What to Watch in the Day Ahead - Tuesday, August 5

Reuters
08-05
What to Watch in the Day Ahead - Tuesday, August 5

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Advanced Micro Devices is expected to report a sharp jump in second-quarter revenue, benefiting from a surge in demand for its artificial intelligence chips. Investors will be watching for commentary on U.S. President Donald Trump's chip export curbs and tariffs. Pfizer is set to report second-quarter earnings as investors await any details on the drugmaker's discussions with the U.S. government on tariffs and drug pricing policies. Sales of its COVID products, heart disease drug Vyndaqel and cancer therapies will also be closely watched.On the economic calendar, the Institute of Supply Management's non-manufacturing PMI for July is expected to show a reading of 51.5, compared to a reading of 50.8 for June. The S&P Global services and composite PMI final readings for July will also be on the investors' radar. The Commerce Department's Bureau of Economic Analysis is expected to report that the country's international trade deficit narrowed to $61.3 billion in June from $71.5 billion in the prior month.Caterpillar is expected to post a drop in second-quarter revenue and profit when it reports earnings. Apollo Global is scheduled to report its second-quarter earnings, with analysts expecting a jump in profit, thanks to a surge in fees and asset sales. Hotel Operator Marriott International will release its second-quarter results, with investors eyeing indications of a rebound in U.S. travel demand and fresh commentary on booking patterns around the globe.Analysts expect Rivian to report a rise in revenue on higher sales of more expensive versions of its R1T pickup truck and R1S SUV. Wall Street expects commentary on its profitability, delivery volumes this year and production of its cheaper R2 platform next year. Lucid is expected to report a surge in Q2 revenue as it ramps up deliveries of its luxury electric vehicles. Investors will be looking out for commentary on tariffs and the company's plans on localizing its supply chain.Snap is expected to report its slowest revenue growth for the second quarter in more than a year. Investors will be looking for commentary regarding advertising spending on the social media platform after Instagram parent Meta and Reddit reported upbeat quarterly results. Beer maker Molson Coors is expected to post a decline in second-quarter revenue, hurt by tepid demand for its products. Investors will look for comments on the forecast, demand, pricing actions and impacts of tariffs.Yum Brands is expected to post a rise in second-quarter revenue, helped by strong demand for Taco Bell in the U.S. as well as KFC in its international markets. Investors will look out for comments on demand amid rising economic uncertainty and pull back on dining out, impact of input costs as well as annual forecasts.Aluminium can maker Ball Corp is expected to post a rise in second-quarter revenue, helped by steady demand. Investors will watch for comments on steel tariff impact, demand forecast and cost control efforts.Global grains trader Archer-Daniels-Midland is expected to report a fall in its second-quarter adjusted profit on Tuesday, due to the continuing normalization of grain merchandising conditions. Analysts expect to look to cut costs where they can to support profits.Refiner Marathon Petroleum is expected to report a fall in second-quarter profit, hurt by higher turnaround expenses. Investors and analysts will look out for comments on full-year expectations.Chemicals and industrial solutions maker DuPont is expected to report a rise in second-quarter profit compared with a year ago, despite an industry downturn. The results are expected to be helped by higher sales across its segments.Canada is expected to report its trade balance figures for June, with economists predicting a deficit of C$6.3 billion, compared to a prior deficit of C$5.9 billion.In Latin America, Brazil's S&P Global services and composite PMI figures for July are due, after recording prior readings of 49.3 and 48.7, respectively.

(Compiled by Sameer Kulkarni in Bengaluru; Edited by Vijay Kishore)

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