U.S. Jobs, Australia Votes, Wimbledon: Week Ahead July 2-9

  • U.K. conservatives hold poll; Allen & Co. hosts ‘mogul’ camp
  • NATO summit in Warsaw; Pepsico, WD-40, Samsung report earnings

U.S. payrolls probably expanded by 180,000 jobs in June after the weakest advance in almost six years, boosted by the return of 35,000 striking Verizon Communications Inc. workers and consistent with moderating job growth, economists project the Labor Department to report this coming week.

U.S. President Barack Obama will attend the NATO Summit in Warsaw and he’ll travel to Poland and Spain. Argentina’s President Mauricio Macri travels to Belgium and Germany to meet with government leaders.

Allen & Co. hosts its annual conference in Sun Valley, Idaho, with invitations to leaders in media, finance, politics and technology. Corporate and government leaders gather in Aix-en-Provence, France, to discuss the nation’s future.

The U.K.’s ruling Conservative Party narrows the field of successors to Prime Minister David Cameron. Australia votes with Malcolm Turnbull’s ruling coalition leading in polls.

The Wimbledon tennis tournament enters its final week in London and soccer’s European Championships reach the quarterfinal and semifinal rounds. The Tour de France continues.

The U.S. celebrates Independence Day.

Saturday, July 2

-French ministers, executives and economists gather in Aix-en-Provence for an annual economic conference. Attendees include International Monetary Fund Managing Director Christine Lagarde and French Economy Minister Emmanuel Macron. Through July 3.

-Australians vote as Prime Minister Malcolm Turnbull seeks a second term for the Liberal-National coalition government. The eight-week campaign focused on which party is best-placed to steer the economy through a fading mining investment boom and tackle a deterioration in public finances. Polls open at 08:00 Sydney time (July 1/18:00 EDT) and close at 18:00 (04:00 EDT).

-Greek Prime Minister Alexis Tsipras begins a visit to China, accompanied by a delegation of business leaders and government ministers. Stops include Beijing and Shanghai. Through July 6.

-The Tour de France, cycling’s most prestigious event, continues as cyclists visit three countries and cover 3,519 kilometers (2,187 miles). Click here for the route. Race ends July 24 in Paris.

-Wimbledon, the third tennis Grand Slam major of the year and the only one played on grass, continues in London. Novak Djokovic and Serena Williams are seeking to defend their titles. Through July 10. Click here for the schedule.

-Soccer’s 2016 European Championships reach the quarter- and semi-final matches. Click here for the finals schedule.

-The World Golf Championships-Bridgestone Invitational continues in Akron, Ohio, for a $9,500,000 purse. Tee times, pairings to be determined. Through July 3.

Sunday, July 3

-ECONOMY: Israel foreign currency balance (June).

-COMPANIES: Tesla Motors Inc. sales (second quarter)

Monday, July 4

-Argentina President Mauricio Macri meets with European Union President Donald Tusk in Brussels. Timing to be determined.

4th of July Festivities Outside White House
4th of July Festivities Outside White House
Source: White House Website

-Independence Day. The U.S. celebrates its July 4 holiday, commemorating its declaration of independence from Great Britain. Stock and bond markets are closed, along with government offices.

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

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

-CENTRAL BANKS: Bank of Japan releases company inflation outlook from the Tankan survey.

-ECONOMY: U.K. Lloyds Bank Business Barometer (June), Bank of Canada business outlook survey, Japan monetary base (June), Turkey CPI (June), South Africa non-farm payrolls (first quarter), Georgia CPI (June).

-ENERGY/COMMODITIES: U.S. Department of Agriculture crops data (weekly), ICE weekly commitments of traders report for Brent, gasoil.

Tuesday, July 5

-Argentina President Mauricio Macri meets with German Chancellor Angela Merkel in Berlin. Timing to be determined.

-U.K. Conservative Party lawmakers begin balloting to elect a successor to David Cameron as party leader and prime minister. The lowest-ranked candidate will be eliminated after the first round, with a second vote set for July 7. Home Secretary Theresa May and Justice Secretary Michael Gove are the leading contenders. Timing in London to be determined.

-Bank of England Financial Stability Report. Governor Mark Carney holds a news conference on publication of the semi-annual report. Questions probably will focus on Brexit after officials highlighted it as the biggest domestic risk to financial stability. Report is published at 10:30 (05:30 EDT), news conference 30 minutes later.

-Bank of England holds its first regular Indexed Long-Term Repo operation since the U.K. voted to leave the European Union. The BOE allotted about 9.2 billion pounds in June when it held four auctions instead of the usual one to cope with any Brexit stress in markets. Results due about 10:40 in London (05:40 EDT).

-German Chancellor Angela Merkel delivers remarks at a 35-nation conference on climate change at 10:30 in Berlin (04:30 EDT), followed by news conference at 13:00 (07:00 EDT).

-Allen & Co. hosts top executives in media, finance, politics and technology at a conference in Sun Valley, Idaho. Dubbed “mogul summer camp,” this year’s invitees include Apple Inc.’s Tim Cook, Facebook Inc.’s Mark Zuckerberg and Walt Disney Inc.’s Bob Iger, all frequent attendees of the event. Sparks may fly this year as Viacom Inc. rivals Shari Redstone and Philippe Dauman are both on the guest list. Through July 9.

-U.S. President Barack Obama campaigns with presumptive Democratic presidential nominee Hillary Clinton for the first time. Timing to be determined; in Charlotte, North Carolina.

-The Boao Forum for Asia Financial Cooperation Conference is held in Hong Kong. Former People’s Bank of China Vice Governor Wu Xiaoling and Asian Infrastructure Investment Bank President Jin Liqun will be among the speakers who will discuss the role of finance in stimulating growth in the real economy. 08:30 in Hong Kong (July 4/20:30 EDT).

-CENTRAL BANKS: Australia rate decision.

-ECONOMY: U.S. ISM New York purchasing managers index (June), U.S. factory orders (May), U.K. services PMI (June); euro-area services PMI (June - final), Colombia inflation (June), Taiwan inflation (June), China Caixin services PMI (June), Philippines CPI (June), South Africa whole economy payroll employment PMI (first quarter), Russia PMI (June), Russia CPI (June).

-ENERGY/COMMODITIES: American Petroleum Institute inventory report (weekly), USDA grain-exports, livestock, crop ratings (weekly).

Wednesday, July 6

-U.S. Federal Reserve Bank releases the minutes from the June 14-15 Federal Open Market Committee meeting at 14:00 EDT. Follow the TOPLive blog for real-time coverage here.

-Growth at U.S. service producers probably picked up in June from the slowest pace in more than two years, economists forecast an index from the Institute for Supply Management to show. 10:00 EDT in Washington.

-European Central Bank Governing Council member and Bank of France Governor Francois Villeroy de Galhau gives a keynote address at the Paris Europlace conference at 09:00 in Paris (03:00 EDT). Click here for agenda.

-Inquiry published into the U.K.’s role in the 2003 Iraq invasion. It will be scrutinized for criticism of former Labour Prime Minister Tony Blair’s decision to endorse military action on the basis of flawed evidence that Iraqi leader Saddam Hussein was ready to order the use of weapons of mass destruction at short notice. Timing in London to be determined.

-German Chancellor Angela Merkel addresses a rural women’s conference in the eastern city of Erfurt at 14:00 CET (08:00 EDT).

-Greek privatization fund’s deadline for the submission of bids for the sale of 100 percent stake in the country’s railroad system.

-Russian Deputy Prime Minister Dmitry Rogozin speaks in the State Duma at noon in Moscow (05:00 EDT).

-CENTRAL BANKS: Sweden interest rate decision, Poland base rate decision.

-ECONOMY: U.S. MBA mortgage applications (weekly), U.S. trade deficit (May), U.S. Markit services PMI (June final), Russia weekly CPI (weekly), Hong Kong Nikkei PMI (June), South Africa business confidence (June), German factory orders (May), Spanish industrial output (May), Russia weekly CPI (July 4).

-EARNINGS: Walgreens Boots Alliance Inc., Cogeco Communications Inc.

-ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on natural gas volume (weekly).

Thursday, July 7

-U.S. President Barack Obama travels to Warsaw to attend the 2016 NATO summit. Obama also will meet with the President of Poland, Andrzej Duda, and the presidents of the European Council and the European Commission. Through July 9

-U.S. National Center for Environmental Information reports temperature and precipitation data for the six months ended in June, including records for heat, cold and drought. Expected about 09:00 EDT.

-Dutch parliament debates euro-area challenges at 09:30 in The Hague (03:30 EDT) ahead of regional finance chiefs’ next meeting. Dutch Finance Minister Jeroen Dijsselbloem, who chairs the meetings, will take part in the debate.

-Portuguese Prime Minister Antonio Costa speaks at the State of the Nation debate in parliament. 15:00 in Lisbon (09:00 EDT).

-Bank of Japan Governor Haruhiko Kuroda speaks at the quarterly meeting of the central bank’s branch managers. Around 09:00 in Tokyo (July 6/20:00 EDT).

-CENTRAL BANKS: Serbia interest-rate decision.

-ECONOMY: U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly), U.S. Challenger job-cut announcements (June), U.S. ADP private employment (June), U.K. Halifax house prices (June); U.K. industrial production (May); German industrial production (May), Mexico inflation (June), China foreign reserves (June), Hong Kong foreign reserves (June), South Africa gross and net reserves (June), Hungary industrial production (May), Hungary budget (June).

-EARNINGS: Pepsico Inc., WD-40 Co., Samsung Electronics Co., Sports Direct International Plc.

-ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on U.S. natural gas prices (weekly), U.S. Energy Information Administration natural gas inventory report (weekly), U.S. EIA weekly Petroleum Status Report. Follow the TOPLive blog for real-time coverage here, UN Food & Agriculture Organization food price index.

Friday, July 8

-U.S. employment probably accelerated in June after last month’s smallest gain since September 2010, helped by the return of striking Verizon workers and consistent with a more moderate pace of hiring. The Labor Department’s figures also are projected to show worker pay picked up from June 2015. 08:30 EDT in Washington. Follow the TOPLive blog for real-time coverage here.

-North Atlantic Treaty Organization (NATO) national leaders begin a two-day summit in Warsaw focused on strengthening the alliance’s presence in Eastern Europe and the fallout from the U.K.’s decision to leave the European Union. Participants include President Barack Obama, German Chancellor Angela Merkel, U.K. Prime Minister David Cameron, Canadian Prime Minister Justin Trudeau and probably Turkish Prime Minister Recep Tayyip Erdogan. Through July 9.

-CENTRAL BANKS: Turkey effective exchange rate.

-ECONOMY: U.S. consumer credit (May), U.K. trade balance (May), unit labor costs (first quarter), U.K. GfK consumer confidence (post-Brexit survey), French industrial production (May), Brazil IPCA inflation (June), Chile inflation (June), Taiwan trade balance (June), China foreign direct investment (June) anytime July 8-12, Japan current account (May), Japan wages (May), Romania GDP (first quarter, final), Hungary CPI (June), Czech industrial output (May), Ukraine CPI (June).

-ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly), U.S. CFTC futures and options positions for oil and commitments of traders reports (weekly).

-SOVEREIGN RATING UPDATES: Ethiopia (Moody’s), European Union (Moody’s), Germany (S&P), Hungary (Moody’s), Malta (S&P), Netherlands (Moody’s), Switzerland (Moody’s), Uganda (S&P), U.K. (DBRS).

Saturday, July 9

-U.S. President Barack Obama visits Spain to meet with King Felipe VI and government leaders to discuss security cooperation and the economic relationship between the U.S. and Spain. Through July 11.

-The Group of 20 Trade Ministers meeting is held in Shanghai. Through July 10.

-Canadian Prime Minister Justin Trudeau makes an official visit to Ukraine to deepen commercial ties between the two countries. Through July 12.

-Russian Economy Minister Alexei Ulyukayev visits Beijing for the G-20 Trade Minister meeting.

(Added Tesla Motors Inc. sales release to Sunday, July 3)

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