What to Watch in The Day Ahead; Wednesday, July 2
(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) Private processor ADP's National Employment Report is likely to show that private employers added 200,000 jobs in June, a jump from May's below par 179,000 new jobs. The report foreshadows the Labor Department's employment data to be released Thursday, and will provide an early read on the performance of the labor market in June. (0815/1215) Separately, the Commerce Department is scheduled to release new orders for manufactured goods for May, which is expected to decline by 0.3 percent. (1000/1400) Fed Chair Janet Yellen delivers a lecture on financial stability at the International Monetary Fund, and participates in a conversation with IMF Managing Director Christine Lagarde. The issue of whether financial stability should be one of Fed's mandates is a heated subject, even within the U.S. central bank, with some arguing that it should focus only on unemployment and inflation. (1100/1500) Constellation Brands, which makes Svedka Vodka and Robert Mondavi wine, is scheduled to report first-quarter results. The company had said that higher spending to increase capacity at a Mexican brewery would hit profits in the year ending February 2015. It is expected to have had exceptional quarterly sales of beers, an area where the company has been concentrating growth efforts as sales of its wines and spirits stagnate. The Canadian arms of Ford, General Motors and Chrysler are scheduled to release June auto sales. The data will follow an all-time monthly record set in May, as pent-up demand helped drive a 5.7 percent jump in auto sales. Brazil's statistics agency is scheduled to release report on May's industrial output. Manufacturers have consistently been the weakest link in Brazil's economy as they struggle with competition from abroad, high tax and labor costs, as well as poor infrastructure. (0800/1200) The U.S. Securities and Exchange Commission and lawyers for Texas business brothers Samuel and Charles Wyly are scheduled to return to court to argue over the agency's remaining claims that the two engaged in insider trading, following a jury's finding in May that they committed fraud by creating a secret scheme involving offshore trusts that netted them $550 million in illegal trading profits. The proceedings are before U.S. District Judge Shira Scheindlin. (Compiled by Sourav Bose in Bangalore; Editing by Savio D'Souza)
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