What to Watch in the Day Ahead - Tuesday, April 5

Mon Apr 4, 2016 2:28pm EDT
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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) Walgreens Boots Alliance Inc, which has offered to buy smaller rival Rite Aid, is likely to report second-quarter sales below analysts' average estimate, according to Thomson Reuters StarMine. The drug store operator said that the process of gaining regulatory approval for the $9.4 billion deal, which would merge the No. 1 and No. 3 U.S. drugstore chains by store count, is proceeding as anticipated. Analysts have expressed skepticism about the deal receiving approval from antitrust regulators, saying the combined company would corner a big share of the market in several regions in the absence of independent pharmacies.

The U.S. trade deficit is expected to have widened in February as a rise in imports outpaced a rebound in exports, pointing to lackluster economic growth in the first quarter. Exports have been hurt by a strong dollar and weak overseas demand. According to a Reuters survey, the trade gap likely increased to $46.2 billion in February from $45.7 billion in January. (0830/1230) Separately, the Institute for Supply Management is expected to say that its index of non-manufacturing activity in March rose to 54 from 53.4 in February. (1000/1400) Chicago Fed President Charles Evans speaks on current economic conditions and monetary policy before the 2016 Credit Suisse Asian Investment Conference in Hong Kong. (0100/0500)

Canada's trade deficit is expected to have widened to C$900 million in February from C$660 million in January. (0830/1230) Canada's fifth largest bank Canadian Imperial Bank of Commerce holds annual shareholder meeting in Vancouver. The impact of the oil price slump will be in focus after the bank reported a sharp rise in losses from bad energy sector loans in the first quarter. Bank of Canada Senior Deputy Governor Carolyn Wilkins will give a speech in Vancouver on the topic of China's economic transition and what it means for Canada. As China is a major consumer of commodities, investors will look for insight on what impact the slowdown in the world's second-largest economy could have on Canada's resource sector. (1545/1945)

Chile's IMACEC economic activity index, encompassing about 90 percent of the economy tallied in gross domestic product figures, likely rose 2.4 percent in February from the same month a year ago, central bank data is expected to show. (0830/1230)

GMF - LIVECHAT on the U.S. economy with Sharon Snow A principal at U.S. investment adviser Metropolitan Capital Strategies LLC, Sharon Snow will give a reading of the U.S. economy, report on her clients' positioning in markets and take questions from the forum members. (1000/1400) To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled by Astha Rawat in Bengaluru; Editing by Maju Samuel)