Obama, UN, U.S. Home Sales, IPOs, Nike: Week Ahead Sept. 22-27
Sept. 22 (Bloomberg) -- U.S. sales of previously owned and new homes probably climbed in August as the market strengthened, data this week will show.
U.S. President Barack Obama begins a three-day visit to New York, where his engagements include an address to the United Nations General Assembly.
Citizens Financial Group Inc., the U.S. unit of Royal Bank of Scotland Group Plc, prices its shares in the the largest initial offering of an American bank since Goldman Sachs Group Inc. went public in 1999.
Accenture Plc, Hennes & Mauritz AB and Nike Inc. are among companies releasing earnings.
MONDAY, SEPT. 22
-U.S. sales of previously owned homes, also called existing home sales, probably increased for a fifth straight month in August, according to a Bloomberg survey, underscoring a gradual improvement in the market. The National Association of Realtors’ report is due at 10:00 in Washington.
-Bloomberg Markets Most Influential Summit. Speakers include: William Dudley, president, Federal Reserve Bank of New York; Ray Dalio, founder, Bridgewater Associates; Jason Furman, chairman, Council of Economic Advisers; Jack Bogle, founder, Vanguard Group Inc.; Benjamin Lawsky, superintendent, New York State Department of Financial Services. Click here for full agenda. 08:30, Museum of Jewish Heritage, New York.
-ECB President Mario Draghi speaks before the European Parliament’s economic and monetary committee in Brussels. 15:00 CET (09:00 EDT).
-German Chancellor Angela Merkel and French Prime Minister Manuel Valls hold talks during Valls’s first official trip to Berlin since taking office. Starts at 12:00 CET (06:00 EDT), with a joint news conference at about 13:15 CET.
-U.K. opposition finance spokesman Ed Balls may give details of the Labour Party’s economic and spending proposals for the 2015 election when he addresses its annual conference in the late morning. In Manchester.
-The United Nations nuclear agency starts its five-day annual conference in Vienna. Topics discussed will include Iran’s nuclear program, the aftermath of Japan’s Fukushima disaster and the prospects for nuclear energy.
-Clinton Global Initiative continues in New York. Click here for schedule and speakers. Through Sept. 24
-Palestinian President Mahmoud Abbas speaks about a future Palestinian state and peace between Israelis and Palestinians. 18:00, Cooper Union, New York.
-Federal Deposit Insurance Corp. Chairman Martin Gruenberg and Comptroller of the Currency Thomas Curry discuss trends in bank regulation at the American Banker Regulatory Symposium. 08:00 in Arlington, Virginia. FDIC Vice Chairman Thomas Hoenig addresses the conference at 08:15 on Sept. 23.
-Bank of Canada Senior Deputy Governor Carolyn Wilkins speaks at the CFA Society. 12:25 EDT in Toronto.
-Bloomberg Latin America Forum. Leaders of the Pacific Alliance, the presidents of Chile, Colombia, Mexico and Peru, discuss the outlook for their countries. Panel discussion starts at 15:00, Bloomberg headquarters, New York.
-Metal Bulletin Events’ 29th International Aluminium Conference takes place in Abu Dhabi. Delegates include Oleg Mukhamedshin, deputy chief executive officer of United Co. Rusal. 13:00 in Abu Dhabi (05:00 EDT). Through Sept. 24.
-The European Commission publishes its latest agriculture forecast. 12:00 CET in Brussels (06:00 EDT).
-U.S. government bond auctions, Fed debt purchases. Click here for weekly schedule
-ECONOMY: Chicago National Activity Index (Aug), Taiwan unemployment (Aug.), Taiwan export orders (Aug.), Hong Kong inflation (Aug.), Italy industrial sales (July), Dutch house prices (Aug.), Greek current account (July), euro-area consumer confidence (Sept.), Hungary economic and business sentiment (Sept.), Lithuania industrial production (Aug.), Israel unemployment rate (Aug.), Morocco CPI (Aug.).
-CENTRAL BANKS: Israel rate decision.
TUESDAY, SEPT. 23
-HSBC and Markit announce a preliminary reading of their China manufacturing purchasing managers’ index for September. The gauge fell to 50.2 in August, suggesting the world’s second-biggest economy is losing momentum. 09:45 in Beijing (09/22 21:45 EDT).
-U.S. President Obama begins a three-day visit to New York, where he’ll participate in the United Nations Climate Summit, followed by an afternoon speech at the Clinton Global Initiative. On Sept. 24, the president addresses the UN General Assembly at about 10:00, and will lead a Security Council meeting on terrorists emerging from conflicts at 15:00. On the morning of Sept. 25, he will hold one-on-one meetings with world leaders before returning to Washington.
-United Nations Climate Summit. UN Secretary-General Ban Ki-moon hosts international leaders from government, finance and business to build support for a global pact on cutting greenhouse gases. Chinese President Xi Jinping and Indian Prime Minister Narendra Modi, whose nations are among the biggest emitters of carbon gases, aren’t attending. Starts at 08:00, followed by a late-morning press conference. In New York.
-Global Counterterrorism Forum. U.S. Secretary of State John Kerry and Turkish Foreign Minister Ahmet Davutoglu host a conference aimed at producing guidelines for implementing sanctions against Islamic State and combating extremism. In New York.
-Citizens Financial Group Inc. U.S. IPO. The U.S. unit of Royal Bank of Scotland Group Plc prices its shares and seeks to raise as much as $3.5 billion in the largest initial offering of a U.S. bank since Goldman Sachs Group Inc. went public in 1999. RBS is offering about 25 percent of the unit, which is valued at up to $14 billion, data compiled by Bloomberg show. Citizens will list its shares on the New York Stock Exchange under the symbol CFG and begin trading Sept. 24.
-German Chancellor Merkel and Greek Prime Minister Antonis Samaras meet to discuss the Greek economy and European policy. Starts 12:30 CET (06:30 EDT) in Berlin with a joint news conference at 13:30 CET.
-French Prime Minister Valls gives a speech on economic policy at a conference of Germany’s BDI business lobby. 11:30 CET (05:30 EDT). He then goes to Stuttgart to meet Baden-Wuerttemberg State Premier Winfried Kretschmann at 14:30 CET.
-The Scottish Parliament is due to hold its first meeting since the independence referendum at 14:00 in Edinburgh (09:00 EDT).
-U.K. opposition leader Miliband gives the keynote speech at the Labour Party’s annual conference at 14:15 (09:15 EDT) in Manchester.
-Osama bin Laden’s son-in-law Sulaiman Abu Ghayth is sentenced for conspiring to kill Americans and helping attract recruits to al-Qaeda after the Sept. 11, 2001, terrorist attacks. Abu Ghayth, the most senior al-Qaeda member to be tried in a U.S. civilian court, was convicted in March. 09:30, federal court, New York.
-The Australian government’s weather forecaster publishes its latest predictions for El Nino. From 14:00 in Melbourne (00:00 EDT).
-ECONOMY: Taiwan industrial production (Aug.), South Africa leading indicator (July), Kenya M3 money supply (Aug.), French GDP (second quarter), French business confidence (Sept.), Markit PMI for German manufacturing (Sept.), euro-area manufacturing and services PMIs (Sept.), U.K. public finances (Aug.), Poland retail sales (Aug.), Poland unemployment rate (Aug.), Latvia GDP (second quarter).
-CENTRAL BANKS: Hungary rate decision, Morocco rate decision.
-EARNINGS: Bed Bath & Beyond Inc., Esprit Holdings Ltd.
WEDNESDAY, SEPT. 24
-U.S. new-home sales probably climbed in August as the job market strengthened and buyers took advantage of cheaper borrowing costs, according to a Bloomberg survey. The Commerce Department will issue the figures at 10:00 in Washington.
-United Nations 69th General Assembly. Speakers address the body today through Sept. 30 and include U.S. President Obama, Iranian President Hassan Rouhani, Iraqi President Fouad Masoum, U.K. Prime Minister David Cameron, Egyptian President Abdel-Fattah El-Sisi, French President Francois Hollande, Argentinian President Cristina Fernandez de Kirchner, and Japanese Prime Minister Shinzo Abe. Starts at 09:00 in New York.
-Travelport Worldwide Ltd. U.S. IPO. The travel-booking platform bought by Blackstone Group LP eight years ago is seeking $480 million in an initial public offering. At the high end of the range, Travelport is valued at $1.92 billion. The company plans to list its shares on the New York Stock Exchange under the symbol TVPT and start trading Sept. 25.
-French President Hollande holds a news conference at 16:30 EDT during his visit to the UN General Assembly in New York.
-Australia’s Bureau of Resources and Energy Economics issues its latest forecasts for prices and exports of iron ore, nickel and gold. 09:30 in Canberra (09/23 19:30 EDT).
-David Thomas, global head of LNG at Vitol SA, Seah Moon Ming, chief executive officer at Pavilion Energy Pte, and Jonty Shephard, chief operating officer of LNG at BP Plc, are among delegates scheduled to attend the CWC LNG conference in Singapore. 08:30 (09/23 20:30 EDT). Through Sept. 25.
-Hungarian lawmakers vote on a bill setting out how banks must compensate borrowers for unfair charges on mortgages and consumer loans.
-Portuguese government’s year-to-date budget report. Time to be determined.
-The 4th LNG Shipping Forum takes place in London. 09:15 (04:15 EDT). Through Sept. 25.
-ECONOMY: Argentina GDP (second quarter), Mexico bi-weekly inflation, Italy consumer confidence (Sept.), Dutch producer confidence index (Sept.), Dutch GDP (second quarter), Swiss UBS Consumption Indicator (Aug.), French jobless claims (Aug.), IFO business climate index for Germany (Sept.), Czech consumer and business confidence (Sept.), Turkey capacity utilization (Sept.).
-CENTRAL BANKS: Australia Financial Stability Review, Georgia rate decision.
-EARNINGS: Accenture Plc.
THURSDAY, SEPT. 25
-Orders for U.S. durable goods probably slumped in August after surging in July due a record number of aircraft orders at Boeing Co. Orders excluding planes and military hardware, a proxy of future business investment, probably rose in August. The Commerce Department releases the data at 08:30 in Washington.
-European central bankers attend a conference on the euro’s future in Vilnius from 10:00 local time (03:00 EDT). Speakers include ECB President Draghi, Lithuanian central bank Governor Vitas Vasiliauskas and European Economic and Monetary Affairs Commissioner Jyrki Katainen.
-G-7. German Foreign Minister Frank-Walter Steinmeier holds a press conference as chairman of the Group of Seven after a meeting with its foreign ministers and Middle Eastern counterparts. Press conference at 16:00 in New York.
-UN Ebola meeting. United Nations Secretary-General Ban Ki-moon chairs a special meeting of leaders on the Ebola outbreak in West Africa on the sidelines of the General Assembly. In New York. Time to be determined.
-Indonesia’s parliament will vote on a bill that may lead to the end of direct elections for local officials. While incoming President Joko Widodo opposes the measure and polls show most Indonesians agree, the coalition that lost the July presidential election could push the bill through. Timing to be determined.
-The International Grains Council publishes its monthly crop report. Global corn production may be larger than forecast last month because of a record U.S. harvest. 15:00 in London (10:00 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), Bloomberg U.S. consumer comfort (weekly), Brazil unemployment (August), Hong Kong exports (Aug.), South Africa PPI (Aug.), Italy retail sales (July), Turkey foreign tourism arrivals (Aug.).
-CENTRAL BANKS: Czech rate decision, Turkey rate decision.
-EARNINGS: Nike Inc., Hennes & Mauritz AB.
FRIDAY, SEPT. 26
-The U.S. economy probably expanded in the second quarter at the fastest pace since the third quarter of 2013, according to a Bloomberg survey. The Commerce Department’s third estimate of gross domestic product is projected to show an upward revision of the pace of growth. The government previously estimated GDP rose at a 4.2 percent pace. 08:30 in Washington.
-Japan reports August national inflation and Tokyo September prices. Stripped of the effects of April’s sales-tax increase, the core inflation rate was unchanged at 1.3 percent in July. 08:30 in Tokyo (09/25 19:30 EDT).
-The Spanish government presents the first draft of its 2015 budget at a news conference at about 13:30 CET in Madrid (07:30 EDT).
-The European Society for Medical Oncology conference begins in Madrid. Roche Holding AG, Novartis AG, Merck & Co., GlaxoSmithKline Plc and other companies will present data from clinical trials of experimental cancer compounds. Through Sept. 30.
-U.K. Independence Party leader Nigel Farage addresses the anti-European Union group’s annual conference in Doncaster as he makes a push to win seats in the 2015 general election. Speech starts at 15:00 (10:00 EDT).
-Iranian President Rouhani is scheduled to give a press conference. 15:00 in New York.
-ECONOMY: South Korea consumer confidence (Sept.), University of Michigan U.S. consumer confidence (Sept.), Italy business confidence (Sept.), French consumer confidence (Sept.), German GfK consumer-confidence index (Oct.), U.K. Hometrack house prices (Sept.).
-CENTRAL BANKS: Colombia rate decision.
-SOVEREIGN RATING UPDATES: Austria (S&P), Azerbaijan (Fitch), EFSF (Moody’s), ESM (Moody’s), Finland (Fitch), Germany (DBRS), Ghana (Fitch), Ireland (DBRS), Luxembourg (S&P), Sweden (S&P), Qatar (S&P), Ukraine (Moody’s), Zambia (Moody’s).
-Major League Baseball. New York Yankees shortstop Derek Jeter’s 20th and final regular season comes to a close as the team plays the first of three games at the Boston Red Sox. 19:10 EDT. Click here for schedules of all Major League Baseball games.
SATURDAY, SEPT. 27
-South Africa Finance Minister Nhlanhla Nene speaks at the Regent Business School graduation ceremony. Event starts 10:30 in Durban. (4:30 EDT).
-The Globoil India cooking oils conference takes place in Mumbai. Scheduled speakers include Dorab Mistry, the director of Godrej International Ltd. 10:00 in Mumbai (00:30 EDT). Through Sept. 28.
-ECONOMY: China industrial profits (Aug.)