U.S. Jobs Data, Fed Minutes, Monsanto, NFL: Week Ahead Jan. 2-9

  • CTA's Consumer Electronics Show Takes Place in Las Vegas
  • Bill Clinton to Campaign for Wife Hillary in New Hampshire

Employers in the U.S. probably added about 200,000 workers to their payrolls in December as the unemployment rate held at a seven-year low, data in the coming week probably will show.

Manufacturing in the world’s biggest economy contracted in December at a slower pace than in the prior month, while service industries expanded, separate reports are likely to indicate.

The minutes of the December Federal Open Market Committee meeting will be released, possibly giving clues on the timing of the next U.S. interest-rate move.

China will double the yuan’s onshore trading hours as it prepares for the currency’s addition to the International Monetary Fund’s reserves basket.

Monsanto Co.Constellation Brands Inc. and Walgreens Boots Alliance Inc. are among companies releasing earnings.

The U.S. National Football League playoffs begin.


-The annual American Economic Association conference starts at 17:30 in San Francisco (20:30 EST) and runs through Jan. 5. U.S. Federal Reserve Presidents John C. Williams and Loretta J. Mester are among the speakers. Click here for the schedule.


-San Francisco Federal Reserve Bank President John C. Williams is the first Federal Reserve official to make public remarks in 2016. He speaks on a panel discussing monetary policy and the neutral level of real interest rates. Stanford University’s John Taylor is also on the panel, which is part of the American Economic Association’s annual meetings in San Francisco. 08:00 (11:00 EST).

-Cleveland Federal Reserve Bank President Loretta Mester takes part in a panel discussion on the U.S. and global economic outlook at the annual meeting of the American Economics Association in San Francisco. 14:30 (17:30 EST).

-Catalonia’s anti-capitalist CUP party votes on whether to support a new term in office for Catalan President Artur Mas. CUP backing is key if Mas is to form a new separatist government to pursue his bid for independence from Spain. Timing in Barcelona to be determined.

-ECONOMY: Israel foreign-currency balance (Dec.).


-Manufacturing in the U.S. probably contracted in December at a slower pace than in the prior month, indicating the damage from the slump in oil-industry investment and drop in exports is starting to abate. Figures from the Institute of Supply Management are due at 10:00 EST.

-Federal Reserve Bank of San Francisco President John C. Williams will speak at the American Economic Association meeting in San Francisco on a panel titled "The Implementation of Macroprudential Policies by Central Banks." 14:30 (17:30 EST).

-Former President Bill Clinton stumps for his wife, Democratic presidential candidate Hillary Clinton, in New Hampshire. This is the first campaign barnstorming on behalf of his wife in the 2016 campaign. Timing to be determined.

-Puerto Rico and its agencies owe almost $1 billion in interest payments on Jan. 1, including $357 million on general-obligation debt that the Caribbean island’s constitution says must be paid before everything else. Officials have until late on Jan. 4 because of the New Year holiday. Puerto Rico Governor Alejandro Garcia Padilla said the commonwealth will default on about $37 million in bond payments due on Jan. 1, escalating a conflict with investors as the island seeks to restructure its $70 billion debt burden.

-Brazil has about $38 billion of local and foreign bonds coming due in the first two business days of 2016. It’s the biggest monthly debt payout for the country until 2020, coming as borrowing costs for Latin America’s biggest economy have climbed.

-China will double the yuan’s onshore trading hours as it prepares for the currency’s addition to the IMF’s reserves basket in October. Trading will be extended to 23:30 Beijing time (10:30 EST) starting from Jan. 4, according to a statement posted on the central bank’s website.

-The U.S. Commodity Futures Trading Commission releases its weekly report on futures and options positions. 15:30 in Washington.

-U.S. government bond auctions, Fed debt purchases. Click here for the schedule.

-U.S. initial public stock offerings. Click here for the schedule.

-ECONOMY: U.S. Markit manufacturing PMI (Dec. final), U.S. construction spending (Nov.), Singapore GDP (fourth-quarter), Caixin China Manufacturing PMI (Dec.), Hong Kong retail sales (Nov.), Nikkei Taiwan Manufacturing PMI (Dec.), Germany CPI (Dec.), euro-area manufacturing PMI (Dec.), U.K. mortgage approvals (Nov.), U.K. manufacturing PMI (Dec.), Hungary manufacturing PMI (Dec.), Poland manufacturing PMI (Dec.), Poland CPI (Dec.), Czech manufacturing PMI (Dec.), budget balance (Dec.), Turkey CPI (Dec.).


-The American Petroleum Institute holds its annual “State of American Energy” event in Washington. API President Jack Gerard will deliver the keynote address. 11:30.

-Southern Co. is expected to file a new cost estimate for its long-delayed Kemper coal-gasification plant in Mississippi. Timing to be determined.

-ECONOMY: U.S. Motor Vehicle Sales (Dec.), Colombia inflation (Dec.), Taiwan foreign reserves (Dec.), German unemployment (Dec.), Portugal consumer confidence (Dec.), euro-area inflation (Dec.), Spain unemployment (Dec.), Hungary unemployment rate (Nov.), Ukraine CPI (Dec.).


-The U.S. Federal Reserve releases the minutes from the Dec. 15-16 Federal Open Market Committee meeting at which rates were raised for the first time in almost a decade. 14:00 EST.

-U.S. service industries probably expanded in December at about the same rate as a month earlier, a gauge from the Institute for Supply Management is forecast to show. While the pace of growth has cooled, the report will show the economy is weathering a manufacturing slowdown. 10:00 EST in Washington.

-The Consumer Electronics Show takes place in Las Vegas from Jan. 6-9. The Show is owned and produced by the Consumer Technology Association (CTA), which represents the $285 billion U.S. consumer technology industry. Keynote speakers this year include Brian M. Krzanich, CEO of Intel Corp., Reed Hastings, CEO of Netflix Inc., Mary T. Barra, CEO of General Motors Co. and Ginni Rometty, CEO of IBM Corp.

-German Chancellor Angela Merkel and U.K. Prime Minister David Cameron are among the guest speakers at the annual retreat of Bavaria’s ruling Christian Social Union party, which is part of Merkel’s governing coalition, at Wildbad Kreuth, Germany. Cameron is renegotiating Britain’s European Union membership terms. Merkel will make a statement on her arrival at about 17:00 CET (11:00 EST).

-Philip Dilley, chairman of the Environment Agency, the U.K. government body responsible for flood defenses, is questioned by the House of Commons Environment Committee about flooding in northwest England over the holiday period. Dilley drew criticism for being absent on vacation in Barbados. 15:15 in London (10:15 EST).

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

-ECONOMY: U.S. ADP employment change (Dec.), U.S. trade deficit (Nov.), U.S. factory orders (Nov.), U.S. Markit services PMI (Dec. final), U.S. MBA mortgage applications (weekly), Caixin China Services PMI (Dec.), Caixin China Composite PMI (Dec.), Taiwan CPI (Dec.), Taiwan WPI (Dec.), Markit Germany Services PMI (Dec.), Markit Germany Composite PMI (Dec.), euro-area services PMI (Dec.), U.K. services PMI (Dec.), Kazakh CPI (Dec.).

-EARNINGS: Monsanto Co.


-Federal Reserve Bank of Richmond President Jeffrey Lacker will deliver a speech on the 2016 economic outlook at an event hosted by the Great Raleigh Chamber of Commerce. Click here for the schedule in Raleigh, North Carolina.

-Federal Reserve Bank of Chicago President Charles Evans speaks on the economic outlook and monetary policy at the Wisconsin Economic Forecast Luncheon in Madison, Wisconsin. Click here for the schedule.

-German Chancellor Angela Merkel and Romanian Prime Minister Dacian Ciolos brief reporters after a meeting in Berlin at about 13:45 CET (07:45 EST). Merkel also delivers a speech on economic topics at a local industry and trade chamber reception at 18:00 CET.

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

-ECONOMY: U.S. Bloomberg consumer comfort (weekly), U.S. Jobless Claims (Weekly), U.S. Challenger job-cut announcements (Dec.), Brazil industrial production (Nov.), Mexico inflation (Dec.), China foreign reserves (Dec.), Hong Kong foreign reserves (Dec.), Germany factory orders (Nov.), Markit Germany construction PMI (Dec.), euro-area economic confidence (Dec.), euro-area unemployment rate (Nov.), Swiss foreign-currency reserves (Dec.), Romania retail sales (Nov.), Hungary retail sales (Nov.).

-EARNINGS: Constellation Brands Inc., Walgreens Boots Alliance Inc., Bed Bath & Beyond Inc., Fast Retailing Co.

-CENTRAL BANKS: Romania rate decision.


-U.S. employers probably added about 200,000 jobs in December as the unemployment rate held at a seven-year low of 5 percent and worker pay accelerated, the Labor Department is forecast to report. An increase in December payrolls of that magnitude would cap a year in which about 2.5 million jobs were created after 3.1 million in 2014. Average hourly earnings are projected to increase 2.8 percent from the same month a year earlier, the biggest gain since June 2009. 08:30.

-San Francisco Federal Reserve President John C. Williams will give an outlook speech to the California Association of Bankers in Santa Barbara, California. His remarks will be the first by a Fed official following the U.S. employment report. 08:30 (11:30 EST).

-Federal Reserve Bank of Richmond President Jeffrey Lacker delivers his economic outlook at an event hosted by the Maryland Bankers Association in Baltimore. Click here for the schedule.

-The Mexico Autonomous Institute of Technology in Mexico City holds a seminar on the economic outlook for 2016. The event features speeches by Finance Minister Luis Videgaray and central bank Governor Agustin Carstens. 09:00 in Mexico City (10:00 EST). Click here for agenda.

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

-U.S. Commodity Futures Trading Commission weekly report on futures and options positions for oil. 15:30.

-ECONOMY: U.S. wholesale inventories (Nov.), U.S. consumer credit (Nov.), Brazil IPCA inflation (Dec.), China exports, imports, trade balance (Dec.) from 01/08 to 01/15, China foreign direct investment (Dec.), Taiwan exports, imports, trade balance (Dec.), Germany trade balance (Nov.), Portugal trade balance (Nov.), South Africa gross and net reserves (Dec.), German industrial production (Nov.), French industrial production (Nov.), U.K. trade balance (Nov.), Czech industrial output (Nov.), Hungary industrial production (Nov.), Bulgaria retail sales (Nov.).


-At least six U.S. Republican presidential candidates will attend a forum on poverty sponsored by the Jack Kemp Foundation. Jeb Bush, Ben Carson, Chris Christie, Carly Fiorina, John Kasich and Marco Rubio have said they will attend the event, which will be held in Columbia, South Carolina. Timing to be determined.

-The National Football League playoffs begin. At the start of Week 17 in the American Conference the New England Patriots have the best record with 12 wins and 3 losses. In the National Football Conference the Carolina Panthers have the best record with 14 wins and 1 loss.

-ECONOMY: China CPI, PPI (Dec.).

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