What to Watch in the Day Ahead - Wednesday, April 1
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Hiring by private companies is expected to have picked up in March, an early indication of a more upbeat overall employment report due later this week. The ADP National Employment Report is expected to show that private employers added 225,000 jobs last month, up from 212,000 jobs in February. (0815/1215) Separately, automakers will report their U.S. sales for March. Analysts expect sales to be flat or fall slightly from last year. However, on an annual basis, sales are expected to be strong in the month at 16.8 million-17 million vehicles. Investors and analysts want to see if the industry rebounds from a disappointing February, when cold and snowy weather hurt sales, especially in the last 10 days of the month. (1330/1730)
Monsanto Co, the world's largest seed company, reports second-quarter results. The company, which makes the world's most widely used herbicide Roundup, is seeking to soothe concerns that a key ingredient in its herbicide could be cancer-causing after an international health organization linked glyphosate to cancer. Investors will look for more details on that and comments on the company's progress on new products.
Chipmaker Micron Technology Inc is expected to report second-quarter revenue and profit below estimates, according to Thomson Reuters StarMine data. Micron, which makes DRAM and NAND chips for personal computers, smartphones, servers and other devices, had said that it expected production of its DRAM chips to fall in the second quarter as it upgrades production lines. The company had also said it would increase its overall DRAM production at a slower rate than competitors this year.
Federal Reserve Bank of San Francisco President John Williams moderates "Policy Session 3: Financial Stability: How Essential Should Financial Stability Be to Central Banks?" panel before the 2015 Financial Markets Conference. (0830/1230) Meanwhile, Federal Reserve Bank of Atlanta President Dennis Lockhart chairs "Policy Session 4: Monetary Policy: Will the Traditional Banking Channel Remain Central to Monetary Policy?" panel in the same event. (1030/1430)
Web hosting company GoDaddy's initial public offering is expected to raise about $418 million, valuing the company at up to $2.87 billion. The Internet domain registrar, many of whose Super Bowl advertisements featured race car driver Danica Patrick, competes with Amazon, Google and Microsoft. GoDaddy, which manages about a fifth of the world's Internet domains, was acquired by a private equity consortium led by KKR and Silver Lake in 2011. The company added more than 1.1 million customers in 2014. GoDaddy's debut is expected to signal a revival of technology IPOs in United States, which nearly halved in the first quarter.
Greg Foran, head of Wal-Mart Stores' U.S. division, will brief analysts and investors at the New York Stock Exchange. Focus will be on how the company's U.S. operations have fared so far this quarter, longer term plans for rolling out smaller-format stores and investments in keeping prices low as well as how Wal-Mart's recent wage hike has affected the business.
Automakers report their Canada sales for March. Fiat Chrysler Automobiles topped February sales, handily beating Ford Motor.
The statistics agency of Brazil releases data on industrial growth during February. Manufacturers have consistently been the weakest link in Brazil's economy as they struggle against competition from abroad, high tax and labor costs, and poor infrastructure. (0800/1200)
Peru's statistics agency releases inflation data for March. The consumer price index rose 0.3 percent in February and the annual inflation rate returned to within the central bank's 1-3 percent target range. (0200/0600) Separately, the closely watched survey of economists by Mexico's central bank will shed light on analyst expectations for growth and inflation. (Compiled by Sourav Bose in Bengaluru; Editing by Kirti Pandey)
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