What to Watch in the Week Ahead and on Monday, March 30
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The meandering, somewhat disrupted activity in the markets should probably continue for most of next week, as investors keep adjusting to lowered earnings forecasts and the uncertain direction of the dollar. The greenback may continue to feel some pressure as funds flock to Europe - an additional $5.4 billion went into EU funds this past week, but it is possible that the QE effect will eventually run dry. Markets will probably trade very light into Friday's jobs report, because it comes on a day when the US equity market is closed and most world markets are also shut.
Monsanto Co, the world's largest seed company, reports second-quarter results on Wednesday. The company, which makes the world's most widely used herbicide Roundup, is seeking to calm rising concerns that the key ingredient in its herbicide could be cancer-causing after an international health organization on March 20 linked glyphosate to cancer. Investors will look for more details on that and comments on its progress on new products.
Micron Technology reports second-quarter earnings on Thursday. The company, which makes DRAM and NAND chips for personal computers, smartphones, servers and other devices, said in January it expects revenue between $4.1 billion and $4.3 billion.
Federal Reserve Chair Janet Yellen gives opening remarks before the Federal Reserve's "Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy" conference in Washington on Thursday. (0830/1230)
CarMax Inc, the largest U.S. used-car seller, is scheduled to report earnings for the second quarter on Thursday. The company reported a 16 percent rise in revenue in the previous quarter as easier availability of credit helped it sell more pre-owned vehicles at higher prices.
Automakers are set to unveil new, mostly luxury models at the New York Auto Show on Wednesday at the Javits Center. General Motors will unveil its new top of the line Cadillac car, the CT6. The most important thing about the car is under its skin, a body made of aluminum, steel and plastic mixed together with the help of a supercomputer to produce what GM engineers believe is the best balance between strength and weight.
Warren Buffett is scheduled to address a ballroom full of car dealers at a conference in New York City sponsored by the National Auto Dealers Association on Tuesday. Buffett's Berkshire Hathaway recently acquired a big auto dealership chain, and Buffett has said he wants to buy more.
Hardwood flooring retailer Lumber Liquidators Holdings Inc will update its net sales through March 31 on Thursday. The company expects to host its first-quarter earnings call in late April, when it will comment on demand trends after a report from CBS's "60 Minutes" alleged the company's flooring had higher-than-permitted levels of formaldehyde, a known carcinogen. Continued...