What to Watch in the Day Ahead - Wednesday, November 6
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The Federal Reserve will begin its two-day monetary policy meeting and is expected to continue policy easing measures that began in September with a bumper 50-basis-point rate cut.
CVS Health will report its third-quarter results before markets open. The focus will be on the conglomerate's medical costs and comments from newly appointed CEO David Joyner on how he will steer CVS' health insurance business.
Smartphone chipmaker Qualcomm is scheduled to report fourth-quarter results. Analysts expect it to record a jump in sales which investors will focus on indicators of end-market demand for the smartphone industry.
Lyft is expected to report a rise in third-quarter revenue as return-to-office mandates drive demand higher for ride-hailing services. Analysts are looking for details on how the company is coping with strong competition from dominant player Uber.
Take-Two Interactive is expected to report a slight decline in revenue in the second quarter as the videogame publisher grapples with uncertain spending on its sports and action-adventure games. Investors will be focused on any commentary surrounding the highly anticipated "Grand Theft Auto VI".
Arm Holdings is expected to report roughly flat quarterly revenue growth in the second quarter, as it grapples with delayed gains from the AI-fueled momentum that the rest of the chip industry is seeing. Investors will be focused on the company's forecast, updates on new licensing deals and commentary on expected benefits from Nvidia's new family of Blackwell chips.
Drug distributor McKesson Corp is expected to report second-quarter results after markets close. Investors are expected to look out for demand for its branded and specialty drugs.
Beyond Meat is expected to post a rise in third-quarter revenue, buoyed by benefits from its high-priced products including faux meat. Investors will look for comments on pricing actions, demand as well as comments on balance-sheet restructuring and annual forecasts.
Albemarle, the world's largest producer of lithium, is expected to swing to a quarterly loss in the third quarter amid tumbling prices for the battery metal.
Ansys is expected to report higher third-quarter revenue, helped by growing demand for demand for its AI-powered tools and engineering software solutions.
Wolfspeed is expected to report higher first-quarter revenue. Investors will be looking for commentary on demand from EV and industrial sectors.
Elf Beauty is expected to post a rise in second-quarter revenue helped by steady demand for its affordable skincare and cosmetic products. Investors will for comments on demand, the impact of potential rise in tariffs on imports, freight costs as well as annual forecasts.
Manulife's third-quarter profit is expected to slightly rise when it reports its earnings. Analysts will closely watch the insurer's performance in Asia.
On the Canadian economic tap, the Ivey Purchasing Managers Index for October is due for release.
The Bank of Canada Senior Deputy Governor Carolyn Rogers is scheduled to address the Economic Club of Canada in Toronto.
Brazil's central bank is expected to raise the Selic benchmark interest rate by 50 basis points to 11.25% after two days of discussion among policymakers. Additionally, the country's IGP-DI price index is likely to show inflation for October rose 1.54%, after rising 1.03% in the previous month.
Compiled by Archak Sengupta in Bengaluru; Editing by Vijay Kishore
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