What to Watch in the Day Ahead - Wednesday, March 4

Reuters
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What to Watch in the Day Ahead - Wednesday, March 4

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On the U.S. economic front, the ADP national employment report is expected to show that private payrolls likely grew by 50,000 jobs in February, after rising 22,000 in the month before. Meanwhile, the Institute for Supply Management is expected to report that the reading for non-manufacturing PMI is likely to come in at 53.5 in February, compared with 53.8 in January. Additionally, data for S&P Global's composite and services PMI for February are also due.Moving on to corporate earnings, Broadcom is expected to report revenue growth in the first quarter. Investors will be looking for commentary on the company's AI chip business and its profitability.Abercrombie & Fitch is expected to report higher fourth-quarter sales from year-ago levels, banking on its in-trend denimwear and other apparel. Investors will be keen on comments about the impact of the duty on imported goods under the Trump administration, consumer demand and the annual forecast.Bath & Body Works is expected to post a decline in fourth-quarter revenue, hurt by sluggish demand for its pricey scented candles and body care products. Investors will look for comments on pricing actions, consumer sentiment, impact of increased promotions and marketing expenses as well as annual forecasts.Jack Daniel's maker Brown-Forman is expected to report a decline in third-quarter revenue, hurt by weak demand for premium spirits, including whisky and tequila. Investors will look out for comments on annual forecasts, and efforts to cut costs and boost demand.Apparel retailer American Eagle Outfitters is expected to post a rise in its fourth-quarter revenue, helped by strong marketing-driven demand for its apparel and accessories even amid tariff uncertainty. Investors will look out for comments on the annual forecast, impact of policies on consumer sentiment, pricing and supply chain-related actions.Elsewhere, Bank of Canada Governor Tiff Macklem is slated to speak on global economic and financial stability risks.On the economic calendar, Statistics Canada is likely to release its fourth-quarter labor productivity data.In Latin America, Brazil's statistics agency, IBGE, is expected to publish producer prices data for January. Separately, S&P is likely to release Brazil's services and composite PMI data for February. Lastly, Brazil's foreign exchange flows data for the week ending February 27 is also due.

(Compiled by Lactus Fernandes in Bangalore; Edited by Vijay Kishore)

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