What to Watch Wednesday: Inflation Data, General Mills Earnings

On Wednesday, June 29, investors await key economic indicators and quarterly earnings from General Mills.
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On Wednesday, June 29, investors await key economic indicators and quarterly earnings from General Mills (GIS) - Get Report . At 8:30am Eastern, personal income, consumer spending and the personal consumption expenditure price index, all for the month of May, are due to be released. Personal income is expected to rise 0.3 percent, while analysts are forecasting a 0.4 percent increase in consumer spending month-over-month. Pending home sales for May will be unveiled at 10am, along with the EIA Petroleum Status Report at 10:30am. That tracks weekly crude inventories, which are expected to decline by 900,000 barrels for the week of June 24. As for earnings, General Mills reports quarterly results before the markets open. Analysts expect profit of $0.60 a share on revenue of roughly $3.9 billion. During the same quarter last year, the company earned $0.75 a share with sales of $4.3 billion. Agrochemical company Monsanto (MON) also releases earnings Wednesday morning. TheStreet's Scott Gamm reports from Wall Street.