April private employment data and earnings results from Lyft (LYFT) and Peloton (PTON) will be in focus Wednesday.

Ahead of the market open, market participants will get another pulse check on the U.S. labor market ahead of the government jobs report due out Friday. The U.S. private sector is also expected to have seen a sharp decline in job losses in April due to the COVID-19 pandemic.

Economists surveyed by Bloomberg estimate 20.5 million job losses in the private sector during April, down significantly from 27,000 job losses in March.

Though the ADP report is not always a reliable indicator of what the Bureau of Labor Statistics (BLS) report will illustrate, it does provide a bit of insight into the health of employment in the U.S.

The BLS will release the April jobs report on Friday. Economists polled by Bloomberg are expecting the U.S. economy to have lost 21.3 million jobs in April, down from 701,000 job losses in March. The unemployment rate is estimated to have surged to 16% from 4.4% in the prior month.

After the closing bell, ride-sharing company Lyft and at-home fitness company Peloton will deliver quarterly results.

Lyft joined many other companies in late April and pulled its full-year revenue and EBITDA guidance due to uncertainty caused by COVID-19. A week or so later, Lyft announced that it would be laying off 982 employees, or about 17% of its total workforce.

Analysts estimate that Lyft will report an adjusted loss per share of 64 cents on $829.64 million in revenue.

Unlike its biggest rival Uber (UBER), Lyft is strictly a ride-sharing platform, and thus, can provide better clues on how ride-sharing fared during the peak of COVID-19 in the U.S.

“In the absence of having a food delivery segment and being a pure-play North American ridesharing platform, revenue will serve as a barometer for the health of the North American ridesharing, which we expect will see dramatic declines in Q2,” RBC analyst Mark Mahaney said in a note May 3.

Shares of Lyft sank 35% so far in 2020, while Uber was down 3% and the broader market fell 11%.

At-home fitness company Peloton has been one of the few companies that have seen a boost to business as a result of the coronavirus. People have turned to its services as officials around the country closed “non-essential businesses” like gyms.

“We expect solid results when PTON reports F3Q20 earnings, following our latest survey results which show rising awareness, esp. among younger cohorts,” Cowen analyst John Blackledge wrote in a note April 23. “PTON is well positioned to scale via a powerful brand, vertically integrated model & large addressable market; the pandemic is also likely spiking demand for PTON's market leading at-home fitness option.”

Peloton is expected to report an adjusted loss per share of 16 cents on $488.55 million in revenue during its fiscal third quarter. Shares of the company rose 25% in 2020.

Other notable earnings reports scheduled for Wednesday include CVS (CVS), General Motors (GM), Wendy’s (WEN), Wingstop (WING) before market open; Etsy (ETSY), Fox (FOXA), Grubhub (GRUB), IAC/Interactive Corp (IAC), PayPal (PYPL), Sonos (SONO), Square (SQ), T-Mobile (TMUS), Twilio (TWLO) after market close.

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Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

More from Heidi:

• Shake Shack's Q1 same-store sales tumble 12.8% amid global pandemic

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• Jobless claims: Another 3.84 million Americans file for unemployment benefits

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