What to Watch in the Day Ahead - Wednesday, March 30
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Payrolls processor ADP is expected to report that U.S. private employers added 194,000 jobs in March after adding 214,000 jobs in February. (0815/1215) Carnival Corp, the world's largest cruise ship operator, reports first-quarter earnings. Investors will be looking out for any changes to Carnival's 2016 forecast, comments on China, where the company has been increasing its presence, and on the launch of cruises to Cuba. They will also watch out for updates on the Zika outbreak, which the company said has had no impact so far on its operations. Memory chipmaker Micron Technology is expected to report second-quarter revenue and profit slightly below estimates, according to StarMine data. Micron has been hurt by weak demand and lower average selling prices for chips used in personal computers. Micron, which competes with Samsung Electronics and SK Hynix, has been investing to ramp up production of its higher-margin 20 nm DRAM chips and develop more efficient and cost-effective 3D NAND chips. Analysts will be on the lookout for the company's current quarter forecast to gauge market demand for memory chips and how pricing pressure will continue to impact the company. Chicago Federal Reserve Bank President Charles Evans, a dovish Fed official whose preference for a gradual tightening this year appears to have swayed colleagues, will continue to make the case against too many rate hikes this year when he speaks on current economic conditions and monetary policy before the Forecasters Club of New York. (1300/1700) Microsoft Corp Chief Executive Satya Nadella will speak at the 3-day annual Microsoft Build developer's conference in San Francisco. Brazil's primary budget deficit is expected to surge to 10 billion reais in February after posting a surplus of 27.913 billion reais in January. (0930/1330) Separately, Mexico also reports fiscal balance for February. (1630/2030)
Bank of Canada deputy governor Lynn Patterson gives a speech on "Adjusting to the Fall in Commodity Prices: One Step at a Time" in the energy-rich province of Alberta, which has been hit hard by falling oil prices. (1420/1820) LIVECHAT- EQUITY MARKETS with Reuters correspondent Alistair Smout Join Reuters equity correspondent Alistair Smout for a roundup of the themes driving equity markets. (0900/1300) To join the Global Markets Forum, click here here (Compiled by Astha Rawat in Bengaluru; Editing by Maju Samuel)
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