U.S. Jobs, Car Sales, GOP Debate, BOE, BOJ: Week Ahead Aug. 1-8

Employers in the U.S. probably added more than 200,0000 jobs in July, holding the unemployment rate at a seven-year low, data in the coming week will show.

U.S. personal spending cooled in June after posting the biggest gain in six years, a separate report may indicate. July manufacturing and services data for the world’s largest economy are also released.

Australia, Japan and the U.K. set monetary policy. The Bank of England also publishes its quarterly Inflation Report.

Greece continues to talk with creditors about the terms of a new bailout.

Ford Motor Co. and General Motors Co. are among automakers issuing U.S. sales data for July.

American International Group Inc., CVS Health Corp., Walt Disney Co. and HSBC Holdings Plc are among companies reporting earnings.

U.S. Secretary of State John Kerry travels to the Middle East and Asia, where he’ll seek to assuage concerns over the Iran nuclear accord and attend the Association of Southeast Asian Nations forum.


-Greek bailout talks. The Greek government will continue talks through the week with representatives of creditor institutions on the terms attached to a new bailout agreement, while Prime Minister Alexis Tsipras is rushing to stem a revolt from his party’s backbenchers.

-Jeb Bush, Scott Walker and Carly Fiorina are among 2016 U.S. Republican presidential candidates invited to a three-day gathering of donors hosted by Freedom Partners, the nonprofit umbrella group for the political operations of billionaires Charles and David Koch. Dana Point, Calif.

-Puerto Rico may miss a $58 million principal payment on Public Finance Corp. bonds due today because the Caribbean island’s legislature didn’t allocate the funds. The amount is among $635 million owed this month.

-The United Arab Emirates deregulates fuel prices as of today, becoming the first country in the Persian Gulf to remove transport-fuel subsidies.

-Current and former sports professionals play in the semifinals of The Basketball Tournament at Fordham University in New York for a winner-take-all $1 million prize. The finals take place on 08/02.

-Association of Southeast Asian Nations foreign ministers gather in Kuala Lumpur, Malaysia, with counterparts from countries including the U.S., China and Japan to discuss security and stability in the region. Timings to be determined.

-ECONOMY: South Korea trade (July), China manufacturing PMI (July).


-U.S. Secretary of State John Kerry begins a weeklong visit to the Middle East and Asia by meeting with officials in Cairo on shared U.S.-Egyptian interests. Timing and schedule to be determined.

-Italian Prime Minister Matteo Renzi visits Japan for talks with Prime Minister Shinzo Abe and business leaders. Timings and events to be determined. Through 08/04.


-Personal spending in the U.S. probably cooled in June after the biggest gain in almost six years. The Commerce Department data are also projected to show a gain in incomes that is helping support purchases. 08:30 in Washington.

-Manufacturing in the U.S. probably expanded in July at around the same pace as a month earlier, a report from the Institute for Supply Management is forecast to show. While resilient domestic demand is underpinning factories, weaker overseas economies are making it difficult for the industry to accelerate. 10:00 in Washington.

-Automakers report U.S. vehicle sales for July. Fiat Chrysler Automobiles NV is expected to report at about 08:30 EDT, followed by Ford Motor Co. and General Motors Co. after 09:00. While industrywide sales are estimated to be strong again in July, GM’s volumes may slip as the company reduces sales to rental-car fleets. Times vary for other carmakers.

-Federal Reserve Governor Jerome Powell speaks at a Brookings Institution discussion entitled: “Are there structural issues in U.S. bond markets?” 09:00 in Washington.

-U.S. Secretary of State John Kerry meets with Gulf Cooperation Council members in Doha, Qatar’s capital, in a bid to assuage concerns over the nuclear agreement reached with Iran last month.

-U.S. President Barack Obama addresses the second class of 500 Mandela Washington Fellows at the Young African Leaders Initiative Presidential Summit in Washington. Time to be determined.

-Voters First Republican Presidential Forum. Jeb Bush, Scott Walker and Chris Christie are among 14 Republican candidates participating in the two-hour forum. St. Anselm College in Manchester, N.H. 19:00.

-The Diggers & Dealers conference is held for three days in Kalgoorlie, Australia, with speakers including the head of exploration for Rio Tinto Plc. Timings to be determined.

-Bank of Ghana Governor Kofi Wampah speaks at the West Africa Regional Workshop on Currency Management. 08:30 in Accra (04:30 EDT).

-The U.S. Senate is scheduled to adjourn sometime this week and return after the Sept. 7 Labor Day holiday.

-The U.S. Senate Finance Committee may this week release the findings of its probe into claims of political targeting of tax-exempt groups by the Internal Revenue Service.

-U.S. government bond auctions, Fed debt purchases. Click here for schedule.

-U.S. initial public stock offerings. Click here for schedule.

-ECONOMY: Markit U.S. manufacturing PMI (July final), U.S. construction spending (June), Japan monetary base (July), S. Korea current account (June), S. Korea Nikkei manufacturing PMI (July), Caixin China PMI (July final), Turkey CPI (July), South Africa manufacturing PMI (July), South Africa new-vehicle sales (July), euro-area manufacturing PMI (July final), U.K. manufacturing PMI (July), Russia reserve and wellbeing funds (July).

-CENTRAL BANKS: Colombia Central Bank quarterly inflation report.

-EARNINGS: Clorox Co., NextEra Energy Inc., Noble Energy Inc., PPL Corp., Tyson Foods Inc., American International Group Inc., Vornado Realty Trust, General Growth Properties Inc., Allstate Corp., Loews Corp., BioMarin Pharmaceutical Inc., Greenlight Capital Re Ltd., Commerzbank AG, Heineken NV, HSBC Holdings Plc, Bank of East Asia Ltd., Hang Seng Bank Ltd.


-U.S. Secretary of State John Kerry meets in Singapore with Prime Minister Lee Hsien Loong and Foreign Minister K. Shanmugam, and delivers a speech on trade before going to Kuala Lumpur, Malaysia, for the regional forum of the Association of Southeast Asian Nations. Through 08/06.

-GOP primary-debate cutoff. Fox News, co-hosting the first Republican presidential debate of the 2016 election cycle, selects 10 candidates for the Aug. 6 prime time face-off based on their average performance in five recent national polls. Cutoff for consideration of the polls is 17:00 today. Candidates who don’t make the top 10 will be invited to participate in an earlier debate on Aug. 6.

-ECONOMY: ISM New York (July), U.S. factory orders (June), RBC Canadian manufacturing (July), Brazil industrial production (June), S. Korea consumer prices (July), Japan wages (June), S. Korea FX reserves (July), U.K. Nationwide house prices (July).

-CENTRAL BANKS: Australia rate decision.

-EARNINGS: Archer-Daniels-Midland Co., Emerson Electric Co., Charter Communications Inc., Liberty Global Plc, CVS Health Corp., Regeneron Pharmaceuticals Inc., NRG Energy Inc., Scripps Networks Interactive Inc., Aetna Inc., Kellogg Co., Sempra Energy, Walt Disney Co., Pioneer Natural Resources Co., Devon Energy Corp., First Solar Inc., Coach Inc., Activision Blizzard Inc., Axa SA, Credit Agricole SA, Bayerische Motoren Werke AG, Mediobanca SpA, Western Refining Inc., Plains All American Pipeline LP.


-U.S. Treasury releases quarterly refunding estimates, including details on three-, 10- and 30-year debt auctions. 08:30 in Washington.

-Service industries in the U.S. probably expanded in July as domestic sales help propel the businesses that make up almost 90 percent of the economy, economists project the Institute for Supply Management to report. 10:00 in Washington.

-The U.S. Energy Information Administration releases its U.S. oil inventory report. 10:30 in Washington.

-The U.S. Securities and Exchange Commission will decide whether to adopt a rule that would force publicly traded companies to publish a ratio comparing their chief executive officers’ reported pay with that of their typical worker. 10:00 in Washington.

-ECONOMY: MBA U.S. mortgage applications (weekly), ADP U.S. employment change (July), U.S. trade balance (June), Markit U.S. composite PMI (July final), Canada merchandise trade balance (June), Indonesian GDP (second quarter), S. Korea FX reserves (July), Taiwan CPI (July), South Africa business confidence index (July), Czech retail sales (June), Hungary retail sales (June), euro-area services/composite PMI (July final), U.K. services PMI (July).

-CENTRAL BANKS: Kenya rate decision, Hungary minutes, Thailand rate decision.

-EARNINGS: Time Warner Inc., Liberty Media Corp., Chesapeake Energy Corp., Cognizant Technology Solutions Corp., Intercontinental Exchange Inc., Spectra Energy Corp., HCA Holdings Inc., Motorola Solutions Inc., Priceline Group Inc., Discovery Communications Inc., Perrigo Co., Ralph Lauren Corp., Twenty-First Century Fox Inc., CBS Corp., Transocean Ltd., Keurig Green Mountain Inc., Prudential Financial Inc., CF Industries Holdings Inc., Dominion Resources Inc., Tesla Motors Inc., Dish Network Corp., ING Groep NV, UniCredit SpA, Standard Chartered Plc, Societe Generale SA, CapitaLand Ltd., Abu Dhabi National Energy Co.


-Bank of England decision and Inflation Report. The BOE announces its Monetary Policy Committee’s August interest-rate decision, together with minutes of the meeting and quarterly economic forecasts. This is the first time that the central bank has scheduled a simultaneous publication, as the information is usually published over a two-week period. With wage growth accelerating, Governor Mark Carney has said the era of record-low U.K. interest rates is coming to an end. 12:00 London (07:00 EDT).

-U.S. Secretary of State John Kerry visits Hanoi to meet with senior Vietnamese officials and to participate in an event marking the 20th anniversary of U.S.-Vietnam diplomatic relations. Through 08/08.

-Japanese Prime Minister Shinzo Abe attends a Hiroshima ceremony marking the 70th anniversary of the atomic bombing of the city. Abe and the mayor of Hiroshima will deliver speeches.

-Egyptian President Abdel-Fattah El-Sisi will inaugurate a new canal parallel to the existing Suez Canal. Timing to be determined.

-South African President Jacob Zuma responds to lawmakers’ questions in parliament. 14:00 in Cape Town (08:00 EDT).

-The U.S. Energy Information Administration releases its natural gas inventory report. 10:30 in Washington.

-Ten Republican candidates for U.S. president will take the stage in Cleveland for the first prime-time primary debate of the 2016 election cycle hosted by Fox News and Facebook Inc. Aired live from 21:00 EDT.

-Jon Stewart ends more than 16 years as host of the “The Daily Show” on Viacom Inc.’s Comedy Central. Final guests could include some of Stewart’s conservative targets, such as Donald Trump, Glenn Beck and Sarah Palin. 23:00 EDT.

-ECONOMY: U.S. jobless claims (weekly), U.S. Challenger job cuts (July), U.S. Bloomberg consumer comfort (weekly), Australian jobless rate (July), Israel foreign currency reserves (July), Ukraine CPI (July), Ukraine reserves (July), German factory orders (June), U.K. industrial production (June).

-CENTRAL BANKS: Brazil meeting minutes (July).

-EARNINGS: Mylan NV, Michael Kors Holdings Ltd., New York Times Co., Duke Energy Corp., Apache Corp., Allergan Plc, Nvidia Corp., Molson Coors Brewing Co., Manulife Financial Corp., Viacom Inc., Consolidated Edison Inc., EOG Resources Inc., Zurich Insurance Group AG, KBC Groep NV, Merck KGaA, Munich Re, Adidas AG, Deutsche Telekom AG, Novo Nordisk A/S, Rio Tinto Plc, Telecom Italia SpA, Banca Monte dei Paschi di Siena SpA, Magellan Midstream Partners LP, Marathon Oil Corp., Energy Transfer Partners LP.

-Golf. The Bridgestone Invitational, the third World Golf Championships event of the year, begins at Firestone Country club in Akron, Ohio. Tee times and pairings to be determined. Through 08/09.


-The Bank of Japan will announce monetary policy at the end of a two-day meeting in Tokyo at about midday (08/06 23:00 EDT). Governor Haruhiko Kuroda gives a press conference at 15:30.

-Employers in the U.S. probably added around 220,000 workers to their payrolls in July and the jobless rate likely held at a seven-year low of 5.3 percent, a sign of further progress in the labor market, economists forecast. Such an increase in hiring is consistent with the Federal Reserve’s perceived timetable to raise interest rates as soon as September. Wages are projected to increase from a month earlier. 08:30 in Washington.

-Baker Hughes Rig Count, for oil and gas rigs in the U.S. 13:00 EDT.

-The Commodity Futures Trading Commission publishes its weekly report on futures and options positions for oil. 15:30 EDT in Washington.

-Twenty teams from Wall Street financial firms and elsewhere participate in Midnight Madness, an all-night game on the streets of New York City, to benefit the Good Shepherd Services children’s charity.

-ECONOMY: U.S. consumer credit (June), Canada unemployment (July) Brazil IPCA inflation (July), Mexico inflation (July), Taiwan imports, exports, trade balance (July), South Africa gross and net reserves (July), Swiss unemployment (July), Swiss foreign-exchange reserves (July), German industrial production (June), French industrial production (June).

-EARNINGS: Hershey Co., Cablevision Systems Corp., JD.com Inc., Sotheby’s, Allianz SE, SunEdison Inc., Dragon Oil Plc.

-SOVEREIGN DEBT RATINGS: Abu Dhabi (S&P), Albania (Moody’s), Angola (Moody’s), Austria (Fitch), Azerbaijan (Moody’s), Germany (DBRS), Ireland (Fitch), Israel (S&P), Mozambique (S&P), Poland (S&P), Sweden (Moody’s), Turkey (Moody’s), Uganda (Fitch), Ukraine (Fitch).


-U.S. President Barack Obama departs for a scheduled two-week vacation on Martha’s Vineyard in Massachusetts.

-ECONOMY: China imports, exports, trade balance (July)

-Pro Football Hall of Fame induction. The eight-member class of 2015 includes running back Jerome Bettis; wide receiver Tim Brown; defensive end Charles Haley; guard Will Shields; center Mick Tingelhoff; and linebacker Junior Seau, who will be inducted posthumously. 19:00 in Canton, Ohio.


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