U.S. Payrolls, BOE, World Series: Week Ahead Oct. 31-Nov. 7by , , and
Automakers post sales; Facebook reports earnings; Turks vote
Rugby Cup reaches finale and American Pharoah runs last race
Employers in the U.S. probably added fewer than 200,000 workers for a third month in October.
U.S. service industries, which make up almost 90 percent of the world’s biggest economy, are projected to grow at the slowest pace in four months, data in the coming week will show.
The Bank of England is expected to leave its benchmark interest rate unchanged at a record-low 0.5 percent. Australia, Thailand and Poland also set monetary policy.
Facebook Inc., American International Group Inc. and Berkshire Hathaway Inc. are among U.S. companies reporting earnings, while automakers post U.S. vehicle sales for October. European banks UBS Group AG, Commerzbank AG and Societe Generale SA also report financial results.
Turks vote in national elections for the second time since June after unsuccessful talks to form a coalition government.
New Zealand and Australia face off in the Rugby World Cup final. Triple Crown winner American Pharoah runs his final race, and baseball’s World Series between the New York Mets and Kansas City Royals is decided.
SATURDAY, OCT. 31
-China International Capital Corp. will set the final price for an initial public offering in Hong Kong. The first Sino-foreign investment bank and an existing shareholder are seeking to raise as much as $811 million.
-German Chancellor Angela Merkel and Christian Social Union party head Horst Seehofer, who is pressing the government to act on the influx of refugees, meet to discuss solutions.
-Greece’s Parliament may vote on a bill setting rules for the recapitalization of banks, following publication in Brussels of stress-test results, and to approve remaining actions to allow the disbursement of an outstanding 2 billion-euro bailout tranche. Timing in Brussels and Athens TBA.
-New Zealand and Australia face off in the Rugby World Cup final. 16:00 (Noon EDT) at London’s Twickenham Stadium.
-The New York Mets host the Kansas City Royals in Game 4 of baseball’s best-of-seven World Series. 20:07 at Citi Field in Flushing, New York.
-Triple Crown winner American Pharoah runs his final race at the $5 million Breeders’ Cup 17:35 in Lexington, Kentucky.
SUNDAY, NOV. 1
-Turks vote in national elections for the second time since June after unsuccessful talks to form a coalition.
The AK Party, co-founded by President Recep Tayyip Erdogan, is said to be weighing a possible coalition with Turkey’s main opposition party, the CHP, should the vote lead to another hung parliament. Polls open at 08:00 (01:00 EDT) and close at 17:00 (09:00 EST), with early results expected a few hours after polls close.
-South Korean President Park Geun Hye hosts Japanese Prime Minister Shinzo Abe and Chinese Premier Li Keqiang in Seoul for a three-way summit aimed at easing tensions and restoring momentum for cooperation among the countries. A variety of issues from North Korea to free trade will be discussed.
-The U.S. Chamber of Commerce leads a business delegation to Cuba for the inaugural board meeting of the U.S.-Cuba Business Council and the 2015 Havana International Fair. Through 11/03.
-Obamacare’s open-enrollment period begins for health insurance plans beginning as soon as Jan. 1, 2016.
-The U.S. returns to standard time as clocks are turned back one hour at 02:00.
-The New York Mets host the Kansas City Royals in Game 5 of baseball’s best-of-seven World Series if needed. 20:15 at Citi Field in Flushing, New York.
-ECONOMY: China manufacturing, non-manufacturing PMI (Oct.), South Korea trade (Oct.)
MONDAY, NOV. 2
-U.S. President Barack Obama stops in Newark, New Jersey, to highlight efforts that help former convicts re-enter society. He’ll also take part in a round-table discussion on criminal justice at Rutgers University’s Center for Law and Justice. Times TBA. Afterward, he’ll head to New York to take part in two fundraisers.
-President Obama is expected to sign a two-year bipartisan budget plan that also extends the U.S.’s borrowing authority until March 2017 once Congress completes the paperwork to send the bill to his desk.
-U.S. manufacturing may have contracted in October for the first time in almost three years, highlighting factories’ struggles with slowing foreign sales and a stronger dollar. The Institute for Supply Management’s index will be released at 10:00 Washington time.
-Federal Reserve Bank of San Francisco President John Williams, a voting member of the Federal Open Market Committee this year, gives welcoming remarks at a consumer-finance conference hosted by the bank. 09:00 (noon EST) in San Francisco.
-The U.S. Supreme Court hears arguments in a case that seeks to bar Congress from authorizing lawsuits under as many as a dozen federal consumer-protection laws by individuals who haven’t suffered any concrete harm. 11:00 in Washington.
-The U.S. House of Representatives this week is expected to take up a $325 billion, six-year highway-funding bill. Congress passed a short-term reauthorization of the federal Highway Trust Fund through Nov. 20 to give time for the House and Senate to reconcile their versions of the measure providing money for surface-transportation and mass-transit projects.
-Visa Inc. may announce as soon as today the acquisition of former subsidiary Visa Europe Ltd., according to a person briefed on the payment network’s plans. The deal would be valued at more than $20 billion, the person, who asked not to be named because the talks are private, said on Oct. 29.
-Sheldon Silver, former speaker of the New York State Assembly, goes on trial in a corruption case. He’s accused of using his position and connections with real estate developers and a medical research center to pocket almost $4 million of kickbacks disguised as legal fees. Silver, a Democrat, stepped down as speaker in January, pleaded not guilty and has said he expects to be vindicated in the trial. 10:00, U.S. District Court, Manhattan.
-U.S. Director of National Intelligence James Clapper, Army Chief of Staff General Mark Milley and Deputy Secretary of Defense Robert Work are among scheduled speakers at the Defense One Summit. Washington. Click here for agenda.
-ICE Futures U.S. introduces its new global cotton contract, which will expand deliveries of the commodity to include India, Brazil, Australia, Benin, Burkina Faso, Cameroon, Ivory Coast and Mali in addition to the U.S. The contract size will be for 55,000 pounds.
-South Korean President Park Geun Hye holds her first summit meeting with Japanese Prime Minister Shinzo Abe in Seoul after dropping the condition that Japan do more to atone for its wartime past before a meeting can be held. Park now appears to be embarking on a two-track approach, seeking dialog on ways to contain a nuclear-armed North Korea and boost bilateral economic cooperation, while separately pressing Abe on historic issues related to Japan’s 35-year occupation of the Korean peninsula. Time to be determined.
-French President Francois Hollande begins a two-day visit to China, where he will meet with Chinese President Xi Jinping. Hollande is expected to discuss climate change with the Chinese leader ahead of a conference in Paris in December that is seeking a global deal on curbing greenhouse gases.
-Bank of Spain Governor Luis Maria Linde and Sveriges Riksbank Governor Stefan Ingves speak at a Financial Markets Association conference in Madrid.
-U.S. government bond auctions, Fed debt purchases. Click here for the schedule.
-U.S. initial public stock offerings. Click here for a schedule.
-ECONOMY: Markit U.S. manufacturing PMI (Oct., final), U.S. construction spending (Sept.), RBC Canadian manufacturing (Oct.), Caixin China manufacturing PMI (Oct.), Nikkei Taiwan manufacturing PMI (Oct.), South Korea current account (Sept.), Turkey consumer price inflation (Oct.), Russia manufacturing PMI (Oct.), Poland manufacturing PMI (Oct.)
-EARNINGS: Clorox Co., Ecolab Inc., Eversource Energy, Noble Energy Inc., Sysco Corp., Cardinal Health Inc., Estee Lauder Cos., Visa Inc., Allstate Corp., American International Group Inc., Tenet Healthcare Corp., Pioneer Natural Resources Co., Dominion Resources Inc., Westpac Banking Corp., DBS Group Holdings Ltd., HSBC Holdings Plc, Nissan Motor Co., Commerzbank AG, Ryanair Holdings Plc, Bankia SA
TUESDAY, NOV. 3
-Automakers report U.S. vehicle sales, which may prove to be the best of any October in a decade amid job gains, available credit and low gasoline prices. Fiat Chrysler Automobiles NV usually reports at about 08:30 EST, followed by Ford Motor Co. at 9:15 and General Motors Co. at about 09:30.
-Netflix Inc. Chief Executive Officer Reed Hastings, International Business Machines Corp. CEO Ginni Rometty and activist-investor Carl Icahn are among speakers at the New York Times DealBook Conference. Begins at 08:45 in New York. Click here for agenda.
-U.K. Chancellor of the Exchequer George Osborne may provide more details of the country’s demands in its renegotiation of terms for its European Union membership in a speech to the German BDI industry federation. Event begins at 10:00 (04:00 EST) in Berlin.
-Italian Finance Minister Pier Carlo Padoan, European Commission Vice President Valdis Dombrovskis and German Deputy Finance Minister Jens Spahn speak at a conference. 17:30 in Berlin (11:30 EST).
-Mitsubishi Heavy Industries Ltd. Chief Executive Officer Shunichi Miyanaga, Waste Management Inc. CEO David Steiner and GE Aviation CEO David Joyce are among scheduled participants in the Goldman Sachs Industrials Conference. In Boston through 11/04.
-Hungary’s central bank unveils measures designed to boost corporate lending.
-ECONOMY: U.S. factory orders (Sept.), Hong Kong retail sales (Sept.), South Korea CPI (Oct.)
-CENTRAL BANKS: Australia rate decision, Bank of Korea minutes of October meeting
-EARNINGS: Archer-Daniels-Midland Co., CIT Group Inc., Emerson Electric Co., Itau Unibanco Holding SA, Discovery Communications Inc., McGraw Hill Financial Inc., Kellogg Co., Sempra Energy, Devon Energy Corp., TransCanada Corp., Activision Blizzard Inc., Cablevision Systems Corp., CBS Corp., Tesla Motors Inc., SJM Holdings Ltd., Bayerische Motoren Werke AG, Hugo Boss AG, Imperial Tobacco Group Plc, Associated British Foods Plc, UBS Group AG
-The Kansas City Royals host the New York Mets in Game 6 of baseball’s best-of-seven World Series if needed. 19:07 (2O:07 EST) at Kauffman Stadium in Kansas City, Missouri.
WEDNESDAY, NOV. 4
-The U.S. trade deficit is projected to narrow slightly in September after widening in August by the most in five months, a Commerce Department report may show. 08:30 in Washington.
-American service industries probably expanded in October at the slowest pace in four months. Weakness in overseas markets, signs of cooler domestic demand and financial-market volatility may be holding back companies that make up almost 90 percent of the economy. The Institute for Supply Management’s non-manufacturing index will be issued at 10:00 Washington time.
-Federal Reserve Chair Janet Yellen gives testimony on the Federal Reserve’s supervision and regulation of the financial system before the U.S. House Financial Services Committee. Hearing begins at 10:00 in Washington.
-The European Central Bank’s Governing Council convenes a non-monetary policy meeting to review the Emergency Liquidity Assistance ceiling for Greek lenders. Timing in Frankfurt TBA.
-Federal Reserve Bank of New York President William Dudley speaks at a press briefing on income variance, employment and other research findings of the bank’s economists. 14:30 in New York.
-French President Francois Hollande visits South Korea and meets with President Park Geun Hye and Prime Minister Hwang Kyo Ahn.
-Japan Post Holdings Co. lists on the Tokyo Stock Exchange along with its banking and insurance units, Japan Post Bank Co. and Japan Post Insurance Co. The three-pronged initial public offering is the world’s biggest since Alibaba Group Holding Ltd. in September 2014. 09:00 Tokyo (11/03 19:00 EST).
-Slovakian President Andrej Kiska is among the speakers at a conference in Bratislava, Slovakia, focusing on economic growth and new investments. Finance ministers including the Netherlands’ Jeroen Dijsselbloem, Austria’s Hans Joerg Schelling, Malta’s Edward Scicluna, Slovakia’s Peter Kazimir and Hungary’s Mihaly Varga are also among the participants.
-Presidents including Poland’s Andrzej Duda, Hungary’s Janos Ader, Bulgaria’s Rosen Plevneliev, Estonia’s Toomas Ilves and Lithuania’s Dalia Grybauskaite attend a conference on NATO cooperation in Bucharest.
-The 6th Carbon Sequestration Leadership Forum Ministerial Conference will hold its plenary session in Riyadh, with Ali Al-Naimi, Saudi Arabia’s minister of petroleum and mineral resources, scheduled to speak at 08:30 (00:30 EST).
-Vitol Group BV Chief Executive Officer Ian Taylor, Statoil ASA CEO Eldar Saetre and Pioneer Natural Resources Co. CEO Scott Sheffield are among speakers at The Economist ’s Energy Summit. Begins at 09:00 (04:00 EST) in London. Through 11/05. Click here for agenda.
-Sotheby’s begins offering the $500 million art collection of A. Alfred Taubman, the late shopping mall mogul and philanthropist who once served as the auction house’s chairman.
-The Energy Information Administration releases its U.S. oil inventory report. 10:30 in Washington.
-Federal Reserve Vice Chairman Stanley Fischer delivers the Herbert Stein Memorial Lecture to the annual dinner of the National Economists Club. Remarks start at 19:30 in Washington.
-ECONOMY: MBA U.S. mortgage applications (weekly), ADP U.S. employment change (Oct.), Markit U.S. services PMI (Oct., final), Canada trade balance (Sept.), Brazil industrial production (Sept.), Caixin China composite, services PMI (Oct.), Nikkei Hong Kong PMI (Oct.), Japan monetary base (Oct.)
-CENTRAL BANKS: Thailand rate decision, Poland benchmark rate, Iceland benchmark rate, Georgia benchmark rate, Mexico quarterly inflation report
-EARNINGS: Time Warner Inc., Regeneron Pharmaceuticals Inc., Allergan Plc, Motorola Solutions Inc., Twenty-First Century Fox Inc., MetLife Inc., Prudential Financial Inc., CF Industries Holdings Inc., Marathon Oil Corp., Qualcomm Inc., Whole Foods Market Inc., Transocean Ltd., Liberty Media Corp., Facebook Inc., Honda Motor Co., Softbank Group Corp., ING Groep NV, Marks & Spencer Group Plc
-The Kansas City Royals host the New York Mets in Game 7 of baseball’s best-of-seven World Series if needed. 19:07 (20:07 EST) at Kauffman Stadium in Kansas City, Missouri.
THURSDAY, NOV. 5
-Bank of England rate decision. The U.K. central bank sets monetary policy amid projections it will hold the benchmark interest rate at a record low of 0.5 percent after a government report showed economic growth had cooled in the third quarter. Noon in London (07:00 EST).
-Federal Reserve Bank of New York President William Dudley, International Monetary Fund Managing Director Christine Lagarde and Federal Reserve Vice Chairman Stanley Fischer speak at the "Reforming Culture and Behavior in the Financial Services Industry: Workshop on Progress and Challenges." Dudley gives opening remarks at 08:30, followed by Lagarde’s keynote at 08:45 and a discussion with Fischer at 09:10. In New York.
-Federal Reserve Governor Daniel Tarullo and Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig are among scheduled speakers at the 18th annual International Banking Conference, held at the Federal Reserve Bank of Chicago and co-sponsored by the World Bank. The topic of the two-day conference is “The Future of Large, Internationally Active Banks.” Begins at 09:40 (10:40 EST).
-JPMorgan Chase & Co., PNC Financial Services Group Inc., KeyCorp and Wells Fargo & Co. are among banks participating in the BancAnalysts Association of Boston’s annual conference. In Boston through 11/06.
-Federal Reserve Bank of Atlanta President Dennis Lockhart speaks to the Joint Central Bank Conference. 19:30 (13:30 EST) in Bern, Switzerland.
-Former Federal Reserve Chairman Ben Bernanke gives the keynote lecture at the International Monetary Fund’s annual research conference. 16:00 in Washington.
-Rio Tinto Plc’s Andrew Harding, the London-based miner’s iron ore chief, will give at speech at 07:30 (18:30 EST 11/4) in Perth, Australia.
-The Energy Information Administration releases its U.S. natural gas inventory report. 10:30 in Washington.
-Foreign ministers from the European Union and Asian nations meet to discuss partnerships on topics such as climate change and disaster management. Starts at 10:00 in Luxembourg (04:00 EST), with a news conference set for 12:30 Friday (06:30 EST).
-Catalonia’s separatist party sets a date for its parliament to pass a proposal to begin a secession process from Spain as the national government readies legal steps that could suspend some powers of the regional government.
-People’s Bank of China Governor Zhou Xiaochuan is expected to be a keynote speaker at the three-day China Caixin Summit, where officials will chart reform plans as the country seeks to transition from an economy reliant on infrastructure and exports to one powered by consumer spending and innovation. In Beijing through 11/07.
-Chinese President Xi Jinping visits Vietnam. Relations between Vietnam and China, by far its largest trading partner, have been inflamed by China reclaiming reefs in the South China Sea. Through 11/06.
-Bloomberg Germany Day conference featuring Bundesbank Executive Board member Andreas Dombret, Goldman Sachs chief European economist Huw Pill and German Deputy Finance Minister Jens Spahn, begins at 13:00 in Frankfurt (07:00 EST).
-ECONOMY: U.S. productivity and labor costs (third quarter, preliminary), Challenger U.S. job cuts (Oct.), U.S. initial jobless claims (weekly), Bloomberg Consumer Comfort Index (weekly), Colombia inflation (Oct.), Indonesia GDP (third quarter), Taiwan CPI (Oct.), Taiwan foreign reserves (Oct.), Russia inflation and services (Oct.)
-CENTRAL BANKS: Malaysia rate decision, Bank of Japan minutes for first meeting in October, Czech benchmark rate, Romania benchmark rate.
-EARNINGS: Tata Steel Ltd., Alstom SA , Apache Corp., Celgene Corp., Symantec Corp., BCE Inc., Duke Energy Corp., Enbridge Inc., Molson Coors Brewing Co., Apache Corp., Ralph Lauren Corp., Walt Disney Co., Kraft Heinz Co., News Corp., Monster Beverage Corp., Toyota Motor Corp., Melco Crown Entertainment Ltd., Credit Agricole SA, Deutsche Telekom AG, Societe Generale SA, Vestas Wind Systems A/S.
FRIDAY, NOV. 6
-Employers in the U.S. probably added fewer than 200,000 workers for a third month in October as slower overseas markets and an easing in domestic demand made companies deliberate about their hiring. Payrolls are forecast to rise by about 180,000 after a 142,000 gain a month earlier, while the jobless rate is projected to stay at 5.1 percent. The Labor Department will issue the figures at 08:30 in Washington.
-Bank of Japan Governor Haruhiko Kuroda gives a speech in Tokyo. 13:00 (11/05 23:00 EST).
-German Chancellor Angela Merkel’s chief of staff Peter Altmaier gives the keynote speech at the "Europe’s Strategic Choices" conference in Berlin. Event starts at 14:00 CET (08:00 EST).
-Ukrainian Finance Minister Natalie Jaresko gives the keynote speech at the CFA Society Ukraine conference. 09:00 (03:00 EST) in Kiev.
-Federal Reserve Bank of St. Louis President James Bullard discusses U.S. monetary policy and the economic outlook at the St. Louis Regional Chamber’s Financial Forum. 08:00 (09:00 EST) in St. Louis.
-Federal Reserve Governor Lael Brainard takes part in the forum,“Policy Lessons and the Future of Unconventional Monetary Policy," during the IMF’s annual research conference in Washington. 16:15.
-Baker Hughes rig count for oil and gas rigs in the U.S. 13:00 EDT.
-Berkshire Hathaway Inc. is expected to report third-quarter earnings after the close of U.S. markets. Analysts estimate that the company will post record profit in the period because of a one-time gain on an investment in Kraft Heinz Co. Some of Chairman Warren Buffett’s other stock picks -- including American Express Co. and Wal-Mart Stores Inc. -- haven’t fared as well. That will slow the growth in Buffett’s favored measure of his company’s progress, book value per share.
-“Spectre,” the new James Bond film, debuts in U.S. theaters after its Oct. 26 release in the U.K. and openings in much of Europe. The picture, co-produced by Metro-Goldwyn-Mayer, is the 25th in the series and the fourth for Daniel Craig in the title role of the famed secret agent. It’s also the last of four to be distributed by Sony Pictures under a deal with MGM. BoxOffice.com predicts opening weekend sales of $90 million in the U.S. and Canada, which would be the record for the movie franchise.
-ECONOMY: U.S. consumer credit (Oct.), Canada unemployment rate (Oct.), Brazil IPCA inflation (Oct.), Chile inflation (Oct.), Hong Kong foreign reserves (Oct.), Czech trade (Sept.)
-CENTRAL BANKS: Reserve Bank of Australia quarterly update and inflation forecasts, Kazakhstan interest rate.
-SOVEREIGN RATING UPDATES: Belgium (Moody’s), Botswana (S&P), Egypt (Moody’s), Ethiopia (S&P), European Union (Moody’s), Gabon (Fitch), Hungary (Moody’s), Latvia (Fitch), Switzerland (Moody’s), Turkey (S&P)
SATURDAY, NOV. 7
-Republican presidential candidate Donald Trump hosts NBC’s “Saturday Night Live" sketch-comedy program. 11:30 in New York.
-Federal Reserve Bank of San Francisco President John Williams is the keynote speaker at the Arizona Council on Economic Education’s 2015 gala, where he will give an outlook and economic-education speech. 20:10 (23:10 EST) in Tempe, Arizona.
-ECONOMY: China foreign reserves (Oct.).