U.S. CPI, B0J, Draghi, G-20, ATP Tennis: Week Ahead Nov. 14-21

  • Ackman, Dimon Participate in Robin Hood Investors Conference
  • Drug-price increases will be the subject of a U.S. HHS forum

Cheap fuel, a strong dollar and retail discounting probably kept U.S. consumer prices little changed in October from a year ago as inflation remains well below the 2 percent goal of Federal Reserve policy makers, data in the coming week may show.

U.S. CPI YoY

Japan, Indonesia and South Africa set interest rates.

European Central Bank President Mario Draghi speaks at Euro Finance Week, a gathering of financiers, regulators and policy makers in Frankfurt.

World leaders including U.S. President Barack Obama, Russian President Vladimir Putin and Xi Jinping of China attend a Group of 20 summit in Turkey.

Wal-Mart Stores Inc., Home Depot Inc. and Target Corp. are among companies reporting earnings.

The men’s tennis ATP World Tour Finals begin in London.

SATURDAY, NOV. 14

-U.S. President Barack Obama departs for a two-day summit with leaders of the Group of 20 nations in Antalya, Turkey. The conflict in Syria and its ensuing refugee crisis will dominate an agenda that also includes climate change and the global economy. Timings to be determined.

-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 Hillary Clinton, Bernie Sanders and Martin O’Malley 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).

-Russian Foreign Minister Sergei Lavrov and U.S. Secretary of State John Kerry lead a second day of talks on ending Syria’s civil war. The latest round of talks, the third in three weeks, will be held in Vienna through Sunday and start at about 10:00 CET (04:00 EST).

-Iranian President Hassan Rouhani begins a two-day visit to Italy, where he’s expected to meet Prime Minister Matteo Renzi and Italian business leaders, as well as Pope Francis at the Vatican. Timings to be determined.

SUNDAY, NOV. 15

-G-20 summit. World leaders including U.S. President Barack Obama, Russian President Vladimir Putin and Xi Jinping of China attend the two-day Group of 20 summit hosted by Turkish President Recep Tayyip Erdogan. Official welcomes begin on at noon in Antalya, Turkey (05:00 EST). The summit concludes at about 15:00 on Monday and will be followed by press conferences.

-Argentine ruling party candidate Daniel Scioli and the opposition’s Mauricio Macri participate in a presidential debate ahead of the country’s Nov. 22 runoff election. Macri, who trailed Scioli in the first round by 3 percentage points, is leading in recently published polls for the runoff. 21:00 (19:00 EST) in Buenos Aires.

-ECONOMY: Israel CPI (Oct.).

-The ATP World Tour Finals begin in London. The world’s top eight players face each other in the season’s finale. World No. 1 Novak Djokovic is the defending champion and favorite. Through 11/22.

MONDAY, NOV. 16

-Japanese gross domestic product barely shrank in the third quarter after contracting at a 0.3 percent rate in the previous three months, according to the median estimate of economists. The data will be released at 08:50 in Tokyo (11/15 18:50 EST).

-President Barack Obama may hold a news conference at the conclusion of the G-20 summit in Turkey before departing for the four-day Asia-Pacific Economic Cooperation forum in Manila. Philippine President Benigno Aquino gives the keynote speech to APEC attendees including leaders of nations that are part of the U.S.-backed Trans-Pacific Partnership trade agreement. Timings to be determined.

-Euro Finance Week in Frankfurt. The annual gathering of central bankers, financiers, regulators and politicians features speakers including European Central Bank President Mario Draghi and Vice President Vitor Constancio, Deutsche Bank AG co-CEO Juergen Fitschen, Deutsche Boerse AG CEO Carsten Kengeter, Bafin President Felix Hufeld and UBS AG Chairman Axel Weber. Click here for the schedule. Through 11/20.

-The U.S. House of Representatives is tentatively scheduled to vote this week on a measure that would cap the pay of the chief executive officers of Fannie Mae and Freddie Mac, the mortgage lenders operating under the conservatorship of the Federal Housing Finance Agency since their seizure by the government during the 2008 credit crisis. The U.S. Senate unanimously passed a bill in September to cap the pay at $600,000.

-Iranian President Hassan Rouhani visits Paris, where he will address UNESCO, the United Nations agency that promotes education and freedom of expression. He meets with French President Francois Hollande on Tuesday. Timings to be determined.

-European Union foreign ministers meet at 10:00 CET (04:00 EST) in Brussels to discuss Syria, including the flow of refugees into Europe.

-Ukraine’s statistics office releases preliminary third-quarter gross domestic product data. Economists expect a 9.5 percent contraction, slowing from a 14.6 percent drop in the second quarter. Timing to be determined.

-The Robin Hood Investors Conference takes place in New York presented by JPMorgan Chase & Co. Pershing Square Capital Management founder Bill Ackman, JPMorgan CEO Jamie Dimon and Tudor Investment Corp. founder Paul Tudor Jones are among the scheduled speakers at the two-day gathering. Click here for the agenda.

-Adobe Systems Inc., Microsoft Corp. and Cisco Systems Inc. are among the companies participating in the UBS Global Technology Conference. In San Francisco through 11/18. Click here for agenda.

-Historian Walter Isaacson gives the keynote address at the “Innovation in the Digital Revolution" dinner to kick off the Clearing House Annual Conference. Bank of America Corp. CEO Brian Moynihan, Federal Reserve Governor Jerome Powell and Federal Reserve Bank of New York President William Dudley are also among the scheduled speakers during the three-day conference in New York. Click here for the program.

-Hasbro Inc. investor day. The world’s second-largest publicly-traded toymaker hosts a meeting where executives will lay out plans and financial goals. At this event in the past, the company has given long-term financial guidance for sales and earnings. 10:00 in Pawtucket, Rhode Island.

-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: Empire State factory index (Nov.), Canada existing home sales (Oct.), Thailand GDP (third quarter), euro-area CPI (Oct.), U.K. Rightmove house prices (Nov.), Turkey unemployment rate (Aug.), Israel GDP (third quarter)

-CENTRAL BANKS: Ghana rate decision

-EARNINGS: Agilent Technologies Inc., Urban Outfitters Inc., JD.com Inc., KBC Groep

TUESDAY, NOV. 17

-U.S. consumer prices climbed in October for the first time in three months, a Labor Department report is projected to show. While rising rents probably contributed to the gain, cheaper fuel, the stronger dollar and retailer discounting are keeping inflation well below the 2 percent goal of Federal Reserve policy makers. 08:30 in Washington.

-Industrial production in the U.S. probably barely improved in October, the first gain in three months, as manufacturing showed signs of stabilizing, according to forecasts before a Federal Reserve report. Output at factories, mines and utilities may have been limited by further weakness in oil and gas well drilling. 09:15 in Washington.

-Ministers from 29 members of the International Energy Agency gather in Paris for their biennial meeting on strategic priorities for the organization. The meeting runs through tomorrow and will be chaired by U.S. Energy Secretary Ernest Moniz.

-Canadian Pacific Railway Ltd. is likely to be asked about a possible takeover of Norfolk Southern Corp. when Chief Operating Officer Keith Creel speaks at the ScotiaBank Transportation & Aerospace Conference at 09:00 in Toronto.

-The Federal Reserve Bank of Chicago holds its annual agriculture conference with the bank’s senior business economist, David Oppedahl, giving opening remarks. 09:00 (10:00 EST) in Chicago.

-Monsanto Co. holds its biennial investor event in St. Louis, Missouri, where company executives including Chief Executive Officer Hugh Grant will discuss strategic initiatives and the growth outlook for the world’s largest seed company. 13:00 (14:00 EST). Through 11/18.

-Puerto Rico’s legislative year officially ends today, with lawmakers considering bills that could include fiscal measures aimed at addressing the Commonwealth’s economic crisis. The governor could still call a special session later in the year. 

-Former Federal Reserve Chairman Ben Bernanke and Fed Governor Daniel Tarullo speak at the Brookings Institution panel, “Are we safer? A look at the financial system, post-crisis." Bernanke gives opening remarks at 13:30. In Washington.

-Bank of America Corp. CEO Brian Moynihan is scheduled to open the Bank of America Merrill Lynch Banking & Financial Services Conference in New York. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley will be among the participating companies. Through 11/18.

-The cabinet of Catalonia’s government meets in Barcelona for the first time since Spain’s highest court blocked the region’s move toward independence, a ruling that Catalan President Artur Mas has rejected. Press conference expected at about 13:00 CET (07:00 EST).

-European Union defense ministers meet at 10:30 CET (04:30 EST) in Brussels.

-United Nations inspectors publish their quarterly report on Iran’s nuclear program at 16:00 CET (10:00 EST) in Vienna. The International Atomic Energy Agency’s review will give insight into Iranian compliance with the nuclear accord reached earlier this year.

-Electronic Arts Inc. releases its “Star Wars Battlefront” video game in the U.S. for PlayStation 4, Xbox and Origin on PC, ahead of the seventh Star Wars film. Walt Disney Co.’s “Star Wars: The Force Awakens” debuts in movie theaters on Dec. 18.

-Brazil’s Congress is scheduled to vote on presidential vetoes of spending bills that could cause the government’s budget deficit -- already at 9% of GDP -- to balloon further out of control. Among the bills President Dilma Rousseff vetoed is one that would increase salaries for judicial workers by up to 78%. Voting is scheduled to start at 19:00 in Brasilia (16:00 EST).

-ECONOMY: U.S. NAHB homebuilder confidence (Nov.), U.S. net foreign securities purchases (Sept.), Nigeria CPI (Oct.), German ZEW Survey (Nov.), U.K. CPI (Oct.)

-CENTRAL BANKS: RBA meeting minutes, Indonesia rate decision, Hungary rate decision, Kenya rate decision

-EARNINGS: Home Depot Inc., Wal-Mart Stores Inc., TJX Cos., EasyJet Plc

WEDNESDAY, NOV. 18

-Housing starts in the U.S. probably slipped in October as builders eased up on construction after breaking ground a month earlier at the second-fastest pace in eight years, economists forecast the Commerce Department will report. 08:30 in Washington.

-Federal Reserve Bank of New York President William Dudley, Fed Bank of Atlanta President Dennis Lockhart and Fed Bank of Cleveland President Loretta Mester speak on a panel at the Clearing House Annual Conference. 08:00 in New York.

-China Europe International Exchange begins trading. Deutsche Boerse AG, Shanghai Stock Exchange and China Financial Futures Exchange launch their new derivatives market in Frankfurt. The exchange will herald a substantial increase in the number of yuan-denominated financial products available to European investors.

-The Republican Governors Association holds its annual conference. In Las Vegas through Thursday.

-Federal Reserve Bank of Dallas President Rob Kaplan gives “A Discussion of Economic Conditions and Federal Reserve Policy" at the University of Houston. 11:00 (noon EST).

-The Los Angeles Auto Show opens to the media. New models to be revealed include the Nissan Sentra and Buick LaCrosse. The show at the Los Angeles Convention Center opens to the public on Friday at 09:00 (noon EST).

-Square Inc. seeks a market valuation of as much as $4.2 billion as the San Francisco-based mobile-payments startup is expected to price shares in its U.S. initial public offering. The company plans to trade on the New York Stock Exchange under the symbol “SQ."

Martin Johnson Heade's "The Great Florida Sunset."

Source: Sotheby's

-Martin Johnson Heade’s “The Great Florida Sunset" will be the highlight of Sotheby’s special American Art sale from the collection of A. Alfred Taubman, the late shopping mall mogul and philanthropist who once served as the auction house’s chairman. The 1887 painting is estimated at $7 million to $10 million. 18:30 in New York.

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

-ECONOMY: U.S. MBA mortgage applications (weekly), Chile GDP (third quarter), Colombia retail sales (Sept.), South Africa CPI (Oct.), South Africa retail sales (Sept.)

-CENTRAL BANKS: Fed’s Oct. 27-28 meeting minutes

-EARNINGS: Target Corp., Lowe’s Cos., L Brands Inc., Keurig Green Mountain Inc., NetApp Inc., Salesforce.com Inc., Staples Inc.

THURSDAY, NOV. 19

-The Bank of Japan will announce monetary policy at the end of a two-day meeting in Tokyo. The meeting usually ends at about midday and is followed by a press conference with Governor Haruhiko Kuroda at 15:30 in Tokyo (01:30 EST).

-The European Central Bank publishes an account of its Oct. 22 monetary policy meeting. 13:30 CET in Frankfurt (07:30 EST).

-Precision Castparts Corp. shareholders vote on the planned $31.7 billion takeover by Warren Buffett’s Berkshire Hathaway Inc. 09:00 (Noon EST) in Portland, Oregon.

-Intel Corp. Chief Executive Officer Brian Krzanich is among the speakers at the world’s largest chipmaker’s investor meeting. 08:00 (11:00 EST) in Santa Clara, California.

-Cisco Systems Inc. holds its first annual shareholders meeting under Chuck Robbins, who succeeded John Chambers as chief executive officer of the networking-equipment maker in July. 10:00 (13:00 EST) in San Jose, California.

-Swiss National Bank board member Andrea Maechler speaks to money-market managers in Geneva. 18:30 CET (12:30 EST).

-Federal Reserve Bank of Atlanta President Dennis Lockhart speaks to the DeKalb Chamber of Commerce. 12:30 in Atlanta.

-Power companies including Duke Energy Corp. and NRG Energy Inc. are scheduled to present at the two-day Platts California Power and Gas Conference in San Francisco. 08:45 (11:45 EST). Click here for agenda.

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

-ECONOMY: U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly & Nov. expectations), U.S. Philadelphia Fed manufacturing (Nov.), U.S. leading economic indicators (Oct.), Canada wholesale sales (Sept.), Brazil IPCA-15 inflation (Nov.), Brazil unemployment (Oct.), Japan trade data (Oct.), Russia retail sales (Oct.), Russia unemployment rate (Oct.), U.K. retail sales (Oct.)

-CENTRAL BANKS: South Africa rate decision

-EARNINGS: JM Smucker Co., Best Buy Co., Ross Stores Inc., Intuit Inc., Gap Inc., Autodesk Inc., ThyssenKrupp AG

FRIDAY, NOV. 20

-Draghi at Euro Finance Week. ECB President Mario Draghi and Bundesbank President Jens Weidmann make keynote speeches at the Frankfurt banking congress at about 09:00 CET (03:00 EST) and 11:15 CET, respectively. Commerzbank AG CEO Martin Blessing and German Finance Minister Wolfgang Schaeuble also take part in a panel discussion shortly after 11:15 CET. Click here for the schedule.

-Deadline for the U.S. House and Senate to resolve differences between their proposals and pass a six-year highway funding measure. The current short-term funding measure expires at the end of the day. The bills passed by both chambers would also revive the U.S. Export-Import Bank.

-Federal Reserve Bank of St. Louis President James Bullard speaks to the Fort Smith Chamber of Commerce at the University of Arkansas Fort Smith. 08:00 (09:00 EST).

-The U.S. Health and Human Services Department holds a forum on drug prices that will also be webcast live. Both chambers of Congress are probing the issue after Valeant Pharmaceuticals International Inc. and Turing Pharmaceuticals increased prices for older drugs that their companies acquired. Begins at 09:00 in Washington.

-German Chancellor Angela Merkel delivers a speech in Munich at 17:00 CET (11:00 EST) to the Christian Social Union party, the Bavarian wing of her governing coalition that’s been highly critical of her open-door policy toward migrants and refugees.

-Bank of Japan Governor Haruhiko Kuroda will give a speech at the reopening of the central bank’s money museum. 16:00 in Tokyo (02:00 EST).

-The Family Leader, a conservative Christian group, hosts Republican presidential candidates including Ben Carson, Ted Cruz, Carly Fiorina and Marco Rubio at a roundtable forum in Des Moines, Iowa. Designed to be a conversation and moderated by pollster Frank Luntz, the event will feature the candidates seated family style around a table. 18:30 (19:30 EST).

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

-ECONOMY: U.S. Kansas City Fed manufacturing (Nov.), Canada retail sales (Sept.), Canada CPI (Oct.), Mexico GDP (third quarter), Argentina economic activity indicator (Sept.), euro-area consumer confidence (Nov.)

-SOVEREIGN RATING UPDATES: Denmark (Moody’s), Estonia (Fitch & Moody’s), Greece (Moody’s), Hungary (Fitch), Netherlands (S&P), Oman (S&P), Serbia (Moody’s), Switzerland (S&P), Uganda (Moody’s).

SATURDAY, NOV. 21

-U.S. President Barack Obama and Japanese Prime Minister Shinzo Abe attend the Association of Southeast Asian Nations summit in Kuala Lumpur. Trade and maritime security, including China’s territorial claims in the South China Sea, will be on the agenda. Timings to be determined.

-Federal Reserve Bank of San Francisco President John Williams, a voting member of the Federal Open Market Committee this year, participates in a panel discussion of U.S. monetary policy developments. 09:00 in Berkeley, California (noon EST).

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