Employers in the U.S. probably added more than 200,000 jobs for a fourth straight month in May, highlighting further progress in the labor market, data this week may show.
Group of Seven leaders including U.S. President Barack Obama meet in Brussels to discuss the Ukraine crisis and Iran’s nuclear program. The planned Group of Eight summit was canceled over Russia’s annexation of Crimea.
Obama and Russian President Vladimir Putin will be among leaders visiting France for D-Day commemorations.
The European Central Bank and Bank of England will make interest-rate decisions.
MONDAY, JUNE 2
-Manufacturing (NAPMPMI) in the U.S. probably accelerated for a fourth month in May, according to a Bloomberg survey, showing factories will help the economy rebound in the second quarter. The Institute for Supply Management releases its report at 10:00 in Washington.
-The International Atomic Energy Agency holds its quarterly meeting in Vienna to discuss its findings on Iran. World powers are seeking to conclude a deal with Iran to place curbs on its nuclear program in exchange for lifting sanctions. Through June 5.
-Japan reports first-quarter capital spending. The figure is used to revise preliminary GDP (KOGDPYOY) data that showed the economy growing at an annualized 5.9%, the most since 2011, in the first three months of 2014. 08:50 in Tokyo (06/01 19:50 EDT).
-Obama’s greenhouse-gas proposals. The president this week may announce limits on the amount of carbon dioxide released by power plants in an effort to reduce global warming. The restrictions would hurt coal producers that mine a fuel used to generate about 39 percent of U.S. electricity last year. Coal companies oppose the effort and the U.S. Chamber of Commerce says the regulations could cost the economy $50 billion a year, while environmental groups and nuclear utilities are more supportive. Timing to be determined.
-U.S. Treasury Secretary Jacob J. Lew and David Cohen, undersecretary for terrorism and financial intelligence, will speak in Washington at the Center for Strategic and International Studies about the evolution of the department’s role in national security to mark the 10-year anniversary of the creation of the Treasury’s Office of Terrorism and Financial Intelligence. 08:30 in Washington.
-The SEC and conflict minerals. U.S. public companies must disclose their use of minerals from war-torn parts of the Democratic Republic of Congo under a Securities and Exchange Commission rule effective today. The rule faces legal challenges from the Chamber of Commerce and other groups.
-ECB Supervisory Board Chair Daniele Nouy participates in a panel discussion at the International Monetary Conference 2014. 13:45 CET in Munich (07:45 EDT).
-The Eurelectric conference takes place in London with a gathering of power-industry executives and ministers including Johannes Teyssen, chief executive officer of EON SE, and Tapio Kuula, president of Fortum Oyj. 09:00 in London (04:00 EDT.) Through June 3.
-German Chancellor Angela Merkel meets Georgian Prime Minister Irakli Garibashvili. There will be a press conference at about 13:15 CET in Berlin (07:15 EDT).
-U.S. government bond auctions, Fed debt purchases. Click here for schedule.
-ECONOMY: Markit final PMI Japan manufacturing (May), Euro-area final manufacturing PMIs (May), German inflation (May), U.K. manufacturing PMI (May), U.K. mortgage approvals (April), Swiss manufacturing PMI (SZPUI) (May), South Africa manufacturing PMI (May), HSBC Turkey manufacturing PMI (May).
TUESDAY, JUNE 3
-Obama’s Europe trip. The president’s four-day tour starts with talks in Poland about Russia and Ukraine. He has said he plans to meet with Petro Poroshenko, Ukraine’s president-elect. Obama flies to Brussels on June 4 for a meeting of the G-7 countries, originally scheduled as a G-8 summit in Sochi prior to Russia’s annexation of Crimea. On June 5, he heads to Paris for dinner with President Francois Hollande and on June 6, Obama attends ceremonies in Normandy marking the 70th anniversary of the D-Day invasion of World War II.
-North Atlantic Treaty Organization meeting. NATO defense ministers discuss reinforcements for eastern Europe amid the Ukraine crisis and the withdrawal of forces from Afghanistan. The meeting starts at about 12:00 CET in Brussels (06:00 EDT) and continues tomorrow, June 4.
-Syrian presidential election. President Bashar al-Assad faces two challengers in a country wracked by civil war. He is widely expected to win a third, seven-year term and a new mandate to continue his onslaught against the three-year insurgency. Polls open at 07:00 in Damascus (00:00 EDT). The timing of results is yet to be determined.
-The U.S. Commodity Futures Trading Commission’s Technology Advisory Committee will hold a public meeting focusing on issues related to high-frequency trading, the agency’s surveillance program and swap-execution facilities. 10:00 in Washington.
-U.S. Congressional primaries. In the Mississippi Senate Republican primary, Thad Cochran is seeking a seventh six-year term against state senator Chris McDaniel. Former Mississippi Governor Haley Barbour, the U.S. Chamber of Commerce and the National Republican Senatorial Committee back Cochran, 76, while the small-government activist groups Club for Growth, FreedomWorks and Senate Conservatives Fund support McDaniel, 41. Polls close at 19:00 central time (20:00 EDT). Other primaries will take place in Alabama, California, Iowa, Montana, New Jersey, New Mexico and South Dakota.
-U.S. campaign financing. The Senate Judiciary Committee holds a hearing on a proposed constitutional amendment that would let Congress try to reverse the Supreme Court’s 2010 ruling in the Citizens United case. That decision removed limits on independent corporate and labor union campaign spending. 10:30 in Washington.
-Maria van der Hoeven, executive director of the International Energy Agency, and Fatih Birol, the chief economist, will present the World Energy Investment Outlook in London. The special report provides the Paris-based adviser’s update on the energy investment outlook to 2035. 10:00 local time (05:00 EDT).
-Computex Taipei 2014. Speakers at this annual trade show and conference will include ARM Holdings Plc CEO Simon Segars, Acer Inc. founder Stan Shih and MediaTek Inc. Chairman Tsai Ming-Chieh. In Taipei through June 7.
-Baltic central banks. Lithuania’s Vitas Vasiliauskas, Latvia’s Ilmars Rimsevics and Estonia’s Ardo Hansson meet in Vilnius, Lithuania, to assess inflation trends and financial security. Timing to be determined.
-Israeli markets are closed today and tomorrow for the Jewish holiday of Shavuot.
-ECONOMY: U.S. vehicle sales (May), U.S. factory orders (April), HSBC China purchasing managers’ index (PMI) (May), Japan wages (April), China non-manufacturing PMI (May), Korea inflation (May), Hong Kong retail sales (April), euro-area unemployment (April), Euro-area inflation (May), Italy unemployment (April), U.K. Nationwide house prices (May), U.K. construction PMI (May), Turkey CPI (TUCPIY) (May).
-EARNINGS: Dollar General Corp. (DG)
-National Basketball Association and Los Angeles Clippers. Donald Sterling will state his case before the NBA Board of Governors for maintaining ownership of the Clippers. Commissioner Adam Silver banned Sterling for life and is seeking the backing of 75 percent of team owners to force a sale of the franchise. Bank of America Corp. has been retained by Sterling’s wife, Shelly, to sell the team.
WEDNESDAY, JUNE 4
-G-7 leaders including PresidentObama discuss issues such as the Ukraine crisis, Iran’s nuclear program and the Middle East peace process. They’re meeting without President Vladimir Putin after boycotting a planned G-8 summit in Sochi over Russia’s annexation of Crimea. The talks start at about 20:00 CET in Brussels (14:00 EDT) and continue tomorrow, June 5.
-U.S. service industries’ expansion probably held close to an eight-month high in May, a sign the biggest part of the economy will bolster growth. The Institute for Supply Management issues its report at 10:00 in Washington.
-Fed Beige Book. The Federal Reserve releases its Beige Book business survey based on reports from its 12 regional banks. The survey will give the Federal Open Market Committee anecdotal information about the economy before a June 17-18 meeting on monetary policy. Recent data indicate the U.S. economy is rebounding from a first-quarter downturn. Survey released at 14:00 in Washington.
-Bank of Canada rate decision. The central bank will set its benchmark policy rate at 1 percent, according to the median forecast in a Bloomberg News survey of economists. Governor Stephen Poloz said on April 30 he’s “neutral” on the next move in interest rates. 10:00 in Ottawa (10:00 EDT).
-Britain’s Queen Elizabeth II announces the legislative program for the final year of Conservative Prime Minister David Cameron’s coalition government with the Liberal Democrats. She will read her speech to lawmakers from both chambers of Parliament at about 11:30 in London (06:30 EDT).
-South Korea election. Voters in South Korea head to the polls to elect municipal, provincial and metropolitan officials and lawmakers in the first electoral test for President Park Geun Hye since she took office 15 months ago. Park’s approval rating plummeted after failed rescue efforts following a ferry sinking left about 300 people dead or missing. Polls close at 18:00 (05:00 EDT).
-Mexican Oil Congress. Speakers include Petroleos Mexicanos CEO Emilio Lozoya today and Mexico Energy Minister Pedro Joaquin Coldwell tomorrow, June 5. The conference starts at 18:30 in Acapulco, Mexico (19:30 EDT). Through June 7.
-The ECB and the European Commission give their findings on Lithuania’s readiness to adopt the euro. Timing to be determined.
-The U.S. Energy Information Administration releases its weekly oil supply report. 10:30 in Washington.
-French President Francois Hollande visits Poland. Timing to be determined.
-ECONOMY: ADP U.S. employment (May), U.S. trade balance (April), Australia GDP (AUNAGDPC) (first quarter), euro-area services PMI (May, final), euro-area GDP breakdown (first quarter), euro-area producer prices (April), U.K. services PMI (May), Czech republic GDP (first quarter, preliminary), Romania GDP (ROGDPQOQ) (first quarter, preliminary), Russia CPI (RUCPIYOY) (May), Hungary GDP (HUGPTOTL) (first quarter, final).
-CENTRAL BANKS: Uganda rate decision
THURSDAY, JUNE 5
-ECB rate decision. After holding out the prospect of more monetary stimulus in May, ECB President Mario Draghi will have to decide whether low inflation and mediocre growth warrant an interest-rate cut, asset purchases or more liquidity measures. The decision is due at 13:45 CET in Frankfurt (07:45 EDT), followed by a press conference at 14:30.
-BOE rate decision. The Monetary Policy Committee will probably keep its benchmark interest rate at a record-low 0.5 percent and leave its bond-purchase program unchanged. With officials no longer bound by Governor Mark Carney’s forward guidance, the BOE said in May that a decision on when to increase rates is becoming “more balanced” for some on the committee. 12:00 in London (07:00 EDT).
-President Putin arrives in France on a two-day visit for D-Day commemorations. He’s scheduled to meet his French counterpart, Francois Hollande, on June 5. Timing to be determined.
-Energy Future’s bankruptcy loan. Energy Future Holdings Corp., the bankrupt Texas power provider, is seeking a judge’s approval to borrow $5.4 billion while it restructures $40 billion in debt in a Delaware court. The loan package is designed to pay creditors of Energy Future Intermediate Holding Co., a bankrupt subsidiary. 10:00, U.S. Bankruptcy Court, Wilmington, Delaware.
-Nigel Farage’s U.K. Independence Party is bidding to win its first ever House of Commons seat in a special election in Newark, central England, after finishing first in the European Parliament elections last month. Prime Minister David Cameron’s Conservatives are defending the seat. Voting takes place from 07:00 (02:00 EDT) to 22:00 U.K. time, with the result scheduled to be announced after about 02:00 tomorrow.
-ECB Supervisory Board Chair Daniele Nouy participates in a conference organized by the Financial Supervisory Authority in Helsinki. 09:00 local time (02:00 EDT).
-Egyptian presidential election. The official results for Egypt’s presidential race are expected to be announced by June 5. An early count shows former army chief Abdel-Fattah El-Sisi will win by a landslide.
-The Institute of International Finance’s spring meeting in London. Panelists discussing central and eastern Europe include Turkish central bank Governor Erdem Basci, Polish Finance Minister Mateusz Szczurek and Russian first deputy central bank Governor Ksenia Yudaeva. 15:30 local time (10:30 EDT).
-The Bank of Korea releases revised first-quarter GDP data after preliminary figures showed the economy growing 0.9 percent. 08:00 in Seoul (06/04 19:00 EDT).
-The U.S. Energy Information Administration releases its weekly natural gas supply report. 10:30 in Washington.
-ECONOMY: U.S. initial jobless claims (weekly), U.S. consumer comfort (weekly), Challenger U.S. job cuts (May), Colombia inflation (COCPIMOM) (May), Taiwan inflation (May), China HSBC Services PMI (EC11SERP) (May), Euro-area retail sales (April), German factory orders (April), France unemployment (first quarter), Russia gold and foreign currency reserves (weekly).
-EARNINGS: Prada SpA. (1913)
-Major League Baseball. The Houston Astros, Miami Marlins and Chicago White Sox get the first three picks of the league’s first-year player draft. In Secaucus, New Jersey. Through June 7.
-PGA Tour. Players get a final chance to qualify for the U.S. Open golf tournament by competing in the St. Jude Classic at the TPC Southwind course in Memphis, Tennessee. The purse is $5.8 million. Pairings and tee times to be determined. Through June 8.
FRIDAY, JUNE 6
-U.S. jobs report. Employers in the U.S. probably added more than 200,000 jobs in May for a fourth straight month, according to a Bloomberg survey as of May 29, highlighting further progress in the labor market. The unemployment rate probably rose to 6.4 percent from 6.3 in April, which was the lowest since September 2008. The pace of job growth is in line with Federal Reserve policy makers’ view that the employment market is improving. The Labor Department releases numbers at 08:30 in Washington.
-Hungarian Prime Minister Viktor Orban presents his new cabinet after winning re-election in April. 10:00 CET in Budapest (04:00 EDT).
-ECONOMY: U.S. consumer credit (April), Chile inflation (May), France budget and trade balance (April), U.K. trade balance (April), SNB foreign-currency reserves (May), Swiss consumer prices (May), South Africa gross and net reserves (May), Czech industrial output (April), Ukraine CPI (UACPTYOY) (May).
-SOVEREIGN RATING UPDATES: Bulgaria (Moody’s), Burkina Faso (S&P), Cameroon (Fitch), European Financial Stability Facility (Moody’s), European Stability Mechanism (Moody’s), Finland (Moody’s), Gabon (Fitch), Hungary (Fitch), Ireland (S&P), Italy (S&P), Nigeria (Moody’s), Oman (S&P), Saudi Arabia (S&P).
SATURDAY, JUNE 7
-Horse Racing: California Chrome seeks to become the first winner of thoroughbred racing’s Triple Crown since Affirmed in 1978 by adding a win at the Belmont Stakes to his victories in last month’s Kentucky Derby and Preakness Stakes. After 18:30 at Belmont Park in Elmont, New York.
-The Epsom Derby, the richest race in English horse racing with a prize fund of 1.3 million pounds ($2.2 million), takes place near London. Australia, trained by Aidan O’Brien, is the bookmakers’ favorite. 16:00 local time (11:00 EDT).
(An earlier version of this story corrected the title of Arm Holdings CEO Simon Segars.)
To contact the editors responsible for this story: Andy Davidson at email@example.com Nancy Moran, Tal Barak Harif