March 3 (Bloomberg) -- The number of jobs U.S. employers added this month probably jumped from the 113,000 recorded in January, while unemployment remained at 6.6 percent, data this week may show.
The White House releases its U.S. budget plan for fiscal 2015.
U.S. Secretary of State John Kerry travels to Kiev to reaffirm support for the sovereignty of Ukraine.
The Federal Reserve publishes its Beige Book analysis of economic conditions, and U.S. data on personal spending and manufacturing will be released.
The European Central Bank and Bank of England will announce decisions on interest rates.
Carrefour SA, Costco Wholesale Corp., Deutsche Telekom AG, Glencore Xstrata Plc and Standard Chartered Plc are among companies reporting earnings.
MONDAY, MARCH 3
-U.S. personal spending probably slowed in January from a month earlier, according to a Bloomberg survey, as colder-than-average weather and snow across much of the country kept consumers at home. Consumer spending accounts for about 70 percent of the economy. The Commerce Department reports at 08:30 in Washington.
-U.S. manufacturing probably expanded at a faster pace in February, according to a Bloomberg survey, showing the industry is stabilizing. The Institute for Supply Management releases data at 10:00 in Washington.
-Puerto Rico bond legislation. Lawmakers are set to confirm a $3.5 billion bond bill that would entice investors by allowing them to sue in a U.S. court rather than the island, said General Assembly Representative Rafael Hernandez. Time to be determined.
-U.S. President Barack Obama meets Israeli Prime Minister Benjamin Netanyahu at the White House to discuss topics including Israeli-Palestinian peace talks and Iran. Time to be determined.
-UN Atomic Agency Meeting in Vienna. The International Atomic Energy Agency’s 35-member board meets March 3-7, with Iran nuclear negotiations topping the agenda. 10:00 a.m. (04:00 EST)
-International Monetary Fund Managing Director Christine Lagarde and Eurogroup Chairman Jeroen Dijsselbloem are among policy makers and executives speaking at the Global Forum Spain in Bilbao. 10:15 (04:15 EST).
-ECB President Mario Draghi speaks to the European Parliament’s Committee on Economic and Monetary Affairs. 15:00 CET in Brussels (09:00 EST).
-The U.S. Environmental Protection Agency plans to unveil final regulations to reduce smog, including cutting by two-thirds the level of sulfur in gasoline, people familiar with the agency’s deliberations said. In Washington. Time to be determined.
-Osama bin Laden’s son-in-law on trial in New York. Sulaiman Abu Ghayth is accused of participating in a conspiracy to kill Americans after the Sept. 11, 2001, attacks. He is the highest-ranking member of al-Qaeda brought to the U.S. to stand trial in a federal court, according to prosecutors. 09:30 in Manhattan.
-The IHS Energy CERAWeek conference takes place in Houston. Speakers include the leaders of Chevron Corp., BHP Billiton Ltd., Eni SpA, Valero Energy Corp. and Ben S. Bernanke, who stepped down as Federal Reserve Chairman on Jan. 31. Bernanke will address the group March 7 at 11:30 (12:30 EST). Conference runs through 03/07.
-The Palm and Lauric Oils Conference & Exhibition takes place in Malaysia. Delegates include Mohd Emir Mavani Abdullah, the chief executive officer of Felda Global Ventures Holdings Bhd, and Malaysian Plantation Industries and Commodities Minister Douglas Uggah Embas. 09:00 in Kuala Lumpur (03/02 20:00 EST). Through 03/05.
-Bank of Israel Governor Karnit Flug speaks at a conference in Tel Aviv.
-South Africa’s trial of Oscar Pistorius for the alleged murder last year of his girlfriend Reeva Steenkamp starts in Pretoria. 10:00 (03:00 EST).
-U.S. Supreme Court is in session for 2013-14 period. Click this line for the weekly schedule.
-The HSBC China Purchasing Managers’ Index (PMI) may slide further in February, signaling a continued economic contraction. A preliminary reading published Feb. 20 was for 48.3, the lowest in seven months. 09:45 Beijing time (03/02 20:45 EST).
-Japan reports fourth-quarter capital spending, which will be used to revise GDP data for the period. Japan’s economy grew an annualized 1% in the September-December period, less than half the expected expansion. 08:50 in Tokyo (03/02 18:50 EST).
-Telstra Corp. CEO business lunch. Chief Executive Officer David Thodey discusses the company’s plans at the Australia-Israel Chamber of Commerce amid changes to Australia’s telecommunications landscape. 12:30 in Sydney (03/02 20:30 EST).
-ECONOMY: U.S. vehicle sales (Feb.), U.S. personal spending (Jan.), China non-manufacturing PMI (Feb.), Hong Kong retail sales (Jan.), Australia company profits (fourth quarter), Indonesia CPI (Feb.), Portugal industrial production (Jan.), euro-area Manufacturing PMI (Feb.), Italy GDP (2013), U.K. Hometrack house prices (February), U.K. PMI manufacturing (Feb.), U.K. mortgage approvals (Jan.), Swiss PMI Manufacturing (Feb.), Turkey consumer-price inflation (Feb.).
-EARNINGS: Kuehne & Nagel International AG.
TUESDAY, MARCH 4
-Kerry in Kiev. U.S. Secretary of State John Kerry will meet with Ukrainian leaders in Kiev after Russian troops began occupying the nation’s Crimea region last week. Kerry will reaffirm U.S. support for Ukraine’s sovereignty during the visit, which comes as President Barack Obama confers with allies on how to respond to Russia’s incursion.
-U.S. budget. The White House releases President Barack Obama’s fiscal 2015 budget plan, including a $56 billion package of spending proposals for initiatives he has previously sought such as early education, job training and research funding. The plan also would shrink the Army and change how the government provides funds to help states fight wildfires in drought-stricken western states. Time to be determined.
-Fischer nomination hearing. Former Bank of Israel governor Stanley Fischer testifies before the Senate Banking Committee on his nomination to serve as Federal Reserve vice chairman. 10:00 in Washington.
-Geneva auto show. Executives gather for Europe’s second-biggest auto event of the year in Geneva, where they’ll present their latest creations and discuss the state of the region’s car market, on the rebound after six years of declines. Press days today and tomorrow. Open to the public 03/06-03/16.
-Texas primary elections. Voters will choose their nominees for governor, the U.S. Senate, the U.S. House of Representatives and local offices. Candidates leading in the polls for governor are Democrat Wendy Davis, a state senator, and Republican Greg Abbott, the Texas attorney general. Tea Party activists are seeking to oust U.S. Senator John Cornyn. Polls close at 19:00.
-Officials from South Korea, China and Japan meet in Seoul to begin a fourth round of trade talks. If an agreement is reached, it could create a market of 1.5 billion people and one of the world’s biggest free-trade blocs. 09:00 in Seoul (03/03 19:00 EST). Through 03/07.
-Former Federal Reserve Chairman Ben S. Bernanke, former U.S. Treasury Secretary Lawrence Summers and South Korea’s central bank Governor Kim Choong Soo speak at the Global Financial Markets Forum in Abu Dhabi. Through 03/05.
-The Reserve Bank of Australia is forecast to keep its benchmark interest rate at a record-low 2.5 percent, according to all economists surveyed by Bloomberg News, as it weighs a slump in mining investment against a recovery in housing. 14:30 in Sydney. (03/03 22:30 EST).
-The Australian Bureau of Agricultural and Resource Economics and Sciences holds its outlook conference, providing its first forecasts for production and exports in 2014-2015. Speakers include Agriculture Minister Barnaby Joyce. 09:00 in Canberra (03/03 17:00 EST). Through 03/05.
-Saudi Arabia’s Minister of Petroleum & Mineral Resources Ali Al-Naimi will attend the Saudi Downstream conference. 09:00 in Yanbu, Saudi Arabia (01:00 EST). Through 03/05.
-ECONOMY: South Korea inflation data (Feb.), Japan monetary base (Feb.), Japan wages (Jan.), Australia current account (4Q), Australia building approvals (Jan.), euro-area PPI (Jan.), Spain unemployment (Feb.), U.K. PMI construction (Feb.).
-CENTRAL BANKS: Kenya rate decision.
-EARNINGS: Bank of Nova Scotia, RWE AG, Glencore Xstrata Plc, Genmab A/S, Beiersdorf AG.
WEDNESDAY, MARCH 5
-U.S. service industries expanded in February at about the same pace as January, when activity increased more than forecast, according to a Bloomberg survey. Services account for about 90 percent of the economy. The Institute for Supply Management reports at 10:00 in Washington.
-Fed Beige Book. The Federal Reserve releases its analysis of economic conditions in the 12 districts of the Fed system, two weeks before a March 18-19 meeting of the Federal Open Market Committee. Since meeting in January, policy makers including Fed Chair Janet Yellen have affirmed their plan to continue tapering monthly bond purchases even amid signs of softness in retailing, manufacturing and home construction. 14:00 in Washington.
-Bank of Canada rate decision. Governor Stephen Poloz probably won’t alter his neutral stance toward monetary policy, although he said this month he’s encouraged by data on inflation and business creation. Poloz will keep the benchmark interest rate at 1 percent at least through June, according to a Bloomberg survey. 10:00 in Ottawa.
-Lew, Hagel testify on 2015 U.S. budget. Treasury Secretary Jacob J. Lew appears at 10:30 before the Senate Finance Committee. U.S. Defense Secretary Chuck Hagel testifies before the Senate Armed Services Committee at 09:30 today and the House Armed Services Committee tomorrow at 10:00, March 6. In Washington.
-U.S. Supreme Court hears arguments on securities lawsuits. The nation’s highest court hears a case that might make it harder for shareholders to file class-action suits. Halliburton Co. says the premise that a company’s misrepresentations are reflected in its stock price is flawed. Halliburton is asking the Supreme Court to reverse a decision it made in 1988. 10:00 in Washington.
-U.S. Secretary of State John Kerry joins other foreign ministers in Paris to discuss Lebanon, which is struggling with an influx of refugees from the Syrian civil war. On March 6, Kerry attends a ministerial conference in Rome on Libya’s transition to democracy. Kerry will discuss Ukraine and other issues with Russian Foreign Minister Sergei Lavrov during his visit.
-German Chancellor Angela Merkel speaks at a carnival-themed event of her Christian Democratic Union party near her eastern German electoral district. Demmin, Germany. 18:00 (12:00 EST).
-The ITB Berlin travel trade show starts. Through 03/09.
-Australia will report gross domestic product data for the fourth quarter, after the economy expanded more slowly than economists forecast in the prior three months. 11:30 in Sydney (03/04 19:30 EST).
-Qantas Airways Ltd. Chief Executive Officer Alan Joyce speaks about the challenges and opportunities facing Australia’s national carrier during a lunch at the Australia-Israel Chamber of Commerce. 12:30 in Sydney (03/04 20:30 EST).
-China’s legislature, the National People’s Congress, begins its annual meeting, which runs for about two weeks. Premier Li Keqiang will present a report on government progress and plans. There will also be reports on the budget and from the National Development and Reform Commission.
-ECONOMY: ADP U.S. employment (Feb.), China HSBC Services PMI (Feb.), Taiwan inflation (Feb.), euro-area services PMI (Feb.), euro-area retail sales (Jan.), euro-area GDP (fourth quarter), U.K. PMI services (Feb.).
-EARNINGS: Standard Chartered Plc, Carrefour SA, Adidas AG.
THURSDAY, MARCH 6
-Bank of England rate decision. The BOE’s forward guidance means policy makers won’t consider raising the key interest rate from the current record low of 0.5 percent at least until unemployment falls to 7 percent. The most recent jobless rate was 7.2 percent. 12:00 in London (07:00 EST).
-European Central Bank rate decision. ECB President Mario Draghi said Feb. 6 that officials needed more information to assess the “complex picture” of the euro-area economy. The central bank left its benchmark interest rate at a record-low 0.25 percent at that meeting. Policy makers will now have to decide whether more stimulus is needed to sustain the fragile recovery and prevent deflation risks from materializing. 13:45 CET in Frankfurt (07:45 EST), followed by Draghi press conference at 14:30 CET.
-Federal Reserve Bank of New York President William C. Dudley will be interviewed by the Wall Street Journal before taking audience questions. 08:15 in New York.
-Conservative Political Action Conference. Republican activists gather for CPAC’s annual meeting in Oxon Hill, Maryland. New Jersey Governor Chris Christie is tentatively scheduled to speak at 11:00. Other confirmed speakers during the three-day event include Senator Ted Cruz of Texas, Representative Paul Ryan of Wisconsin, Louisiana Governor Bobby Jindal, Senator Marco Rubio of Florida, Texas Governor Rick Perry and Senator Rand Paul of Kentucky. Through 3/8.
-The Food and Agriculture Organization of the United Nations publishes its food-price index. World food prices probably rose in February as sugar and dairy costs climbed. 09:00 in London. (04:00 EST).
-The Marine Money International Gulf Ship Finance Forum takes place in Dubai. 10:00 (01:00 EST).
-Brazil’s central bank publishes minutes of its Feb. 25-26 meeting. The release may provide insight into the recent decision to raise interest rates as well as an indication of the direction of monetary policy this year. 08:30 in Brasilia (06:30 EST).
-ECONOMY: U.S. initial jobless claims (weekly), Challenger U.S. job cuts (Feb.), U.S. factory orders (Jan.), Bloomberg consumer comfort (weekly), Australia trade (Jan.), German factory orders (Jan.).
-CENTRAL BANKS: Malaysia rate decision
-EARNINGS: Costco Wholesale Corp., Staples Inc., H&R Block Inc., Wing Hang Bank Ltd., Deutsche Telekom AG, Orange SA, Telecom Italia SpA, Merck KGaA, Aviva Plc, Continental AG.
FRIDAY, MARCH 7
-U.S. jobs report. The number of jobs employers added this month probably jumped from 113,000 in January as unemployment remained at 6.6 percent, the lowest level since October 2008 and an indication the labor market is starting to rebound after two months of weakness. Even with the projected gain in payrolls, job growth in the last three months was the least since 2012. 08:30 in Washington.
-Federal Reserve Bank of New York President William C. Dudley speaks on the U.S. economy at Brooklyn College. 12:00 in Brooklyn.
-The Swiss National Bank publishes its 2013 annual results. 07:30 CET in Zurich (01:30 EST).
-ECONOMY: U.S. trade balance (Jan.), U.S. consumer credit (Jan.), Canada jobs report (Feb.), Mexico inflation (Feb.), Taiwan trade (Feb.), German industrial production (Jan.), Italy Producer Prices (Jan.), France budget balance (Jan.), Swiss Unemployment Rate (Feb.), Swiss Foreign Currency Reserves (Feb.), Swiss CPI (Feb.), South Africa gross reserves (Feb.).
-CENTRAL BANKS: RBA Governor Glenn Stevens meets with the House Economics Committee.
-EARNINGS: Enel Green Power SpA.
-SOVEREIGN RATING UPDATES: Belgium (Moody’s), European Stability Mechanism (Fitch), Gabon (S&P), Hungary (Moody’s), Liechtenstein (S&P), Netherlands (Moody’s), Romania (Fitch), Saudi Arabia (Fitch).
-College Basketball: Yale University (8-2 Ivy League Conference) plays Harvard (9-1) in their next-to-last regular season game, which may determine the Ivy League champion. Yale’s overall season record is 14-10 and Harvard’s is 22-4. 19:30 in New Haven.
SATURDAY, MARCH 8
-China’s General Administration of Customs announces trade data for February. China’s export and import growth unexpectedly accelerated in January, defying signs the economy will slow, while fueling speculation that fake shipments are resurfacing. 10:00 in Beijing (03/07 21:00 EST).
-The Lebanon Economic Forum takes place in Beirut with ministers, officials and business leaders from the Middle East expected to attend.
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-Editors: Nancy Moran, Andy Davidson
To contact the reporters on this story: Greg Miles in New York at +1-212-617-5877 or firstname.lastname@example.org James Amott in London at +44-20-3216-4206 or email@example.com Koh Keat Kian in Singapore at +65-6212-1580 or firstname.lastname@example.org