U.S. Payrolls, UN, Spain: Week Ahead Sept. 26-Oct. 3Nancy Moran, James Amott and Stanley James
Employers in the U.S. added more jobs in September than a month earlier, while the jobless rate held at a seven-year low, data in the coming week probably will show.
Congress faces a deadline to reach a measure to fund the U.S. government beyond the end of its fiscal year on Sept. 30.
U.S. President Barack Obama and Russian President Vladimir Putin meet on the sidelines of the 70th session of the United Nations General Assembly.
Federal Reserve officials, including Chair Janet Yellen and Vice Chairman Stanley Fischer, are scheduled to speak at forums and conferences throughout the U.S.
Automakers report U.S. vehicle sales for September.
Catalonia holds elections in what the autonomous Spanish region’s leader, Artur Mas, has framed as a ballot on independence.
The Rugby World Cup continues across England and Wales.
SATURDAY, SEPT. 26
-President Xi Jinping’s first trip to the U.S. as China’s leader continues in New York through Monday, when he will address the annual meeting of the United Nations General Assembly.
-Pope Francis arrives for a two-day visit to Philadelphia, where he’ll give mass at the Cathedral Basilica of Saints Peter and Paul, visit the Independence Mall and give mass for the World Meeting of Families at the Pennsylvania Convention Center. Click here for schedule.
-Chinese President Xi Jinping and U.S. President Barack Obama are among leaders addressing the United Nations Sustainable Development Summit in New York, which will focus on issues ranging from climate change to fighting disease and improving access to safe drinking water. Xi speaks today, Obama tomorrow. The summit begins at 09:00 each day.
-South Korean President Park Geun Hye delivers a speech at the United Nations General Assembly on issues ranging from security to development, and will subsequently hold a series of meetings with leaders from other nations during her U.S. trip that ends Sept. 28.
-The Rugby World Cup continues across England and Wales. Many of rugby’s top teams, including Australia, England, Ireland, South Africa and Wales, are playing over the weekend, while midweek matches feature Wales again and France. Through 10/31.
SUNDAY, SEPT. 27
-Catalonia regional elections. Artur Mas, the leader of the autonomous community in Spain, has framed the vote as a ballot on independence after Prime Minister Mariano Rajoy blocked an attempt to hold a referendum last November. Exit polls are expected at about 20:00 CET in Barcelona (14:00 EDT).
-The U.K.’s main opposition Labour Party opens its annual conference, the first since the election of Jeremy Corbyn as its leader on an anti-austerity ticket. Corbyn is due to be interviewed on BBC TV’s flagship politics program, starting at 09:00 in Brighton, southern England (04:00 EDT).
-CBS Corp.’s “CSI: Crime Scene Investigation” ends it 15-year run with tonight’s two-hour finale. The “CSI” series helped the television network become the most-watched in the U.S. for 12 of the past 13 years. 21:00 EDT.
MONDAY, SEPT. 28
-UN General Assembly. World leaders gather in New York for the 70th session of the assembly. Talks are expected to focus on the war in Syria, refugees in Europe, climate change and the Iranian nuclear accord. U.S. President Barack Obama, Russian President Vladimir Putin and Iranian President Hassan Rouhani are among leaders addressing the full assembly today. Through 10/03.
-U.S. President Barack Obama and Russian President Vladimir Putin meet on the sidelines of the UN General Assembly in New York this week at the request of Putin. The meeting would mark the first face-to-face talks between the leaders in more than a year, and will focus on the conflicts in Ukraine and Syria. Time TBD.
-Obama will also meet separately with Indian Prime Minister Narendra Modi on the sidelines of the General Assembly. Time TBD.
-Federal Reserve Bank of New York President William C. Dudley discusses monetary policy in an interview with the Wall Street Journal. 08:30 EDT.
-U.S. personal spending and incomes probably advanced in August, fueled by a stronger labor market, a report from the Commerce Department is projected to show. 08:30 in Washington.
-JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon gives the keynote address at the Invest Japan Seminar 2015 organized by the Japan External Trade Organization. 09:10 in New York.
-Exelon Corp. has until the end of business today to appeal the District of Columbia Public Service Commission’s decision to reject its proposed $6.8 billion takeover of utility Pepco Holdings Inc.
-John McDonnell, the newly appointed finance spokesman of the U.K.’s main opposition Labour Party, addresses its annual conference, which may also debate a call for the abolition of the country’s nuclear deterrent. About 12:00 in Brighton, southern England (07:00 EDT).
-European Union Economic and Monetary Commissioner Pierre Moscovici and German Deputy Finance Minister Jens Spahn address a conference on ways to spur growth in Europe. Spahn speaks at 13:30 CET in Berlin (07:30 EDT), and Moscovici at 17:00.
-Commerzbank AG Chief Executive Officer Martin Blessing and Peter Altmaier, Chancellor Angela Merkel’s chief of staff, take part in a panel discussion on the benefits and risks of digital banking at 18:00 CET in Berlin (12:00 EDT).
-Gazprom PJSC faces a deadline to provide a formal response to the European Commission’s antitrust claim that the Russian natural-gas monopoly imposed unfair prices in central and eastern European countries.
-Federal Reserve Bank of Chicago President Charles Evans gives a speech titled “A Perspective on Monetary Policy” at Marquette University’s Business Leaders Forum in Milwaukee, Wisconsin. 12:30 (13:30 EDT).
-Federal Reserve Bank of San Francisco President John Williams, a voting member of the Federal Open Market Committee this year, discusses interest rate policy at UCLA’s Anderson School of Management. 14:00 in Los Angeles (17:00 EDT).
-FedEx Corp. shareholders gather in Memphis, Tennessee, for the U.S. delivery company’s annual meeting. Investors will be asked to vote on splitting the roles of chairman and chief executive officer, a proposal that has appeared on previous proxy ballots and remains opposed by management. The board is also opposed to all other shareholder proposals, while recommending a vote in favor of its non-binding say-on-pay proposal. 08:00 (09:00 EDT).
-The Global Gaming Expo, the annual casino-industry conference, runs through Thursday in Las Vegas. Topics range from the state of the industry, which is battling a slump in its biggest market, Macau, to panels on on tribal gaming, online gambling and new areas like e-sports.
-Canadian election debate. Prime Minister and Conservative Party leader Stephen Harper, the New Democratic Party’s Tom Mulcair and Liberal Party leader Justin Trudeau participate in the nationally televised Munk Debate on Canada’s Foreign Policy ahead of the country’s Oct. 19 election. 19:00 in Toronto.
-U.S. government bond auctions, Fed debt purchases. Click here for schedule.
-U.S. initial public stock offerings. Click here for schedule.
-Trevor Noah takes the helm of “The Daily Show” on Viacom Inc.’s Comedy Central. Jon Stewart stepped down from the late-night program in August after 16 years as host. 23:00 EDT.
-ECONOMY: Pending U.S. home sales (Aug.), Dallas Fed manufacturing index (Sept.), Mexico unemployment rate (Aug.), China industrial profits (Aug.), Italian consumer confidence (Sept.)
-CENTRAL BANKS: Angola rate decision
TUESDAY, SEPT. 29
-Home prices in 20 U.S. cities probably increased at a faster pace in the 12 months ended in July, according to an index from S&P/Case-Shiller. 09:00 in Washington.
-Consumer confidence probably declined in September as volatility in U.S. equity markets picked up on concerns about the global economy. The Conference Board releases its index at 10:00 in New York.
-Japanese Prime Minister Shinzo Abe will speak at Bloomberg’s New York office. Abe is beginning a second three-year term as leader of the Liberal Democratic Party and is on course to become the longest-serving prime minister since the 1970s. 09:00.
-Oaktree Capital Group LLC Co-Chairman Howard Marks gives the keynote speech at the C4K Sohn Canada Conference. He will be among 22 money managers presenting at the investment conference hosted by Capitalize for Kids, a nonprofit organization focused on raising funds for the field of children’s brain and mental health, in partnership with the Sohn Conference Foundation. In Toronto through 09/30. Click here for agenda.
-U.S. Securities and Exchange Commission Chair Mary Jo White and fellow commissioners speak at an agency-hosted conference commemorating the 75th Anniversary of the Investment Company Act and the Investment Advisers Act. 09:15 in Washington. Click here for agenda.
-Consolidated Edison Inc. Chief Executive Officer John McAvoy and Dynegy Inc. CEO Robert Flexon are among scheduled participants in the Wolfe Research Power and Gas Leaders Conference. In New York through 09/30.
-U.K. Labour leader Jeremy Corbyn gives the keynote speech at his party’s annual conference, two weeks after being elected. 14:15 in Brighton, southern England (09:15 EDT).
-The U.S. Senate Finance Committee holds a hearing on “Financial and Economic Challenges in Puerto Rico.” Chairman Orrin Hatch, in a statement on Sept. 22, said the committee would “explore how the territory manages its finances and government-backed borrowing entities.” 10:00 in Washington.
-OAS SA bondholders are scheduled to meet for a vote on the bankrupt Brazilian builder’s restructuring plan after the gathering’s initial date of Sept. 22 was postponed for failure to reach a quorum. The company has said that creditors are waiting for a firm decision on the sale of OAS’s stake in airport and toll-road operator Invepar.
-Tesla Motors Inc., led by its billionaire Chief Executive Officer Elon Musk, starts deliveries of its all-electric Model X sport utility vehicle when a limited edition Founders Series is presented at its factory in Fremont, California.
-Slovakia central bank Governor Jozef Makuch, a member of the European Central Bank’s Governing Council, will present new economic forecasts for the eastern European country. 13:00 CET in Bratislava, Slovakia (07:00 EDT).
-ECONOMY: Brazil IGP-M inflation index (Sept.), euro-area economic confidence (Sept.), German CPI (Sept.), U.K. mortgage approvals (Aug.), Hungary unemployment (Aug.), Russia current account (second quarter), Croatia industrial output (Aug.)
-CENTRAL BANKS: Rwanda rate decision
-EARNINGS: Costco Wholesale Corp.
WEDNESDAY, SEPT. 30
-Last day of fiscal 2015. U.S. federal agencies operating non-essential services, such as national parks and Internal Revenue Service taxpayer-information phone lines, won’t have the authority to spend money beginning tomorrow without a congressionally approved appropriations bill or a stopgap funding measure for the 2016 fiscal year. At issue in this year’s bill is funding for the women’s health organization Planned Parenthood, a target of anti-abortion groups and more than 40 conservative Republicans. A legislative impasse triggered a 16-day government shutdown in October 2013.
-Canada reports gross domestic product for July. Statistics Canada reported for June that output grew by 0.5 percent after five previous contractions. 08:30 in Ottawa.
-Federal Reserve Bank of New York President William C. Dudley gives the keynote address at the Securities Industry and Financial Market Association’s Liquidity Forum. 08:35 in New York. Click here for program.
-International Monetary Fund Managing Director Christine Lagarde visits the Council of the Americas to discuss global economic policies and prospects ahead of the annual meetings of the World Bank and IMF Boards of Governors in Lima, Peru, next month. 10:30 in Washington.
-Bloomberg Live Canadian Fixed Income Conference. Alberta Premier Rachel Notley, Loomis Sayles & Co. Vice Chairman Dan Fuss and Encana Corp. Chief Financial Officer Sherri Brillon are among speakers at the one-day conference sponsored by the National Bank of Canada Financial Markets. Bloomberg headquarters in New York. Click here for agenda.
-Bank of America Corp. resubmits a capital plan to the Federal Reserve. The lender has to prove it has a better grasp on risk than in March, when it initially submitted its plan for the Fed’s stress test. The Fed will take 75 days to respond, BofA Chief Executive Officer Brian Moynihan has said.
-Gulf of Mexico oil blocks. Mexico will auction as many as five production-sharing contracts for nine shallow-water oil fields off the Tabasco and Campeche coasts in the southeastern Gulf. The country has adjusted bidding rules to make the fields more attractive for private companies after selling only two of 14 blocks in its first-ever auction of oil fields in July. Companies such as Chevron Corp., Royal Dutch Shell Plc and Statoil ASA are qualified to bid in the auction. 08:00 (09:00 EDT) in Mexico City.
-Fidel Castro’s daughter, Alina Fernandez, is the keynote speaker at the Oilseed and Grain Trade Summit, where she will discuss the economic, political and agricultural changes in Cuba under Raul Castro. In Minneapolis through 10/02. Click here for agenda.
-Trade ministers gather in Atlanta to discuss the proposed 12-nation Trans-Pacific Partnership bloc. The ministers last gathered in July in Hawaii. Through 10/01.
-The U.S. Energy Information Administration releases its U.S. oil inventory report. 10:30 in Washington.
-Madison Square Garden Co. splits into two companies, with one holding the sports and entertainment units -- home of the New York Knicks basketball team and Radio City Music Hall -- and the other consisting of regional sports networks.
-Federal Reserve Chair Janet Yellen and Federal Reserve Bank of St. Louis President James Bullard make opening remarks at the central bank’s annual Community Banking Research and Policy Conference. 14:00 (15:00 EDT) in St. Louis. Through 10/01.
-Federal Reserve Governor Lael Brainard speaks at the central bank’s annual Community Banking Research and Policy Conference at 19:00 (20:00 EDT) in St. Louis.
-Hungarian central bank President Gyorgy Matolcsy, Polish central bank Governor Marek Belka and Turkish central bank Governor Erdem Basci will be among the speakers at a conference on central Europe’s financial system. Starts at 09:00 CET in Budapest (03:00 EDT).
-Estonian central bank Governor Ardo Hansson, a member of the ECB’s Governing Council, discusses the eastern European country’s economic outlook. 09:00 in Tallinn, Estonia (02:00 EDT).
-Toshiba Corp. shareholders’ meeting. 10:00 in Tokyo (21:00 EDT).
-ECONOMY: U.S. MBA mortgage applications (weekly), U.S. ADP employment (Sept.), Chicago purchasing managers index (Sept.), Brazil primary budget balance (Aug.), S. Korea business confidence survey (Oct.), Japan industrial production (Aug.), Japan retail sales (Aug.), South Africa trade balance (Aug.), Kenya CPI (Sept.), euro-area CPI (Sept.), euro-area unemployment (Aug.), German unemployment rate (Sept.), U.K. GDP (second quarter), Italian unemployment rate (Aug.), Italian CPI (Sept.), Portugal retail sales (Aug.), Portugal industrial production (Aug.), Poland CPI (Sept.), Turkey trade balance (Aug.), Egypt GDP (second quarter)
-CENTRAL BANKS: Guatemala rate decision, Dominican Republic rate decision, Romania rate decision
-EARNINGS: Paychex Inc.
THURSDAY, OCT. 1
-China will announce its official manufacturing purchasing managers’ index for September. The reading fell in August to the lowest in three years as monetary easing failed to revive growth drivers weighed by overcapacity and sliding prices. Caixin Media and Markit Economics are also scheduled to announce their own version of the PMI index. 09:00 in Beijing (09/30 21:00 EDT).
-Chinese President Xi Jinping is expected to make a televised address on the 66th anniversary of the founding of the People’s Republic of China. The nation’s markets will be closed for the weeklong National Day holiday, which ends on Oct. 7.
-Joe Biden is expected to decide by today whether or not to enter the race for the 2016 Democratic nomination for U.S. president, according to people familiar with the vice president’s thinking.
-The U.S. Environmental Protection Agency is under a court-ordered deadline of today to take final action on proposed ozone standards. The agency must decide whether to revise or retain a current standard, set in 2008, of 75 parts per million. On Sept. 22, a coalition of 70 mayors urged the Obama administration to implement the “strongest possible protections” against ozone. Republicans in the U.S. House have said the current standard should be retained to avoid “significant costs” to local governments and businesses.
-Automakers report U.S. vehicle sales for September. Volkswagen AG is likely to miss out on the industry’s growth again this month amid a U.S. probe into emissions-cheating software in diesel models, which account for more than a fifth of its U.S. volume. 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.
-Manufacturing in the U.S. probably expanded in September at the slowest pace since May 2013 as demand from overseas customers weakened. The Institute for Supply Management releases data at 10:00 in Washington.
-The Bank of England’s Financial Policy Committee publishes its record of its Sept. 23 meeting. 09:30 in London (04:30 EDT).
-The extension of a debt-forbearance agreement between bondholders and Puerto Rico’s Electric Power Authority, the commonwealth’s main utility known as Prepa, expires today. Bond insurers guaranteeing $2.5 billion of Prepa’s debt on Sept. 19 refused to extend the accord, which has kept restructuring negotiations outside of court.
-The U.S. Energy Information Administration releases its natural gas inventory report. 10:30 in Washington.
-Federal Reserve Bank of San Francisco President John Williams, a voting member of the Federal Open Market Committee this year, discusses the U.S. economy during a gathering of Salt Lake City-area community leaders. 12:30 (14:30 EDT) in Salt Lake City.
-ECONOMY: U.S. Challenger job-cut announcements (Sept.) U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly), U.S. Markit manufacturing PMI (Sept. final), U.S. construction spending (Aug.), Brazil monthly trade balance (Sept.), South Africa manufacturing PMI (Sept.), South Africa consumer confidence (third quarter), euro-area manufacturing PMI (Sept.), U.K. manufacturing PMI (Sept.), Russia current account (third quarter), Russia manufacturing PMI (Sept.), Poland manufacturing PMI (Sept.), Hungary manufacturing PMI (Sept.), Czech manufacturing PMI (Sept.), Turkey manufacturing PMI (Sept.)
-EARNINGS: Micron Technology Inc., McCormick & Co. Inc.
FRIDAY, OCT. 2
-Employers in the U.S. probably added more jobs in September than a month earlier, while the jobless rate held at a seven-year low of 5.1 percent, economists forecast the Labor Department will report. The data may also show that the projected gain in payrolls probably did little to stoke faster wage gains. 08:30 in Washington.
-Energy ministers from members of the Group of 20, including oil producers Saudi Arabia, Russia and Mexico, gather in Istanbul.
-Federal Reserve Vice Chairman Stanley Fischer gives the keynote address at the Boston Fed’s “Macroprudential Monetary Policy” conference. 13:00. Eric Rosengren, William Dudley, Loretta Mester and Narayana Kocherlakota are among other scheduled Fed speakers. In Boston through 10/03.
-Baker Hughes rig count for oil and gas rigs in the U.S. 13:00 EDT.
-German Chancellor Angela Merkel takes part in a German Unity Day ceremony in her electoral district, one of a series of events marking 25 years since East Germany and West Germany reunified. 17:00 CET in Stralsund, northeast Germany (11:00 EDT).
-The leaders of Russia, Ukraine, Germany and France meet to discuss the situation in Ukraine. Timings in Paris to be determined.
-Canadian election debate. Prime Minister and Conservative Party leader Stephen Harper, the New Democratic Party’s Tom Mulcair, Liberal Party leader Justin Trudeau and Bloc Québécois leader Gilles Duceppe participate in a debate on the French-language TVA network ahead of the country’s Oct. 19 election. 20:00 in Montreal.
-ECONOMY: U.S. factory orders (Aug.), Brazil industrial production (Aug.), Hong Kong retail sales (Aug.), S. Korea consumer prices (Sept.), Japan jobless rate (Aug.), Japan monetary base (Sept.), Japan company inflation expectations from Tankan survey (third quarter), euro-area PPI (Aug.), U.K. construction PMI (Sept.), Romania retail sales (Aug.), Hungary trade balance (July).
-SOVEREIGN RATING UPDATES: Bulgaria (Moody’s), Finland (Moody’s), Georgia (Fitch), Kuwait (Moody’s), Malta (DBRS), Qatar (Moody’s), Spain (S&P).
SATURDAY, OCT. 3
-Argentina bond payment. Without a formal swap offer to extend the maturity on $6.3 billion of debt coming due today, a drop in the Latin American country’s international reserves -- which currently stand at $33.4 billion -- will be triggered. That would prompt investors and analysts to re-evaluate the nation’s ability to pay future obligations as reserves decline without access to international credit markets.