What to Watch in the Day Ahead - Wednesday, July 1
(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) Investors will be looking for ample fodder including the Institute for Supply Management's report which is likely to show manufacturing activity increased in June (1000/1400) and a bit stronger June private payrolls report from ADP. (0815/1215) Automakers will also report on June sales. They are seen cooling a bit after racing to their highest rate in nearly a decade in May. (1330/1730) General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, reports fourth-quarter results. The company said it would cut 675-725 jobs in its international business under a new restructuring plan aimed at cutting costs and boosting growth. The company will also shut plants in Methuen in Massachusetts and Lodi in California under another restructuring plan, cutting about 680 jobs by the end of financial year 2016. Maker of Corona beer Constellation Brands Inc reports first-quarter results. The company said in April it would spend more than $1 billion this year to expand its beer business. The company is also spending more than $2 billion in expanding its Mexican beer plant as demand for its Mexican beer brands increases from a growing Hispanic population in the United States. The company is expected to have benefited from higher sales of its brands such as Modelo Especial and Corona. Investors will be looking out for comments on any benefits from improved consumer spending in the United States. The U.S. Securities and Exchange Commission will convene a public meeting to propose rules required by the Dodd-Frank Wall Street reform law which would force corporate executives to have some of their incentive-based compensation clawed back in the event the company must restate its financial results. The HSBC Mexico Manufacturing Purchasing Managers' Index will show the sentiment of Mexico's manufacturing sector in June after it slipped in May to a seven-month low as output dipped. (0100/0500) Also, the HSBC Purchasing Managers' Index for the Brazilian manufacturing sector will be issued. (0900/1300) Consumer prices in Peru are expected to rise at a slower pace than the previous month. (0100/0500) LIVECHAT: GREEK FOCUS with a Greek expert, Jens Bastian from Athens Now that Greek government is seeking a referendum to euro zone's offer for extension of bailout, what is the general mood among the Greeks? What are other options at hand? Independent economist Jens Bastian, who joins us from Athens, will discuss the Greece situation at ground zero. (0300/0700) Separately, Christopher Vecchio, a currency strategist at DailyFX will talk about the outlook for the euro as Greece edges ever closer to defaulting on its debts and potentially crashing out of the euro zone. (0500/0900) To join the Global Market Forum, click here bit.ly/1kTxdKD Brazilian President Dilma Rousseff is scheduled to visit with Google CEO Larry Page; attend a lunch hosted by Condi Rice with top Silicon Valley execs from Facebook, Microsoft, Apple, Paypal, Cisco and Amazon; visit Stanford's research center; and visit the NASA research center at Stanford along with a meeting of top execs from Boeing, GE, Honeywell and Embraer. (Compiled by Hardik Vyas; Editing by Don Sebastian)
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