What to watch out for during the day – Friday May 3 – 05/02/2024 at 8:33 p.m.

What to watch out for during the day – Friday May 3 – 05/02/2024 at 8:33 p.m.
What to watch out for during the day – Friday May 3 – 05/02/2024 at 8:33 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

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May 2 –

A host of economic data is scheduled for the day. The Labor Department’s jobs report is expected to show that nonfarm jobs increased by 243,000 in April, after adding 303,000 jobs the month before. The number of private jobs is expected to increase by 190,000 in April, after increasing by 232,000 the previous month. The unemployment rate is expected to remain unchanged at 3.8% in April. Furthermore, average hourly wages likely increased by 0.3% on a monthly basis in April, following a similar increase the previous month. The average number of hours worked per week likely remained constant at 34.4 in April. Furthermore, the ISM non-manufacturing PMI index is expected to show a value of 52 in April, after a value of 51.4 the previous month. Additionally, S&P Global Services PMI and Composite PMI figures for April are expected to be released.

Federal Reserve Bank of New York President John Williams and Federal Reserve Bank of Chicago President Austan Goolsbee are scheduled to participate in a panel ahead of the “Getting Global Monetary Policy on Track” hybrid event hosted by the Hoover Institution of Stanford University in Stanford, California.

Hershey is expected to report an increase in sales in the first quarter, thanks to higher prices and strong demand for its chocolates and confectionery products. Investors will await comments on cocoa demand, volume growth, costs and prices.

Cheniere Energy, a leading U.S. LNG exporter, is expected to report a decline in first-quarter revenue. Investors are eagerly awaiting any comments on the outlook for LNG demand and disruptions in the Red Sea.

Stock exchange operator CBOE Global Markets is expected to record an increase in profit in the first quarter, thanks to increased trading volumes.

GPS navigation product maker Trimble is expected to report a decline in first-quarter revenue as agriculture and transportation markets struggle amid economic uncertainty.

Canadian pipeline company TC Energy will report its first quarter results. Investors will be awaiting updates on the company’s plans to spin off its oil pipeline business this year and sell assets worth C$3 billion to pay down debt.

Magna International is expected to report higher first-quarter revenue and profit, driven by an increase in demand for auto parts.

In Latin America, Brazil’s industrial production is expected to be released. Year-on-year, production is expected to have decreased by 2.6% in April after increasing by 5.0% in March. On a monthly basis, industrial production is expected to post a 1% gain in April after declining 0.3% in March. The country is also expected to release its CPI-Fipe inflation index and monthly bank lending data. Mexico will release its data on gross fixed investment, which is expected to have increased 12.1% in April, after rising 15.3% in March.

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