Pepsi beats quarterly profit forecast but warns of slowing snack demand

Inflation: Price pressures in the US are expected to have eased in June, with the consumer price index forecast to be up 3.1 per cent annually from May’s reading of 3.3 per cent, according to economists polled by Reuters. Annual growth in “core” CPI, which strips out volatile food and energy costs, is projected to stay at 3.4 per cent.

PepsiCo: Investors will be paying attention to what insights on consumer demand the fizzy drinks and snack maker will provide when it reports results before Wall Street’s opening bell. The market may also be on the lookout for whether growth at its Frito-Lay division has picked up after a sluggish first quarter. Analysts expect PepsiCo to report that group revenue in the second quarter rose 1 per cent from a year earlier.

Jobless claims: Initial applications for US state unemployment aid — a proxy for lay-offs — are expected to have fallen to 236,000 last week from 238,000 the previous week, as official statistics for June suggest the country’s labour market is showing signs of cooling. 

Delta Air Lines: The carrier will report second-quarter earnings before the market opens. The airline, which was relatively unaffected by Boeing’s production and delivery issues, enjoyed a record first quarter.

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