What to Watch in the Day Ahead - Tuesday, Dec. 2

Mon Dec 1, 2014 2:45pm EST
 
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(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) The U.S. auto industry is scheduled to release November sales data. Automobile manufacturers are expected to report strong sales figures for the month (0000/0500). Separately, the Commerce Department issues construction spending for October. It fell for a second straight month in September. Meanwhile, Investor's Business Daily and TechnoMetrica Market Intelligence release the IBD consumer confidence index for December (1000/1500). U.S. Federal Reserve Vice Chair Stanley Fischer participates in panel before the 2014 Wall Street Journal CEO Council Annual Meeting (0810/1310). Separately, Federal Reserve Board Governor Lael Brainard gives welcome and opening remarks before the Economic Growth and Regulatory Paperwork Reduction Act Outreach Meeting (1200/1700). Meanwhile, Federal Reserve Chair Janet Yellen gives welcome remarks before the 2014 College Fed Challenge National Finals (0830/1330). Federal Reserve Bank of New York President William Dudley also participates in conversation with students and faculty at Lehman College (1530/2030). Apple Inc faces an antitrust trial. Opening statements are scheduled in the trial, where a group of consumers is accusing the iPhone maker of breaking antitrust laws in 2006 with an iTunes update. Apple says the update enhanced the user experience, but plaintiff lawyers say it forced iPod customers to play music only from Apple's store, which enforced monopoly control over the MP3 market. Plaintiffs are seeking $350 million in damages, which would automatically be tripled under antitrust law. Guidewire Software Inc, which makes software for the property and casualty insurance industry, is expected to report first-quarter revenue well above the average analyst estimate, according to Thomson Reuters StarMine data. Guidewire, which sees most of its revenue come from licensing, is expected to benefit from a long-deferred deal from a customer. The company said it intended to spend more this year on research and development and expand in new territories like Europe. Bank of Montreal will kick off the fourth-quarter reporting season for Canada's Big Six banks. The country's No. 4 lender is expected to report a stronger fourth-quarter profit, supported by loan growth at its Canadian and U.S. retail arms. Analysts expect Bank of Montreal to report adjusted earnings of C$1.68 per share, up from C$1.64 a year earlier. Automakers report their Canadian sales for November. The industry is on track for a record-breaking year and a decline in gas prices could give it even more momentum. In October, Chrysler Canada led the market as its sales jumped 23 percent, but Ford remained the country's top seller for the year to date. (All analysts' estimates are according to Thomson Reuters I/B/E/S) (Compiled by Sourav Bose in Bengaluru; Editing by Kirti Pandey)