What to Watch in the Day Ahead - Wednesday, April 9

Minutes of the Federal Reserve's March policy meeting will be released, which is expected to clear some air about the central bank's rate-cut trajectory. Bets are high for a rate cut in May amid rising fears of a tariff-fuelled recession in the United States. Separately, Richmond Fed President Thomas Barkin is scheduled to participate in a conversation with the Economic Club of Washington. (1230/1630)

Delta is expected to report lower first-quarter profit. However, the focus will be on the strength of consumer demand in coming quarters, particularly during the summer travel season amid rising economic uncertainty.

Walmart is slated to issue its long-term forecasts for its business at its annual investment community meeting in Dallas.

Corona beer maker Constellation Brands is expected to post a decline in fourth-quarter revenue, hurt by tepid demand for products including beers and wines amid impact from the global trade war. Investors will look out for comments on demand, pricing actions, impact from import tariffs and annual forecasts.

On the U.S. economic tap, wholesale inventory figures for February will be released, which is estimated to show a 0.3% rise, similar to the prior month's increase.

A host of economic data are due in Brazil, Mexico and Argentina. Brazil's retail sales in February are projected to have risen 0.5% after declining 0.1% in January. Annually, retail sales likely gained 1.60%. Separately, Mexico's headline inflation likely edged up 0.31% in March, compared to 0.28% inflation recorded in February. In the 12 months to March, inflation is forecast to have risen 3.80%, compared to a rise of 3.77% posted in February. Meanwhile, poll numbers show core inflation likely gained 0.43% in March. The country's Producer Price Index (PPI) data for March is also on the calendar. In Argentina, industrial output data for February will be out.