U.S. Jobs, ECB, G-20, Tennis: Week Ahead Aug. 29-Sept. 5

Updated on

American employers probably added more than 200,000 workers to payrolls in August, offering Federal Reserve policy makers their last monthly labor-market snapshot before a September decision on interest rates.

Service industries in the world’s biggest economy are forecast to expand in August near the fastest pace in a decade, while the trade deficit likely widened in July as slower global growth stymied export demand.

Canada’s economy may have fallen into a recession in the second quarter, a report on gross domestic product will show.

Automakers report U.S. vehicle sales for August.

The Jackson Hole annual economic symposium wraps up in Wyoming.

G-20 finance ministers and central bank governors meet to discuss the global economy in Ankara, Turkey.

The European Central Bank, Australia, Brazil and Sweden set monetary policy.

Russian President Vladimir Putin visits China.

Triple Crown winner American Pharoah races in the Travers Stakes and the U.S. Open tennis major begins in New York.

SATURDAY, AUG. 29

-Federal Reserve Vice Chairman Stanley Fischer, Bank of England Governor Mark Carney and European Central Bank Vice President Vitor Constancio discuss global inflation as part of a panel on the final day of the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming. 10:25 (12:25 EDT).

-European Union interior and transport ministers meet in Paris to discuss security measures after a possible terrorist attack was thwarted Aug. 21 on a Thalys high-speed train. Timing to be determined.

-American Pharoah, winner of horse racing’s Triple Crown, competes in the 146th running of the Travers Stakes. Post time 17:46, Saratoga Race Course in Saratoga Springs, New York.

-The first installment of the latest Bloomberg Politics/Des Moines Register Iowa Poll is released, showing where Democratic presidential candidates stand in the state where the first ballots of the contest will be cast early next year. 18:00 EDT. Republican standings will be released Monday at 06:00 EDT.

SUNDAY, AUG. 30

-U.S. Secretary of State John Kerry travels to Alaska to host the Conference on Global Leadership in the Arctic: Cooperation, Innovation, Engagement and Resilience. In Anchorage through 08/31.

-German Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble make public statements at the government’s open-house day. 14:30 CET (08:30 EDT).

-Puerto Rico officials are set to deliver to Governor Alejandro Garcia Padilla a debt-restructuring proposal that would help ease the island’s $72 billion debt load.

-The Barclays golf tournament concludes at Plainfield Country Club in Edison, New Jersey. Tee times and pairings to be determined.

MONDAY, AUG. 31

-Envoys from more than 190 countries gather in Bonn for a United Nations conference on global warming. The working meeting is aimed at narrowing the options available for countries expected to sign a climate deal this December in Paris. Through 09/04.

-U.S. President Barack Obama takes part in the State Department’s Conference on Global Leadership in the Arctic in Anchorage, Alaska, where he’ll highlight his administration’s climate-change agenda. He’s scheduled to spend three days in the state, including the first presidential visit above the Arctic Circle.

-Brazilian Finance Minister Joaquim Levy discusses economic policy at an event in Sao Paulo. Vice President Michel Temer is also scheduled to attend. 09:00 (08:00 EDT).

-German Chancellor Angela Merkel and Spanish Prime Minister Mariano Rajoy hold talks on migration and other European issues near Berlin. 16:30 CET (10:30 EDT).

-Clinton E-mails. The U.S. State Department is due to release the latest batch of e-mails that Democratic presidential candidate Hillary Clinton sent or received while she was secretary of state. The e-mails, which Clinton managed via a private server and later turned over to government officials, are being released under a court order prompted by a reporter’s Freedom of Information Act request.

-Tom Brady back in court. The New England Patriots quarterback and National Football League Commissioner Roger Goodell meet with a judge pushing for a settlement of litigation over Brady’s four-game suspension for using an underinflated ball in a championship game. The sides are seeking a resolution prior to the Sept. 10 start to the NFL season. 10:00 in Manhattan federal court.

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

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

-ECONOMY: ISM Milwaukee PMI (Aug.), Chicago PMI (Aug.), Dallas Fed manufacturing index (Aug.), Canada current account (second quarter), Hong Kong retail sales (July), Macau GDP (second quarter), India GDP (second quarter), Slovenia GDP (second quarter), Latvia GDP (second quarter), Denmark GDP (second quarter), euro-area flash CPI (Aug.), Turkey trade balance (July), South Africa M3 money supply (July), South Africa trade balance (July), Kenya CPI (Aug.).

-CENTRAL BANKS: Bulgaria rate decision.

-EARNINGS: Sinopec Engineering Group Co.

-The U.S. Open tennis tournament begins in Flushing, New York. A victory by top-seed Serena Williams would give her the first season Grand Slam in women’s tennis since Steffi Graf in 1988. Marin Cilic of Croatia will seek to defend his men’s singles title. Through 09/13.

TUESDAY, SEPT. 1

-China may say its official manufacturing purchasing managers’ index fell to a three-year low in August, according to a Bloomberg survey, increasing pressure on the government to take action to shore up a deepening economic slowdown and declining stock market. 09:00 in Beijing (08/31 21:00 EDT). Caixin Media and Markit Economics are scheduled announce their version of the index at 09:45 in Beijing.

-Japan’s Economy Minister Akira Amari will deliver the keynote speech at an event in Bloomberg’s Tokyo office. He will also participate in a panel discussion with Japan Post Bank Co. President Masatsugu Nagato and Japan Exchange Group Inc. Chief Executive Officer Akira Kiyota. 18:45 (05:45 EDT).

-German Finance Minister Wolfgang Schaeuble, French Finance Minister Michel Sapin, Italian Finance Minister Pier Carlo Padoan and Spanish Economy Minister Luis de Guindos speak at the European Parliament’s Special Committee on Tax Rulings in Brussels. 12:00 CET (06:00 EDT).

-German Chancellor Angela Merkel and Spanish Prime Minister Mariano Rajoy hold a joint news conference at 10:00 CET (04:00 EDT) in Berlin.

-European Central Bank Supervisory Board member Julie Dickson speaks on financial regulation. 13:00 in London (08:00 EDT).

-Automakers report U.S. vehicle sales for August. Early estimates were for an annualized selling rate of more than 17 million, keeping the industry on pace for the best year in a decade or more. Fiat Chrysler Automobiles NV usually reports about 08:30 EDT, followed by Ford Motor Co. at 9:15 and General Motors Co. about 09:30.

-Canada’s economy probably shrank at a 0.9 percent annualized pace in the second quarter, according to the median forecast of economists surveyed by Bloomberg. GDP fell at a 0.6 percent pace in the first quarter, marking the country’s first contraction in four years amid a decline in energy prices. Should the first quarter’s data not be revised, the report would show what many economists dub a technical recession, or two consecutive quarters of contraction. 08:30 in Ottawa.

-U.S. manufacturing for August is forecast to expand at about the same pace as July, when the Institute for Supply Management’s index fell to a three-month low of 52.7. 10:00 in Washington.

-Puerto Rico’s Electric Power Authority and its creditors must draft a turnaround strategy for the utility that includes a repayment plan for nearly $9 billion of debt. A forbearance agreement between the agency and its creditors will expire unless the parties agree to a debt-restructuring plan.

-Federal Reserve Bank of Boston President Eric Rosengren, who will vote on monetary policy next year, discusses the U.S. economic outlook at 13:10 in New York.

-Guatemala. A congressional commitee investigating allegations of bribery against President Otto Perez Molina must present its report to legislators today.

-ECONOMY: Markit U.S. manufacturing PMI (Aug. final), U.S. construction spending (July), RBC Canadian manufacturing PMI (Aug.), Australia current account (second quarter), euro-area manufacturing PMI (Aug., final), euro-area unemployment rate (July), German unemployment (Aug.), Italian GDP (second quarter), U.K. mortgage approvals (July), U.K. PMI manufacturing (Aug.), Turkey manufacturing PMI (Aug.).

-CENTRAL BANKS: Australia rate decision.

-EARNINGS: Dollar Tree Inc., H&R Block Inc.

WEDNESDAY, SEPT. 2

-Worker productivity in the U.S. probably expanded almost twice as much in the second quarter as initially reported after an upward revision to output. The median forecast as of Aug. 28 calls for a 2.5 percent annualized gain, up from the original

1.3 percent. The Labor Department reports final data at 08:30 in Washington.

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

-V-J Day 70th anniversary. The Friends of the National World War II Memorial and the National Park Service co-host a ceremony at the Washington memorial to commemorate the 70th anniversary of allied forces’ victory in the Pacific with the formal surrender of Japan. 10:30.

-Brazil rate decision. Policy makers may keep their key rate unchanged at 14.25 percent, after seven straight increases. Bank President Alexandre Tombini expects a strong slowdown from July’s annual inflation rate of 9.57 percent as prices respond to monetary adjustment. 19:00 (18:00 EDT) in Brasilia.

-Mexican President Enrique Pena Nieto gives his annual state of the nation address. The speech will be accompanied by progress reports from cabinet members, and precedes the presentation of next year’s budget proposal. National Palace, Mexico City. Time TBA.

-Russian President Vladimir Putin will pay an official two-day visit to China at the invitation of President Xi Jinping. Putin, who will participate in celebrations dedicated to the 70th anniversary of the end of World War II, is expected to sign more than 20 bilateral agreements with Xi, according to Russia’s Ambassador to China Andrey Denisov. Schedule and timings to be determined.

-A crew of three is scheduled to travel to the International Space Station, where they will stay for 10 days after delivering a Soyuz rocket that will allow NASA’s Scott Kelly and Russia’s Mikhail Kornienko to return to earth next year. 10:37 in Baikonur, Kazakhstan (00:37 EDT on Sept. 1)

-ECONOMY: MBA U.S. mortgage applications (weekly), ADP U.S. employment change (Aug.), U.S. factory orders (July), ISM New York (Aug.), Brazil industrial production (July), Australian GDP (second quarter), U.K. construction PMI (Aug.).

-CENTRAL BANKS: Fed Beige Book, Poland rate decision, Kazakh rate-setting meeting.

-EARNINGS: Laurentian Bank of Canada, Vivendi SA.

THURSDAY, SEPT. 3

-Sweden’s central bank may lower interest rates as a drop in commodity prices makes it even harder for policy makers to revive inflation in the largest Nordic economy. The Riksbank in July lowered its benchmark to minus 0.35 percent and extended a government bond-purchasing program to the end of the year. The bank’s decision is scheduled to be announced at 09:30 in Stockholm (3:30 EDT).

-ECB Rates. The central bank’s interest-rate decision will be announced at 13:45 CET in Frankfurt (07:45 EDT) and President Mario Draghi holds a press conference at 14:30 CET.

-German Chancellor Angela Merkel holds talks with Swiss leaders in Bern and gives a speech on Europe at the city’s university. News conference at 14:30 CET (08:30 EDT), followed by the speech at 15:00 CET.

-The U.S. trade deficit probably widened in July as a strong dollar boosted demand for imported goods and limited sales to overseas customers. The median forecast of economists as of Aug. 27 called for a widening to about $44.5 billion. The Commerce Department releases data at 08:30 in Washington.

-U.S. service providers probably expanded in August near the same pace as a month earlier, when industries that make up the largest share of the economy grew the most since August 2005. The Institute for Supply Management’s non-manufacturing index is expected to register 58.5, according to the median estimate of economists surveyed by Bloomberg as of Aug. 27, compared with July’s 60.3. A reading above 50 indicates an expansion, while below 50 shows a decline in the non-manufacturing economy. 10:00 EDT.

-Samsung Electronics Co.’s latest smartwatch. The company’s mobile division unveils its circular Gear S2 smartwatch at Berlin’s Tempodrom. 19:00 CET (13:00 EDT).

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

-China will hold a military parade at Tiananmen Square to mark the 70th anniversary of its victory over Japan in World War II. It will be the first military parade for President Xi Jinping. South Korean President Park Geun Hye and Russian President Vladimir Putin are among world leaders who will be attending, while Japanese Prime Minister Shinzo Abe declined an invitation. Timing to be determined.

-ECONOMY: Challenger U.S. job cuts (Aug.), U.S. initial jobless claims (weekly), Markit U.S. services PMI (Aug. final), Bloomberg U.S. consumer comfort (weekly), Canada trade balance (July), euro-area services PMI (Aug., final), U.K. services PMI (Aug.), Turkey CPI (Aug.), South Africa whole economy PMI (Aug.), South Africa business confidence (Aug.).

-EARNINGS: Joy Global Inc., Medtronic Plc, Campbell Soup Co., Impala Platinum Holdings Ltd.

FRIDAY, SEPT. 4

-U.S. employers probably added more than 200,000 workers in August and the jobless rate held near a seven-year low of 5.3 percent. Economists see a gain of 220,000 positions, according to the median estimate in a Bloomberg poll as of Aug. 28. Such a pace of hiring would corroborate the Fed’s view of a strengthening labor market that’s yet to spur bigger gains in wage growth. The Labor Department releases the data at 08:30 in Washington.

-G-20 finance ministers and central bank governors meet in Ankara, Turkey, to discuss global economic affairs. Officials attending include U.S. Treasury Secretary Jacob J. Lew and German Finance Minister Wolfgang Schaeuble. Through 09/05.

-Federal Reserve Bank of Richmond President Jeffrey Lacker gives a speech titled, “The Case Against Further Delay,” during a Retail Merchants Association breakfast. The remarks by Lacker, a voting member of the Federal Open Market Committee, precede the Sept. 16-17 meeting of the rate-setting panel in Washington. 08:10 in Richmond, Virginia.

-German Chancellor Angela Merkel delivers remarks in the western industrial city of Essen in support of her party’s mayoral candidate, followed by a speech at an event hosted by her Christian Democratic party in Cologne. Merkel occasionally uses local speeches to comment on Europe-wide issues. Timings to be determined.

-Italian lawmakers, executives and economists meet for the annual Ambrosetti Workshop in Cernobbio, Italy. 09:00 CET (03:00 EDT).

-ECB Governing Council member Ewald Nowotny participates in a panel discussion at Forum Alpbach, Austria. 16:00 CET (10:00 EDT).

-Baker Hughes rig count for oil and gas rigs in the U.S. 13:00 EDT.

-Walt Disney Disney Co. unveils toys linked to its new “Star Wars” movie being released in December. Promotions include a series of product unwrappings on YouTube.com, coverage on the company’s “Good Morning America” show on ABC and midnight openings of stores such as Walmart, Toys “R” Us and Target.

-ECONOMY: Canada unemployment rate (Aug.), Romania GDP (second quarter), Hungary GDP (second quarter), Slovakia GDP (second quarter), Bulgaria GDP (second quarter), Croatia GDP (second quarter), German factory orders (July), French consumer confidence (Aug.), Swiss CPI (Aug.).

-CENTRAL BANKS: Colombia monetary policy minutes.

-SOVEREIGN RATING UPDATES: Liechtenstein (S&P), Lithuania (Moody’s), Malta (Moody’s), Netherlands (DBRS), Portugal (Moody’s), Sweden (S&P).

-Golf. The PGA Tour playoffs continue with the Deutsche Bank Championship at TPC Boston. Tee times and pairings to be determined. Through 09/07.

SATURDAY, SEPT. 5

-Football. The University of Oregon, which lost to Ohio State in the final of the inaugural College Football Playoff in January, hosts Eastern Washington on the first Saturday of the season. 17:00 (20:00 EDT). Ohio State’s Buckeyes begin the defense of their national title Sept. 7 at Virginia Tech. (20:00 EDT)

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