The Week Ahead: Monsanto earnings, Independence Day travel

Here’s a look at some of the stories Missouri Business Alert is tracking this week:

Top picks

• The U.S. Senate begins its July 4 recess at week’s end, and doubts have emerged about the chamber voting before the break on a plan to replace and repeal the Affordable Care Act. Senate Majority Leader Mitch McConnell has pushed for a vote, but a small group of GOP moderates is resisting.

• Meanwhile, the full Missouri Senate is not expected to convene again until after Independence Day, according to multiple reports, meaning the special session Gov. Eric Greitens called over abortion will likely extend into next month.

• Monsanto is scheduled to report earnings Wednesday before markets open. The Creve Coeur-based seed company continues to navigate the approval process for its deal with German agribusiness giant Bayer. Bayer CEO Werner Baumann said talks last week with European antitrust regulators were “good and constructive,” and that he expects the deal to close by year-end.

• Also Wednesday, the Bureau of Labor Statistics will report metro-area unemployment for May. In April, Columbia had the lowest unemployment rate of the state’s eight metro areas measured, at 2.5 percent. St. Louis was highest, at 3.8 percent.

• Travelers across the country will venture out for Independence Day weekend, and AAA projects a new travel record for the holiday, with 44.2 million people expected to journey at least 50 miles from home. That figure, which would mark a 2.9 percent increase over 2016, is attributable in part to gas prices and airfares that are lower than a year ago, according to AAA.

Day planner

Monday

Durable goods orders reported; Chicago Fed National Activity Index released

Tuesday

Fed Chair Janet Yellen speaks; Consumer Confidence Index released; earnings expected from Dixons Carphone and KB Home

Wednesday

International trade in goods reported; Pending Home Sales Index released; earnings expected from General Mills and Monsanto

Thursday

St. Louis Fed President James Bullard speaks; first-quarter GDP reported (final estimate); farm prices reported; earnings expected from Conagra Brands, Constellation Brands, Nike and Walgreens Boots Alliance

Friday

Personal Income and Outlays reported


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