What to Watch in the Day Ahead - Tuesday, March 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) A report from the Institute for Supply Management is expected to show that the manufacturing downturn is close to bottoming. The ISM's national manufacturing index likely edged up to 48.5 in February from a reading of 48.2 in January, according to a Reuters survey of economists. (1000/1500) Automakers will report February U.S. car and light truck sales, which are expected to rise to a seasonally adjusted pace of about 17.68 million vehicles, up from 16.4 million a year earlier and the highest since 2000 (18.9 million), according to LMC. However, there are worries that the oil price slump could slow demand for trucks and luxury cars in the Southwest and other energy states. Meanwhile, the Commerce Department is expected to report construction spending increased 0.4 percent in January after edging up 0.1 percent in December. (1000/1500) Dollar Tree Inc, the biggest dollar store chain, is expected to report fourth-quarter revenue above estimates, according to Thomson Reuters StarMine data. The company, which bought Family Dollar last year, has benefited as higher rents, taxes and healthcare costs have made its "$1 or less" concept highly attractive to thrifty shoppers. While sales more than doubled in the previous quarter, expenses tied to rebranding Family Dollar stores ate into profit and margins. Analysts have said this trend may continue to hurt the bigger company. Canada's economy is expected to have slowed substantially in the fourth quarter, though it should narrowly avoid another contraction. Canada was in a mild recession in the first half of 2015 and the country is struggling to regain momentum as the low price of oil takes its toll. (0830/1330) The RBC Canadian Manufacturing Purchasing Managers' Index will also provide a measure of the manufacturing business conditions in February. (0930/1430) Canada's Maple Leaf Foods, one of the country's two big pork processors with Olymel, reports fourth-quarter results. Of interest to investors is an update on whether its new facilities are ramping up production smoothly. The company has made profits in only two of the past 11 quarters as it shut down old facilities and opened new ones. Barclays Plc, the 320-year-old lender, is posting its first earnings report since new CEO Jes Staley was hired in December to take a more aggressive stance on the bank's turnaround. In the few months since Staley's appointment, Barclays has made sweeping cuts across its investment bank and exited several businesses across Asia, Central Europe, the Middle East and North Africa. The bank, midway through a three year cost-reduction plan that involves shedding 19,000 jobs, is expected to announce further strategic changes, and post a full-year reported loss due to further payment protection insurance provisions and tumultuous markets hitting the investment bank. Global fertilizer and lithium supplier SQM releases fourth-quarter results. The opaque company has seen its value wiped out by the ongoing corporate governance issues as well as a steep drop in potash and iodine prices. Analysts expect a slip in full-year sales and earnings, with net income seen at $260 million LIVECHAT - EURO ZONE CRISIS PART II? with Nicholas Spiro, Partner at Lauressa Advisory Nicholas Spiro joins us to shed light on unfolding macroeconomic developments in Europe. (0500/1000) To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled By Nayyar Rasheed in Bengaluru; Editing by Sriraj Kalluvila)
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