Retail Sales, Netanyahu, Euro-Area GDP: Week Ahead Nov. 7-14

  • Federal Reserve bank presidents discuss the U.S. economy
  • Airbus, Boeing seek to win jet orders at Dubai Air Show

U.S. retail sales are expected to pick up in October from a month earlier as resilient consumer spending helps drive the economy, data in the coming week may show.

Stock-market gains probably lifted Americans’ sentiment in November, a separate report will indicate. Euro-area third-quarter growth figures are released.

European Central Bank President Mario Draghi speaks in London and Brussels, while Federal Reserve bank presidents offer remarks on the U.S. economy.

U.S. retail sales monthly % change

Israeli Prime Minister Benjamin Netanyahu meets with U.S. President Barack Obama in Washington, and Indian Prime Minister Narendra Modi travels to the U.K., where he will address lawmakers and meet with company executives.

Priceline Group Inc., Siemens AG and Cisco Systems Inc. are among companies reporting earnings.

Singles’ Day, China’s biggest shopping event and Alibaba Group Holding Ltd.’s largest sales day, seeks to lure online bargain shoppers on Nov. 11.

The Dubai Air Show takes place.

Republican U.S. presidential candidates hold their fourth primary debate of the 2016 election cycle in Milwaukee, Wisconsin, while Democratic candidates hold their second in Des Moines, Iowa.


-Chinese President Xi Jinping and Taiwan’s President Ma Ying-jeou meet in Singapore in the first talks between the countries’ leaders since the civil war ended almost seven decades ago. The meeting comes about two months before a general election in Taiwan. Timing to be determined.

-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 (22:10 EST) in Tempe, Arizona.

-Republican presidential candidate Donald Trump hosts NBC’s “Saturday Night Live" sketch-comedy program. 23:30 in New York.

-ECONOMY: China foreign reserves (Oct.).


-German Chancellor Angela Merkel and European Union President Donald Tusk meet for talks in Berlin. The leaders are likely to discuss the threat to the free movement of people within Europe’s Schengen Area amid the refugee crisis. Timing to be determined.

-Myanmar holds its first general election since 2010 with the opposition National League for Democracy led by Nobel Peace Prize-winner Aung San Suu Kyi seeking to take control from the military and its allies. Timings to be determined.

-Croatia holds a general election. The opposition Croatian Democratic Union has a narrow lead over the ruling Social Democrats in opinion polls. The first exit polls are expected at 19:00 CET (13:00 EST) and results will start to emerge at about 22:00.

-The Dubai Air Show begins and runs through Nov. 10, with Airbus Group SE and Boeing Co. seeking orders from the major Persian Gulf carriers. Business may be more subdued than two years ago, when Boeing pulled in record deals for its new 777X wide-body airliner and Airbus won a sale from Emirates for 50 more A380 superjumbos. Click here for the website and schedule.

-The Sixth Asian Ministerial Energy Roundtable opens in Doha, Qatar. Speakers include Mohammed Al Sada, Qatar’s minister of energy and industry, and Aldo Flores-Quiroga, secretary general of the International Energy Forum. Welcoming remarks at 19:30 (11:30 EST). Through 11/10.

-Exelon Corp. Chief Executive Officer Chris Crane and SunPower Corp. CEO Tom Werner are among the speakers at the 50th Edison Electric Institute Financial Conference. Starts at 11:00 in Hollywood, Florida. Through 11/11.

-Phillips holds its hybrid 20th Century & Contemporary Art Evening Sale. 19:00 in New York.

-ECONOMY: China trade (Oct.)


-Israeli Prime Minister Benjamin Netanyahu meets with U.S. President Barack Obama in his first visit to the White House since October 2014. During the four-day trip, he’s expected to request an increase in military aid from the U.S. to as much as $5 billion per year beginning in 2018 from the current $3.1 billion. The implementation of the Iran nuclear accord, which was opposed by Netanyahu and led to a split between the U.S. and Israel, is also on the agenda.

-Euro-area finance ministers meet to discuss Greece’s economic adjustment program and banking union. Meetings typically begin at 15:00 CET in Brussels (09:00 EST).

-China International Capital Corp., the first Sino-foreign investment bank, is set to begin trading in Hong Kong after raising $811 million in an initial public offering.

-The Financial Stability Board, led by Bank of England Governor Mark Carney, is set to make public its final "total loss-absorbing capacity," or TLAC, rules for systemically important banks around the world. Carney speaks at 08:30 CET in Basel (02:30 EST).

-Cisco Systems Inc. and Arista Networks Inc. are scheduled to square off at the U.S. International Trade Commission in a patent-infringement trial over Ethernet switches in data centers. In the second of two cases brought before the agency, Cisco claims its smaller networking-gear rival created its business around copied and, in some cases, stolen technology. The trial runs through Nov. 20, while the judge hearing the case is scheduled to release findings in April. 09:00 in Washington.

-Federal Reserve Bank of Boston President Eric Rosengren, who will vote on monetary policy next year, discusses the U.S. economic outlook. Noon in Portsmouth, Rhode Island.

-Total SA Chief Executive Officer Patrick Pouyanne and United Arab Emirates Energy Minister Suhail Al Mazrouei are among the speakers at the Abu Dhabi International Petroleum Exhibition & Conference. Through 11/12.

-The U.S. Energy Information Administration releases its Drilling Productivity Report, showing estimates for oil and gas output from the biggest shale formations. 14:00 in Washington.

-LVMH’s answer to the Apple Watch, the TAG Heuer smartwatch, goes on sale at 11:00 in New York.

-Amedeo Modigliani’s 1917 "Nu Couche (Reclining Nude)," estimated at more than $100 million, anchors Christie’s second special sale of 20th-century art in New York.

-The American Enterprise Institute honors Israeli Prime Minister Benjamin Netanyahu, recipient of the 2015 Irving Kristol Award, at its annual dinner. 19:00 in Washington.

-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: Fed labor market conditions index (Oct.), MBA U.S. mortgage foreclosures/mortgage delinquencies (expected week of Nov. 9 for the third quarter), Canada housing starts (Oct.), Mexico inflation (Oct.), German trade (Sept.), Bank of France business sentiment (Oct.), Turkey industrial production (Sept.), Czech CPI (Oct.)

-CENTRAL BANKS: Israel minutes

-EARNINGS: Arch Coal Inc., Dean Foods Co., Scripps Networks Interactive Inc., Priceline Group Inc., Dish Network Corp., Sotheby’s, Continental AG


-Bloomberg’s “The Year Ahead Summit" takes place in New York, with speakers including Bank of America Corp. CEO Brian Moynihan, Credit Suisse Group AG CEO Tidjane Thiam and Allergan Plc CEO Brent Saunders. Click here for agenda.

-The International Energy Agency publishes its annual World Energy Outlook, with analysis of the impact of low oil prices, India’s energy sector and renewable energy. 11:00 CET (05:00 EST) in Paris.

-European Union finance ministers meet to discuss funding related to climate-change issues and capital-markets union. Expected to begin at 09:00 CET in Brussels (03:00 EST).

-European Central Bank Supervisory Board Chair Daniele Nouy speaks at the 16th annual Handelsblatt conference on “New Developments in Banking Supervision.” 09:15 CET in Frankfurt (03:15 EST).

-Bank of Finland Governor Erkki Liikanen speaks to lawmakers and media on the euro-area economy and ECB monetary policy. 12:00 in Helsinki (05:00 EST).

-ECB Executive Board member Benoit Coeure speaks at the second French German Business Forum organized by Handelsblatt and Les Echos. 12:15 CET in Berlin (06:15 EST).

-The U.S. Supreme Court hears arguments in a Tyson Foods Inc. case that could put new restrictions on class-action lawsuits. 10:00 in Washington.

-Rite Aid Corp. Chief Executive John Standley, Anthem Inc. CEO Joe Swedish and Perrigo Co. CEO Joseph Papa are among the speakers at the Credit Suisse Healthcare Conference. Through 11/11 in Scottsdale, Arizona.

-Broadcom Corp. shareholders vote on the $37 billion acquisition by Avago Technologies Ltd. The May deal was the technology industry’s biggest-ever takeover before Dell Inc. agreed to buy EMC Corp. for $67 billion last month. 11:00 (14:00 EST) in Irvine, California.

-McDonald’s Corp. holds an investor meeting and webcast, during which the global fast-food chain is expected to discuss its turnaround efforts, including the early performance of its all-day breakfast menu. 13:00 in New York.

-U.S. Treasury Secretary Jacob J. Lew, Securities and Exchange Commission Chair Mary Jo White and Commodity Futures Trading Commission Chairman Timothy Massad are among the speakers at the Securities Industry and Financial Markets Association’s annual meeting, the Capital Markets Conference, in Washington. Click here for program.

-Republican U.S. presidential candidates hold their fourth debate of the 2016 election cycle in Milwaukee, Wisconsin. Hosted by Fox Business Network and the Wall Street Journal, the debate will focus on the economy and begins at (20:00) 21:00 EST.

-Sotheby’s will offer a collection of Swatch watches dating back to the 1980s along with prototypes, technical drawings, sketches, dials and cases at an auction in Geneva. About 14:30 CET (08:30 EST).

-ECONOMY: NFIB U.S. small business optimism (Oct.), U.S. import prices (Oct.), U.S. wholesale inventories (Sept.), China consumer inflation (Oct.), Japan current account balance (Sept.), French industrial production (Sept.), South Africa manufacturing production (Sept.), Slovakia industrial production (Sept.), Hungary CPI (Oct.), Slovenia industrial production (Sept.)

-EARNINGS: D.R. Horton Inc., Rockwell Automation Inc., Vodafone Group Plc, Sumitomo Metal Mining Co., Mitsubishi Materials Corp., San Miguel Corp., Vivendi SA, National Grid Plc.


-Veterans Day, the federal holiday recognizing the service of U.S. military veterans, is observed. U.S. stock markets will be open, while bond markets will be closed.

-The Bank of England holds an all-day Open Forum conference on the reform of financial markets. Speakers include ECB President Mario Draghi and BOE Governor Mark Carney. Starts at 09:00 in London (04:00 EST).

-Singles’ Day. The Chinese online shopping event, Alibaba Group Holding Ltd.’s biggest sales day, seeks to lure bargain shoppers after last year’s promotion attracted almost five times the sales of Cyber Monday in the U.S.

-EU and African leaders hold a two-day summit on the migrant crisis facing Europe. Starts at 15:45 CET in Valletta, Malta (09:45 EDT), and reconvenes mid-morning on Thursday. Followed by an EU-only summit on migration policy later on Thursday.

-German Finance Minister Wolfgang Schaeuble speaks on the future of European integration at the European School of Management and Technology. 19:00 CET in Berlin (13:00 EST).

-Republican U.S. presidential candidate Ben Carson addresses a convocation at Liberty University in Lynchburg, Virginia. The evangelical Christian school was founded in 1971 by the late Rev. Jerry Falwell. 10:00.

-"The Blue Moon,” a 12.03-carat blue diamond, is put on the block by Sotheby’s in an auction that may fetch as much as $35 million. In Geneva.

Blue Moon diamond

Photographer: Chris Goodney/Bloomberg

-ECONOMY: U.S. MBA mortgage applications (weekly), Mexico industrial production (Sept.), China industrial production (Oct.), U.K. unemployment (Oct.), Turkey current account balance (Sept.), Portugal CPI (Oct.)

-EARNINGS: ADT Corp., Macy’s Inc., JBS SA, EON SE, Carlsberg A/S, Deutsche Post AG, Endesa SA, Pirelli & C. SpA, Koninklijke Ahold NV, UniCredit SpA, Henkel AG


-Indian Prime Minister Narendra Modi holds talks with his British counterpart, David Cameron, during a visit to London. The talks are expected to cover Asian regional issues, terrorism and climate change. Modi’s visit continues Friday with a lunch with Queen Elizabeth II and an address to more than 50,000 members of the Indian diaspora at an afternoon event at London’s Wembley Stadium. Timings to be determined.

-ECB President Mario Draghi speaks at the quarterly hearing of European Parliament’s Committee on Economic and Monetary Affairs. He’ll later address the committee in his role as chairman of the European Systemic Risk Board. 09:30 CET in Brussels (03:30 EST).

-The Organization of Petroleum Exporting Countries publishes its Monthly Oil Market Report. Timing to be determined in Vienna.

-Federal Reserve Bank of St. Louis President James Bullard speaks at the "Rethinking Monetary Policy" conference hosted by the Cato Institute at 09:05 in Washington. Federal Reserve Bank of Richmond President Jeffrey Lacker participates at 09:45.

-Federal Reserve Bank of Chicago President Charles Evans discusses U.S. monetary policy and the economic outlook at the National Communities Council Fall Leadership Forum. 09:15 (10:15 EST) in Chicago.

-Federal Reserve Bank of New York President William Dudley discusses the U.S. economic outlook and what it means for monetary policy at The Economic Club of New York. 12:15.

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

-ECONOMY: U.S. jobless claims (weekly), U.S. job openings & labor turnover survey (Sept.), U.S. Bloomberg consumer comfort (weekly), U.S. budget statement (Oct.), Canada new housing price index (Sept.), Brazil retail sales (Sept.), Australian employment (Oct.), euro-area industrial production (Sept.), South Africa mining production (Sept.), Russia GDP may be released (third quarter).

-CENTRAL BANKS: South Korea rate decision, Chile rate decision, Peru rate decision, Philippines rate decision, Serbia rate decision

-EARNINGS: Advance Auto Parts Inc., Encana Corp., Manulife Financial Corp., Cisco Systems Inc., Nordstrom Inc., Applied Materials Inc., Kohl’s Corp., Viacom Inc., Banco do Brasil SA, Repsol SA, United Co. Rusal, RWE AG, Enel SpA, Siemens AG, Merck KGaA, Aegon NV, SABMiller Plc


-Retail sales probably picked up in October from a month earlier, highlighting resilient U.S. consumer spending that’s helping drive the economy, economists project the Commerce Department will report. 08:30 in Washington.

-Consumer sentiment in the U.S. probably rose in November from a month earlier, helped in part by recent stock-market gains, figures from the University of Michigan are forecast to show. 10:00 EST.

-Eurostat releases its first estimate of euro-area third-quarter growth. Economists predicted last month that gross domestic product increased 0.4 percent in the July-September period. 11:00 CET in Luxembourg (05:00 EST). The euro-area data is preceded by the French, German and Italian reports.

-Republican U.S. presidential candidates speak at the “Sunshine Summit" in Orlando, Florida, beginning with Marco Rubio at 11:30.

-The International Energy Agency issues its monthly Oil Market Report with the latest forecasts for global oil supply and demand. 10:00 CET in Paris (04:00 EST).

-Federal Reserve Bank of Cleveland President Loretta Mester discusses the U.S. economic outlook and monetary policy at the City Club of Cleveland. 12:30 EST.

-Ex-Anglo Irish Bank Corp. Chief Executive Officer David Drumm appears in Boston federal court for an extradition hearing. Drumm faces charges, including forgery and conspiracy to defraud, relating to the period he was working at the bank before it was seized by the state in 2009. 10:00.

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

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

-ECONOMY: U.S. producer prices (Oct.), U.S. business inventories (Sept.), Argentina national urban inflation (Oct.), Hong Kong GDP (third quarter), Malaysia GDP (third quarter), euro-area trade (Sept.), Czech GDP (third quarter), Hungary GDP (third quarter), Slovakia GDP (third quarter), Poland GDP (third quarter), Poland CPI (Oct.)

-EARNINGS: Tyco International Plc, Bouygues SA, J.C. Penney Co.

-SOVEREIGN RATING UPDATES: Armenia (Moody’s), Austria (DBRS), Croatia (Moody’s), Cyprus (Moody’s), Egypt (S&P), Georgia (S&P), Greece (Fitch), Italy (S&P), Montenegro (S&P), Namibia (Fitch), Netherlands (Fitch), Portugal (DBRS)


-Republican U.S. presidential candidates speak at the “Sunshine Summit" in Orlando, Florida, beginning with Rick Santorum at 11:00.

-Democratic U.S. presidential candidates participate in their second debate of the 2016 election cycle at Drake University in Des Moines, Iowa. The Democratic National Committee’s only sanctioned debate in Iowa prior to the state’s first-in-the-nation caucuses on Feb. 1 will be broadcast by CBS News at 20:00 (21:00 EST).