What to Watch in the Day Ahead - Thursday, October 9

PepsiCo is expected to post a rise in third-quarter revenue, helped by steady demand for its sodas and snacks as well as some higher prices. Investors will watch out for an update on the company's venture into protein beverages as well as its broader growth strategy amid pressure from activist investor Elliott Management.

Delta Air Lines is expected to report higher third-quarter profit. The focus, however, will be on the booking trends for holiday season as well as corporate travel demand.

With no economic indicators on the tap, investor attention pivots to commentary from Federal Reserve officials for guidance on the economic outlook and policy trajectory. The central bank will host a community banking-focused conference that "will bring together bankers, industry experts, and other stakeholders to discuss and identify issues facing community banks." Fed Chair Jerome Powell is expected to deliver welcome remarks through a pre-recorded video. (0830/1230) At the conference, Fed Vice Chair for Supervision Michelle Bowman is likely to deliver opening remarks (0835/1235), moderate a discussion on "Future of Community Banking: Challenges and Opportunities" (0845/1245), and later speak on "Looking Toward the Future." (1545/1945) Separately, Fed Board Governor Michael Barr is due to speak on the economic outlook at an Economic Club of Minnesota luncheon. (1245/1645) Lastly, San Francisco Fed President Mary Daly is set to participate in a moderated conversation before the Silicon Valley Directors Exchange. (2140/0140)

Levi Strauss is expected to post a drop in third-quarter revenue. The denim maker has benefited from strong demand for denim and apparel among younger shoppers. Investors will look for the impact of tariff pressure on margin and supply chain disruptions.

The owner of the University of Phoenix will list its shares on the New York Stock Exchange, making its stock market return after over eight years.

Speech by Bank of Canada Senior Deputy Governor Carolyn Rogers at Canadian Club Toronto. (0815/1215)

On the Latin American front, Mexico's national statistics agency INEGI will release September CPI and PPI figures. The country’s headline inflation is likely to rise 0.27% in September, after barely rising 0.06% in August. In the twelve-months through September, inflation is expected to be at 3.79%. The so-called core inflation is likely to show a rise of 0.32% in September, after rising 0.22% in the month before. On an annual basis, core inflation in September is likely to advance 4.28%. Separately, Brazil's government statistics agency IBGE will release the IPCA inflation index for September, which is forecast to have risen 0.52%, after falling 0.11% in August. On a yearly basis, inflation is expected to have increased 5.22%. Meanwhile, Peru’s central bank is scheduled to announce its monetary policy decision and is widely expected to keep its benchmark interest rate unchanged at 4.25%. Additionally, Peru's trade balance figures for August are also scheduled for release.