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 DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT
ON MONDAY
On the U.S. economic front, the Institute for Supply Management is expected to report that its manufacturing PMI likely edged up to 49.8 in January from 49.3 in the prior month. Also, S&P Global manufacturing PMI data for January is due.
Tyson Foods is expected to report a slight increase in first-quarter revenue from demand improvements in its chicken and beef businesses. Investors will look out for comments on forecasts, about Trump tariffs affecting trade or immigration policy affecting the workforce, cattle supply, the impact of recent bird flu, and cost savings measures including plant closures. Clorox is expected to post a fall in second-quarter revenue as price hikes temper, and the company goes up against tougher year-ago compares. Investors will watch out for comments on volume growth and expectations for the rest of the year.
St. Louis Fed President Alberto Musalem is due to give welcome remarks before the 2025 Homer Jones Memorial Lecture in Missouri. (1230 ET/1730 GMT) Meanwhile, Atlanta Fed President Raphael Bostic is set to speak on the economic outlook in a moderated conversation hosted by the Rotary Club of Atlanta in Atlanta. (1830 ET/2330 GMT)
Google is expected to ask a U.S. appeals court at a hearing to reverse a judge's order requiring the Alphabet unit to redesign its app store Play, as the tech giant prepares for the next round in an antitrust battle with "Fortnite" maker Epic Games.
AT&T is set to urge the New Orleans-based 5th U.S. Circuit Court of Appeals to overturn a $57 million penalty the Federal Communications Commission imposed on the U.S. wireless carrier for illegally sharing access to customers' location information.
IDEXX Laboratories is set to report its fourth-quarter results. The focus will be on 2025 outlook and comments on vet visit trends which has a challenge for the animal health diagnostic equipment maker. A judge in Missouri is scheduled to hold a hearing on a bid by pharmacy benefit managers — UnitedHealth Group's Optum, CVS Health's CVS Caremark and Cigna's Express Scripts — to block a Federal Trade Commission lawsuit accusing them of anticompetitive practices that jacked up the price of insulin.
Canada's S&P Global Manufacturing PMI for January will be on investors' radar.
REST OF THE WEEK
A raft of U.S. economic data is scheduled for release in the week. On Friday, the Labor Department's employment report is expected to show that nonfarm payrolls in January increased by 170,000 jobs after growth of 256,000 jobs in December. Meanwhile, the unemployment rate is expected to come in 4.1% in January, similar to prior month's reading. Private payrolls probably rose by 140,000 jobs, compared to 223,000 jobs in the prior month. Additionally, average earnings likely inched up 0.3% in January, while, on annual basis, average earnings is forecast to rise 3.8%. On Tuesday, Job Openings and Labor Turnover Survey will also be on investors radar. On Wednesday, the ADP national employment report is expected to show that private employment likely grew by 150,000 jobs in January, after advancing by 122,000 jobs in the month before. Furthermore, on Thursday, initial jobless claims for the week ending Feb. 1 are forecast to rise to 215,000 up from 207,000 the previous week. On Wednesday, the Institute for Supply Management is expected to report that the non-manufacturing PMI likely inched up to 54.2 in January from 54.1 in the prior month. Additionally, on the same day S&P Global composite and services final PMI data for January are also due. On Tuesday, the Commerce Department is expected to report that factory orders likely declined 0.8% in December after falling 0.4% in November. The department, on Wednesday, is also likely to post that the country's international trade deficit widened to $96.5 billion in December from $78.2 billion in November.
Google-parent Alphabet is expected to report a rise in its fourth-quarter revenue on Tuesday, aided by strong digital advertising demand and growth in its cloud unit. Investors will be watching for the company's outlook, trends on Google's AI initiatives including AI Overviews and Gemini, as well as its capital spending plans.
E-commerce giant Amazon is expected to report a jump in its fourth-quarter revenue on Thursday, powered by a holiday shopping season boost in its retail business and steady growth at its cloud computing unit. The company's forecasts, capital spending plans, and cloud growth expectations will be on top of investors' minds.
A host of U.S. Federal Reserve policymakers are due to speak at different events. Fed Vice Chair Philip Jefferson is due to speak on the U.S. economic outlook and monetary policy before the Lafayette College Economics Department Special Lecture in Easton on Tuesday. Additionally, Jefferson is slated to give a lecture, "Do Non-Inflationary Economic Expansions Promote Shared Prosperity?" at Swarthmore College in Pennsylvania on Wednesday. On the same day, Fed Board Governor Michelle Bowman is due to give brief economic update and bank regulation remarks before the 2025 Kansas Bankers Association Harold A. Stones Government Relations Conference in Topeka. Bowman is also due to give brief economic update and bank regulation remarks before the 2025 Wisconsin Bankers Association Bank Executives Conference in Milwaukee on Friday. Meanwhile, Fed Board Governor Christopher Waller is set to discuss "Payments" before the "Navigating the Future of Payments with Christopher Waller" event hosted by the Atlantic Council in Washington on Thursday. Additionally, Fed Board Governor Adriana Kugler, on Friday, is expected to speak on "Entrepreneurship and Aggregate Productivity" before the 2025 Miami Economic Forum in Miami. Richmond Fed President Thomas Barkin is set to participate in fireside chat before the Conference Board "2025: A Year in Preview" Conference in New York on Wednesday. On the same day, Chicago Fed President Austan Goolsbee is expected to speak on economic perspectives before hybrid 31st Annual Automotive Insights Symposium in Chicago. Meanwhile, Bostic is slated to speak on housing in a moderated conversation before a National Housing Crisis Task Force Meeting in Atlanta on Tuesday. On the same day, San Francisco Fed President Mary Daly, is expected to participate in hybrid discussion, "The Economy 2025: the Impacts of Tariffs, Tax Cuts and Trump" before the Commonwealth Club World Affairs of California in San Francisco. Drugmaker Pfizer is expected to report fourth-quarter earnings on Tuesday, a little over a month after it forecast 2025 profit roughly in line with Wall Street expectations. Performance of its COVID-19 vaccine, antiviral drug Paxlovid, and newer cancer drugs will be closely watched, alongside any updates on its experimental obesity drug. Comments around any engagement with activist hedge fund Starboard Value will also be of interest.
Eli Lilly is set to report fourth-quarter earnings on Thursday, weeks after it forecast quarterly sales of its popular weight-loss treatment Zepbound below Wall Street estimates. Investors will look for comments around supply and inventory of Zepbound and diabetes drug Mounjaro at wholesalers, as well as any steps that Lilly is taking to stimulate demand. Focus will also be on any updates from its next-generation obesity drugs. Regeneron is expected to report its fourth-quarter results on Tuesday. Investor focus will be on the drugmaker's 2025 outlook and performance of the its eczema drug and eye drug, which is facing competition from biosimilars.
PepsiCo is expected to post a slight rise in fourth-quarter revenue on Tuesday, benefiting from still steady demand for sodas internationally but taking a hit from lackluster sales in its snacking department in the US. Investors will look out for comments on promotions, cost-saving initiatives and outlook for the new fiscal year.
Analysts expect Uber to report a rise in fourth-quarter revenue on Wednesday, helped by demand for ride-hailing services during the holidays. Investors expect the company to comment on its robotaxi partnerships, offerings and expansion to compete with rivals in the sector.
KKR is expected to post a jump in it's fourth-quarter profit when the alternative asset manager reports its earnings on Tuesday, driven by higher fee related earnings.
Arm Holdings is expected to post a increase in its third-quarter revenue, helped by companies designing new chips due to a rapid increase in artificial intelligence applications.
Mondelez is expected to announce an increase in fourth-quarter revenue on Tuesday, on demand for its snacks and confectionery. Investors will look out for comments on forecasts, impact, and efforts to offset cocoa price inflation, including cost-saving measures and pricing strategies.Chocolate maker Hershey is expected to post a drop in fourth-quarter sales on Thursday, hurt by soft demand and rising cocoa prices. Investors will look out for comments on commodity costs, consumer demand for chocolates and salty snacks as well as annual forecast.
PayPal is expected to report a higher fourth-quarter revenue on Tuesday, thanks to strong holiday season spending at the digital payments giant. Analysts and investors will be watching for the company's outlook on spending growth in 2025 and its path to expanding operating margins. Payments firm Fiserv is expected to post a rise in fourth-quarter profit on Wednesday, as spending trends remained robust.
The crude producer ConocoPhillips is expected to report lower fourth-quarter profit, on Thursday, compared to the same quarter a year ago. Investors will watch for any commentary on global oil supply and demand and Trump's tariff plans. Meanwhile, Marathon Petroleum is expected to report a lower fourth-quarter profit on Tuesday. Investors will look for comments on Trump's tariff plans, first quarter updates, and renewable fuels.
Electronic Arts is expected to report a slight fall in third-quarter bookings after the company warned of weaker performance of its popular EA FC franchise and worse-than-expected sales for its new Dragon Age title. Roblox is expected to report a jump in fourth-quarter revenue on Thursday as the videogame platform benefits from healthy in-game spending on its games during the holiday season.
Toymaker Mattel is expected to post fourth-quarter sales flat to last year on Tuesday, owing to strained US consumer spending backdrop and fading benefits of Barbie sales last year. Investors will look out for comments on tariff impacts, demand recovery and margin progress.
Yum Brands is expected to announce a rise in fourth-quarter revenue on Thursday, on demand recovery for restaurants in the U.S. Investors will look out for comments on forecasts, marketing and promotional activities, and cost-saving measures.
Chipotle Mexican Grill is expected to post a rise in its fourth-quarter revenue on Tuesday, helped by strong demand for its buritto bowls and wraps. Investors will watch out for CEO Scott Boatwright's plans for price hikes for the rest of the year, as well as comments on input costs.
Global grains merchant Archer-Daniels-Midland is expected to report its fourth-quarter results on Tuesday. The results will be closely watched by investors as the company continues to grapple with accounting irregularities which forced it to correct six years of financial data. Meanwhile, grain trader and processor Bunge is expected to post a fall in its fourth-quarter profit on Wednesday. Investors will be on the look out for comments on its $34 billion acquisition of Viterra, which still needs to clear some regulatory hurdles.
Private equity giant Apollo Global Management is expected to post its fourth-quarter results on Tuesday. Analysts expect the company to report higher fee-related earnings, thanks to a better environment for dealmaking. Snap is expected to report higher fourth-quarter revenue on Tuesday, driven by strong digital advertising spend on its platform during the crucial holiday shopping season when brands spend heavily to promote their products and services. Investors will be looking for commentary on uncertainty over a potential U.S. TikTok ban, benefits and risks of its app redesign, dubbed "Simple Snapchat," and any impact from stronger U.S. dollar on the current quarter expectations. On the same day, Spotify is expected to report higher fourth-quarter revenue, helped by price increases of its premium plans and growing subscriber base. Investors will be looking for commentary on how the Swedish audio streaming company's artificial intelligence initiatives are helping it to boost its services. Image-sharing platform Pinterest is expected to report higher fourth-quarter revenue on Thursday, driven by strong digital advertising spend on its platform during the crucial holiday shopping season when brands spend heavily to promote their products and services. Analysts and investors will also eye on Pinterest's commentary about advertisers from food and beverage sector as they were grappling with macroeconomic challenges and adoption of its Performance+ artificial intelligence driven advertising tools.
Tobacco company Philip Morris International is expected to post a rise in fourth-quarter sales on Thursday, driven by strong demand for nicotine pouches and other smoking alternatives. Investors will look out for 2025 forecast and comments on demand outlook.Broadcasting company Fox Corp is expected to report a rise in its second-quarter revenue and profit on Tuesday, helped by an uptake in political advertising spending in the run-up to the U.S. presidential elections and incremental advertising earnings from Tubi, its ad-supported streaming service. On Wednesday, News Corp is expected to report a rise in second-quarter profit, despite declining revenue, as the company's efforts to realign its focus on its core publishing business — including the sale of its Australian cable-TV unit Foxtel to DAZN — is helping the company to cut back on costs. Packaged food company Kellanova is expected to post a rise in fourth-quarter sales on Thursday, driven by steady demand for its salty snacks offerings. Investors will look out for comments on progress in its merger deal with Mars, and demand forecast.
Ralph Lauren is expected to post a rise in third-quarter revenue on Thursday, driven by a strong demand for its pricey cashmere sweaters and shirts during the holiday season. Investors will look out for comments regarding an increase in prices, business in China and an update to its fiscal year outlook.
Bitcoin buyer MicroStrategy is expected to post a fourth consecutive quarterly loss when it reports its Q4 earnings next week. Reuters NEXT Newsmaker- International Monetary Fund's Kristalina Georgieva is set to speak with Reuters White House Correspondent Andrea Shalal about the challenges facing the global economy at a time when heightened trade tensions between the United States – the IMF's largest shareholder - and other countries threaten to hamper already lacklustre global growth prospects.The IMF has warned countries against taking unilateral trade protection measures such as the widespread tariffs on imports threatened by President Trump, saying such policies could trigger retaliation and "leave every country worse off". Bristol Myers Squibb is set to report its fourth-quarter results on Thursday. The focus will be on its annual outlook and updates on its $1.5 billion cost savings program. Health insurer Centene is expected to report fourth-quarter results on Tuesday. Investors are expected to look out for any changes to its 2025 profit forecast and any commentary on the company's medical costs. Allstate is expected to report a higher profit next week when it reports its fourth-quarter earnings on Wednesday. Investors will watch out for updates from the company on the impact from the LA fires. Edwards Lifesciences is expected to give its fourth-quarter results on Tuesday. Investor focus will be on the performance of its artificial heart valves. Air Products and Chemicals is expected to report its first-quarter results on Thursday. Investors will closely watch the results as it will be APD's first earnings since company's shareholders handed victory to activist investor Mantle Ridge by unseating the CEO from its board. Intercontinental Exchange is expected to post a rise in fourth-quarter profit on Thursday, helped by strong trading volumes. Cboe Global Markets is set to its fourth-quarter results on Friday. Analysts expect a rise in profit. Regency Centers is expected to post a rise in its fourth-quarter revenue as the company benefits from strong leasing demands at its grocery-anchored shopping centers. Beer can maker Ball Corp is expected to post a drop in fourth-quarter revenue on Tuesday, hurt by slowing demand for alcoholic drinks. Investors will look out for progress on cost-cutting measures, demand outlook and any potential impact from tariff changes. Prudential Financial is set to report its fourth-quarter results on Tuesday. Analysts expect a rise in profit. Willis Towers Watson is set to report its fourth-quarter results on Tuesday. Analysts expect a rise in profit. Commercial real estate investment trust Simon Property is expected to post a jump in fourth-quarter revenue on Tuesday helped by leasing demand for its shopping centers real estate space. Investors will watch for annual forecast. Cable providers Comcast and Charter Communications are set to defend at trial against allegations that their software infringes patents owned by software developer Touchstream related to streaming videos from one screen to another. Touchstream won a $338.7 million jury verdict against Google in a related case last year over Google's Chromecast technology.
Kimco Realty is expected to post a rise in fourth-quarter revenue on Friday, helped by strong demand for rental spaces. Investors will look out for 2025 forecast and comments on competition in commercial space leasing. Sam Altman, co-founder and CEO of OpenAI, is slated to take part in a panel at the Technical University Berlin on artificial intelligence. Canada's Bombardier is expected to report higher fourth-quarter deliveries on Thursday as the business jet maker handed more planes to customers.
On Wednesday, Canada's trade balance data for December is likely to show a surplus of C$340 million, following a deficit of C$323 million in November. On Thursday, the country's Ivey Purchasing Managers Index for January is also due. On Friday, a StatsCan report is expected to show that the Canadian economy likely added 25,000 jobs in January. Meanwhile, the unemployment rate probably inched up 6.8% in January from 6.7% in December. In Latin American region, on Wednesday, Brazil's statistics agency IBGE is expected to report industrial production data for December, along with S&P Global composite and services final PMI data for January. Mexico's central bank will hold its first monetary policy meeting of 2025 on Thursday. Investors will also look out for Mexico's S&P Global manufacturing PMI data for January on Tuesday. Mexico's January inflation figures are set for release on Friday. Separately, the country's statistics agency is expected to report gross fixed investment on Wednesday.
(Compiled by Lactus Fernandes in Bengaluru; Edited by Shilpi Majumdar)
((Lactus.Fernandes@thomsonreuters.com;))
Comments