January 6, 2015 / 7:39 PM / in 4 years

What to Watch in the Day Ahead - Wednesday, Jan. 7

(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 survey of private sector hiring should provide a glimpse of the health of the U.S. job market last month, ahead of the U.S. Department of Labor’s broader employment report. Private employers likely continued to add jobs for the 58 straight month in December. The payrolls processor ADP’s National Employment Report is expected to report that private employers added 226,000 jobs in December, up from 208,000 in November (0815/1315). Separately, the U.S. Commerce Department will issue international trade data for November (0830/1330). Meanwhile, Mortgage Bankers Association releases its seasonally adjusted index of mortgage application activity (0700/1200). Monsanto Co., the world’s largest seed company and purveyor of genetically altered seeds and Roundup herbicide, issues its first-quarter earnings report along with an update on its research and development pipeline. Some analysts have recently downgraded Monsanto shares fearing a sizable drop in earnings - perhaps as much as 50 percent - and a flat second quarter. The company also faces increasing competition and accelerating consumer push-back against genetically engineered crops. Many analysts are keen to know how quickly the St. Louis-based company is advancing key new product lines and business platforms, including a farm data system. Federal Reserve Bank of Chicago President Charles Evans participates in conversation on the “Role and Impact of Monetary Policy in an Uncertain Economy” with Lars Peter Hansen of the University of Chicago (1730/2330). The Federal Open Market Committee will release the minutes from its December policy meeting (1300/1800). Eli Lilly and Co, whose earnings have been battered in the past three years by competition from generic medicines, plans to present its 2015 earnings guidance, weeks before the U.S. drugmaker announces fourth-quarter and full-year 2014 results. Wall Street expects Lilly’s earnings to grow by more than 15 percent next year, when no new major generic threats loom, and new medicines for cancer, diabetes and other conditions are expected to bolster results. An independent committee to the U.S. Food and Drug Administration is expected to make a recommendation on Novartis’ application to market a copycat version of Amgen’s biotech medicine, Neupogen, to patients with low white blood cell counts. The panel takes into account the staff review released by the FDA on Monday. The Swiss drugmaker’s generics arm, Sandoz, already sells a so-called biosimilar version of the drug in over 40 other countries, but the United States has been slower than other markets to establish a regulatory framework for biosimilars. Statistics Canada releases November trade balance data. Canada’s trade surplus shrank to a smaller-than-expected C$99 million the month before as imports outpaced export growth (0830/1330). Separately, Ivey Purchasing Managers Index data is scheduled to be released for the month of December (1000/1500). European Union’s statistics office Eurostat releases flash inflation data. Euro zone inflation is seen turning negative for the first time since 2009, boosting expectations that the ECB will carry out quantitative easing (0500/1000). Separately, the Bank of England holds a two-day Monetary Policy Committee meeting and is expected to announce interest rate decision on Thursday. (Compiled by Sourav Bose in Bengaluru; Editing by Savio D’Souza)

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