What to Watch in the Day Ahead - Wednesday, May 7

The Federal Reserve Open Markets Committee (FOMC) wraps up its two-day meeting, with expectations that the Fed Funds Target rate will remain unchanged at 4.25%–4.5%. Markets will closely watch the Fed's policy statement for clues on the path of interest rates. Fed Chair Jerome Powell is also scheduled to hold a press conference to discuss the committee’s decision and outlook.

Uber is expected to report a rise in first-quarter revenue, the slowest in over a year. Analysts expect the company to provide further guidance on how it looks to tackle an uncertain economy.

Walt Disney will report second-quarter results under the cloud of President Donald Trump's erratic tariff plans that have undermined consumer confidence and heightened fears of a recession -- which could sap discretionary spending on experiences like theme parks.

Betting group Flutter Entertainment is expected to report a rise in first-quarter core profit, driven by growth in its U.S. brand FanDuel and a lift from its acquisition of Snaitech from rival Playtech. Commentary on consumer sentiment and demand from Flutter, the world's largest online betting company, in light of escalating geopolitical and economic uncertainties, will be on investors' watchlist.

Faux meat maker Beyond Meat is expected to post a decline in first-quarter revenue, hurt by weaker demand for its products amid looming tariff uncertainty. Investors will look out for comments on demand, pricing actions, annual forecast as well as any changes to consumer sentiment.

The New York Times is expected to report a rise in first-quarter revenue, benefiting from higher subscriber additions for its bundle offerings.

AMC Entertainment is expected to report a decline in revenue for the first quarter amid economic uncertainty and recession fears as people might be cutting their discretionary spending.

Bumble is expected to report a revenue decline in the first quarter as the Bumble app turnaround might take a bit longer, especially with executive shake-ups. Investors have been a bit optimistic about the return of its founder, Wolfe Herd, as CEO to revive growth.

Global grain trader and oilseed processor Bunge Global will report first-quarter earnings amid a downturn in crop prices and rising global trade tensions that have upended commodity flows around the world. Thin soy crush margins created further headwinds for the world's largest oilseed processor, which is waiting on regulatory approval from China for its acquisition of grain handler Viterra.

Occidental will report first-quarter results after markets close. Investors will likely focus on impact of tariff and weak commodity prices on output and profitability.

Corteva is expected to report a slight fall in first-quarter profit. Investors will be looking out for commentary on global demand trends and whether the company expects any impact from Donald Trump's sweeping tariffs.

Cencora is expected to announce second quarter results, before markets open. Investors are expected to look out for any changes to the company's forecast and any impact from tariffs.

Vistra is expected to post a rise in first quarter results, driven by a surge in demand for nuclear power amid a rapid proliferation of AI-related infrastructure.

CF Industries will report first-quarter results after market close. Investors will be on the lookout for comments on the outlook for fertilizer demand amid ongoing uncertainty tied to potential tariffs and trade retaliation.

Manulife is expected to report a fall in first-quarter net income. Investors will watch for comments on the company's business in Asia, a key growth market, where the U.S.-China trade tensions and the macroeconomic ripple effect have raised doubts.

On the Latin American economic front, Brazil’s central bank rate-setting committee is expected to hike the Selic interest rate by 50 basis points to 14.75%. Meanwhile, Brazilian statistics agency IBGE is scheduled to release the country's industrial output figures. Industrial output probably likely expanded 0.3% in March after a decline of 0.1% in February. On a yearly basis, production in March is expected to grow 1.4%, after increasing 1.5% in the month before. The country’s trade balance figures for the month of April are also due. Separately, Chile's trade balance data for April will also be on the radar.

LIVECHAT-REUTERS GLOBAL MARKETS FORUM

WEEK IN MARKETS with Mike Dolan, Reuters editor-at-large for financial industry and market. (0800/1200) To join the conversation, click here