What to Watch in the Day Ahead - Friday, March 6
(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) Hiring in the United States slowed last month, although the jobless rate fell, the U.S. Labor Department is expected to report, augmenting signs that the labor market is continuing to improve. Analysts polled by Reuters forecast hiring to drop to 240,000 last month, compared with 257,000 in January. (0830/1330) Separately, the U.S. Commerce Department report on international trade is expected to show a $41.7 billion deficit in January, according to analysts. (0830/1330) No. 1 office supplies retailer Staples Inc's fourth-quarter sales are expected to be boosted by a rise in demand for copy and print products in North America. Staples' quarterly sales are expected to beat analysts' estimates, according to Thomson Reuters StarMine. The company is acquiring smaller rival Office Depot Inc for about $6.3 billion in cash and stock to better compete against online retailers such as Amazon.com. Staples is expected to file a registration statement with the SEC soon, which may shed light on its talks with the FTC about possible store divestitures needed to seal the deal. Investors will look out the company's full-year forecast and any regulatory comments on the acquisition. Federal Reserve Bank of Dallas President Richard Fisher speaks on "State of the Economy and Farewell, Dallas" before a Dallas Regional Chamber luncheon. (1330/1830) The Congressional Budget Office releases its updated baseline budget. The CBO will show how much of a deficit President Barack Obama's FY2016 tax and spending proposals would create. The new baseline will reflect stronger job growth over the past four months, since data was locked for its previous forecast. This may bring forecast deficits down, helping lawmakers to ease sequester spending constraints and making them feel more comfortable in extending tax breaks without offsets. Statistics Canada releases its report on building permits for January. Economists have estimated a 4.3 percent slump from December's 7.7 percent growth. (0830/1330) In a separate report, Canada's trade deficit is expected to have increased to C$1 billion in January. (0830/1330) Statistics Canada also reveals labor productivity for the fourth quarter. (0830/1330) Brazil's monthly inflation rate is expected to have stayed above 1 percent in February as local and federal authorities raised taxes, bus fares and electricity tariffs to shore up public finances. (0700/1200). In Mexico, the National Statistics Institute will show how consumer confidence fared in February after falling to a three-month low in January. (0900/1400). Separately, inflation in Chile is expected to have risen 0.2 percent in February, according to analysts polled by Reuters. (0600/1100) (Compiled By Astha Rawat in Bengaluru; Editing by Simon Jennings)
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