marketplace operator Etsy is expected to post a rise in second-quarter revenue, helped by higher transaction fees and steady demand for handcrafted products. Investors will look for comments on demand, promotions, discounts, impact from increasing competition from low-cost ecommerce platforms like Temu and annual forecasts.
Garmin's second-quarter revenue is projected to have risen due to steady demand for its products in fitness, auto and marine sector.
Lam Research is expected to post higher fourth-quarter revenue that could end its streak of five straight quarters of decline, driven by growing demand for its equipment used to manufacture semiconductors. Analysts and investors will be looking for commentary if Lam's revenue would be affected by the trade spat between the U.S. and China.
Norwegian Cruise Line Holdings is expected to post a rise in second-quarter revenue, helped by higher ticket prices and consistent demand for cruise vacations. Investors will be watching for comments on occupancy trends, impact from costs and any guidance for the company.
Industrial software maker PTC's third-quarter revenue is expected to show a decline as customers are spending cautiously amid high interest rates.
Dayforce is expected to report a rise in second-quarter revenue, helped by robust demand for its payroll and human capital management services.
CDW is scheduled to report a likely fall in revenue in the second quarter as clients cut back their technology budgets amid uncertain economic conditions.
In Canada, the country's GDP is expected to grow 0.1% in May, after recording a 0.3% rise in April.
On the Latin American front, Brazil's central bank is expected to hold interest rates steady at 10.5%. Meanwhile, Chile's June manufacturing output is expected to slip 1.2% after falling 2.2% in May. Additionally, the country's jobless rate is also due.
Compiled by Dhanya Manjunath Hegade; Editing by Vijay Kishore
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