U.S. Jobs Data, Iowa Caucuses, BOE: Week Ahead Jan. 30-Feb. 6

  • Swiss banks, Exxon, GM, Itau, LVMH, Pfizer release earnings
  • Republicans, Democrats hold first nominating contests of 2016

Employers in the U.S. took on fewer workers in January than a month earlier, while the unemployment rate held at 5 percent, data in the coming week probably will show.

Jobs Growth

Sources: U.S. Bureau of Labor Statistics & Bloomberg data

U.S. personal spending cooled in December, and manufacturing contracted in January for a third straight month, other reports are likely to indicate.

Iowa holds its Republican and Democratic caucuses, the first nominating contests in the 2016 U.S. presidential campaign.

The African Union holds a heads-of-state summit in Ethiopia.

The U.K., Australia, Mexico and Poland set interest rates. The Bank of England’s quarterly Inflation Report will contain new projections for economic growth and prices.

BNP Paribas SAExxon Mobil Corp., General Motors Co., Pfizer Inc., Royal Dutch Shell Plc and the major Swiss banks are among companies releasing earnings.

The Australian Open tennis finals take place in Melbourne.


-The African Union holds a heads-of-state summit in Addis Ababa, Ethiopia. For detailed information click here. Through Jan. 31.

-United Nations-brokered Syria peace talks are scheduled to continue in Geneva in coming weeks as the international community seeks to end five years of fighting.

-Bank of Italy Governor Ignazio Visco, a European Central Bank Governing Council member, makes the keynote address at the annual meeting of Italian Financial Market Operators in Turin at 11:30 CET (05:30 EST).

-CENTRAL BANKS: Pakistan rate decision

-The Australian Open tennis tournament continues in Melbourne through Sunday. The women’s singles final is on Saturday at 19:30 local time (03:30 EST).

-Preliminary events begin in San Francisco and San Jose for the National Football League’s Super Bowl on Feb. 7. Click here for schedule.


-U.S. Federal Election Commission filing deadline for 2015 year-end campaign finance reports from all presidential campaigns.

-U.K. Prime Minister David Cameron meets European Union President Donald Tusk over dinner amid a diplomatic push to secure new terms for U.K. membership in the bloc ahead of a summit in mid-February. Timing in London to be determined.

-ECONOMY: Israel unemployment rate (Dec.)

-The Australian Open men’s final takes place at 19:30 in Melbourne (03:30 EST).


-Iowa holds the U.S.’s first nominating caucuses in the Republican and Democratic presidential contests. Republicans Donald Trump and Ted Cruz are neck and neck, according to recent polls, while Democrat Bernie Sanders is within striking distance of Hillary Clinton. The winners will have momentum going into the New Hampshire primary on Feb. 9.

-German Finance Minister Wolfgang Schaeuble conducts an on-stage interview with newspaper editors. He may talk about Greece, Europe’s refugee crisis and German politics. 18:30 CET in Dusseldorf (12:30 EST).

-ECB Executive Board members Benoit Coeure, Ewald Nowotny and Jan Smets are among the speakers at a conference in Budapest. The event begins at 10:15 CET (04:15 EST).

-Alberta Enterprise Group and TransCanada Corp. host Jacques Daoust, Quebec minister of economy, innovation and trade. Also in attendance will be a delegation of 25 Quebec firms in the clean-technology and wind-energy industries. Click here for the event details. Daoust will speak at 12:00 in Edmonton, Alberta (14:00 EST.)

-Argentina Finance Secretary Luis Caputo is expected to present a settlement offer to holders of the country’s defaulted debt from 2001. It’s not yet clear whether he will travel to New York for a face-to-face meeting with a mediator and hedge funds including Paul Singer’s Elliott Management or if the group of holdout hedge funds will also propose a settlement plan. The meeting is scheduled for 12:00 in New York City.

-U.S. personal spending probably cooled in December, raising concern that the biggest part of the economy lacked momentum entering 2016, economists project the Commerce Department to report. The data are also forecast to show a gain in personal income. 08:30 in Washington.

-Manufacturing in the U.S. probably contracted in January for a third straight month as industry continued to face weakness in overseas economies, energy cutbacks and limited domestic demand. The Institute for Supply Management will issue the figures at 10:00 in Washington.

-Aung San Suu Kyi will take a step closer to assuming control of Myanmar’s government as the nation’s new parliamentary session begins. While Suu Kyi is constitutionally barred from holding the office of president, she will lead discussions on power sharing with the military.

-Italian Prime Minister Matteo Renzi begins a three-day visit to Nigeria, Ghana and Senegal. Timing to be determined.

-ICE Futures Europe releases its Commitments of Traders report on net speculative positions in Brent crude futures at about 12:45 CET (06:45 EST).

-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: Markit U.S. manufacturing PMI (Jan. final), U.S. construction spending (Dec.), Brazil trade balance (Jan.), South Korea current account (Dec.), South Korea trade (Jan.), Russia PMI (Jan.), Serbia GDP (fourth quarter), Turkey manufacturing PMI (Jan.), U.K. mortgage approvals (Dec.), Markit U.K. manufacturing PMI (Jan.), Markit euro-zone manufacturing PMI (Jan.).

-EARNINGS: Aetna Inc., Alphabet Inc., Mattel Inc., General Growth Properties Inc., Anadarko Petroleum Corp., Tesoro Corp., Julius Baer Group Ltd., BT Group Plc, Ryanair Holdings Plc.


-Federal Reserve Bank of Kansas City President Esther George speaks about the U.S. economic outlook and monetary policy at the Central Exchange, a group that promotes leadership development for women. 11:30 in Kansas City, Missouri (12:30 EST).

-U.S. Secretary of State John Kerry attends a meeting of the anti-Islamic State coalition hosted by Italian Foreign Minister Paolo Gentiloni. News conference at 15:00 CET in Rome (09:00 EST).

-Spain’s King Felipe is scheduled to announced a candidate to form a government after completing a second round of talks following December’s inconclusive election. After 19:00 CET in Madrid (13:00 EST).

-Brazil’s President Dilma Rousseff delivers her annual message to Congress, which reconvenes after a holiday recess. The president, who faces impeachment proceedings in the lower house, will address her legislative priorities for 2016, including proposals to help pull the economy out of recession. 15:00 in Brasilia (noon EST).

-Alberta Energy Minister Margaret McCuaig-Boyd speaks in Calgary at 16:00 (18:00 EST).

-The IFP Energies Nouvelles, a French oil-research center, holds a press briefing on oil, gas and refining trends for 2016. 08:30 CET (12:30 EST).

-CENTRAL BANKS: Australia rate decision.

-ECONOMY: U.S. auto sales (Jan.), Brazil industrial production (Dec.), Japan monetary base (Jan.), euro-zone unemployment (Dec.), German unemployment (Jan.).

-EARNINGS: Dow Chemical Co., Exxon Mobil Corp., Pfizer Inc., United Parcel Service Inc., LyondellBasell Industries NV, Chipotle Mexican Grill Inc., Yahoo! Inc., Illumina Inc., Gilead Sciences Inc., Sirius XM Holdings Inc., Itau Unibanco Holding SA, Archer-Daniels-Midland Co., BP Plc, Imperial Oil Ltd., Kobe Steel Ltd., UBS Group AG, Swedbank AB, Givaudan SA, Danske Bank A/S, Infineon Technologies AG, Ferrari NV, LVMH Moet Hennessy Louis Vuitton SE, Coloplast A/S.


-American service industries probably expanded in January at about the same rate as a month earlier, outpacing their manufacturing counterparts. The Institute of Supply Management will report at 10:00 in Washington.

-Poland holds a monetary policy meeting. The central bank is expected to keep the main rate unchanged at 1.5 percent. Jerzy Osiatynski, the only board member to remain after this year’s changeover, has said the next move in borrowing costs may be up. Timing to be determined.

-CGG SA publishes its share-sale results. The French oilfield surveyor said Jan. 13 it planned to sell as much as 350 million euros ($382 million) of new shares to finance its turnaround plan. Timing to be determined.

-Bank of Japan Governor Haruhiko Kuroda gives a speech at the annual Kyodo event in Tokyo from 11:30 to 12:30 local time (02/02 21:30 to 22:30 EST).

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

-CENTRAL BANKS: Thailand rate decision, Georgia rate decision.

-ECONOMY: U.S. MBA mortgage applications (weekly), ADP U.S. employment (Jan.), Markit U.S. services PMI (Jan.), Russia weekly CPI (Jan. 25), New Zealand jobless rate (fourth quarter), Romania retail sales (Dec.), Russia weekly CPI (to Feb. 1), South Africa whole economy PMI (Jan.), Turkey CPI (Jan.), Egypt manufacturing PMI (Jan.), Markit U.K. Services PMI (Jan.), Markit euro-zone services PMI (Jan.), Italy CPI (Jan.).

-EARNINGS: Automatic Data Processing Inc., Eaton Corp Plc, International Paper Co., Merck & Co., Comcast Corp., Alexion Pharmaceuticals Inc., Apollo Global Management LLC, General Motors Co., Southern Co., Mondelez International Inc., Yum! Brands Inc., Met Life Inc., Exelon Corp., National Oilwell Varco Inc., Marathon Petroleum Corp., Suncor Energy Inc., Weatherford International Plc, Lundin Petroleum ABABB Ltd., Syngenta AG, Koninklijke KPN NV, Gas Natural SDG SA, Novo Nordisk A/S, GlaxoSmithKline PLC, Banco Bilbao Vizcaya Argentaria SA.


-The Bank of England sets interest rates and policy makers unveil their quarterly inflation report containing new projections for growth and prices. At a press conference in London, Governor Mark Carney is expected to reinforce market expectations that officials are many months away from raising borrowing costs from a record low as global turmoil threatens growth prospects. Noon in London (07:00 EST).

-International Monetary Fund Managing Director Christine Lagarde speaks at the University of Maryland’s School of Public Policy about emerging markets and developing economies and how to promote faster convergence with advanced economies. 10:00 EST at College Park, Maryland.

-U.S. President Barack Obama hosts President Juan Manuel Santos of Colombia at the White House. They will mark 15 years of bilateral cooperation through Plan Colombia, the military and diplomatic assistance program aimed at combating drug cartels and an insurgency. The two leaders also will discuss Santos’s efforts to reach a settlement with the rebel group known as the FARC. Timing to be determined.

-The Tiger 21 annual conference is held in Los Angeles. Chairman and Founder of Colony Capital LLC Tom Barrack will present at 14:00 local time (17:00 EST) and Richard Thaler, University of Chicago professor and father of behavioral investing, will speak at 15:30. David Bonderman, founder of TPG Holdings, will present at 18:15.

-The U.S. House Committee on Oversight holds a hearing on drug pricing, and will include testimony from Valeant Pharmaceuticals International Inc.’s interim chief executive officer, Howard Schiller, and former Turing Pharmaceuticals CEO Martin Shkreli. 09:00 in Washington.

-The 12 nations in the Trans-Pacific Partnership will formally sign the U.S.-led regional trade agreement in Auckland. The deal still requires ratification by the legislatures of all signatory nations, with national debates likely to linger for at least several more months. Timing to be determined.

-Britain co-hosts an international conference aimed at raising money to help Syrians inside and outside the country suffering as a result of the civil war. Timing in London to be determined.

-European Union defense ministers begin a two-day meeting to discuss Syria’s civil war and a possible EU-flagged peacekeeping mission in Libya. Timing in Amsterdam to be determined.

-Norway’s sovereign wealth fund releases its annual report on responsible investing. 10:00 CET (04:00 EST).

-The United Nations Food and Agriculture Organization publishes its food-price index and cereal supply and demand data. 10:00 CET in Rome (04:00 EST).

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

-U.S. Energy Information Administration releases its U.S. oil inventory report. 11:00 in Washington.

CENTRAL BANKS: Mexico rate decision, Czech rate decision.

-ECONOMY: U.S. Challenger job-cut announcements (Jan.), U.S. productivity & labor costs (fourth quarter), Bloomberg U.S. consumer comfort index (weekly), U.S. factory orders (Dec.), South Africa business confidence (Jan.).

-EARNINGS: Boston Scientific Corp., Charter Communications Inc., ConocoPhillips, Cigna Corp., McGraw Hill Financial Inc., LinkedIn Corp., Dominion Resources Inc./VA, Occidental Petroleum Corp., Philip Morris International Inc., Intercontinental Exchange Inc., News Corp., New York Times Co., Mitsubishi Heavy Industries Ltd.Royal Gold Inc., Tata Steel Ltd., EQT Corp., PPL Corp., Royal Dutch Shell Plc, Statoil ASA, Cemex SAB, Swisscom AG, Credit Suisse Group AG, Munich Re, DNB ASA, AstraZeneca Plc, Smith & Nephew Plc, Vinci SA, ING Groep NV, Dassault Systemes, Daimler AG.


-Employers in the U.S. probably took on fewer workers in January than a month earlier, when payrolls jumped by almost 300,000. The Labor Department’s data are also projected to show the unemployment rate held at 5 percent and hourly earnings rebounded. 08:30 in Washington.

-The Tiger 21 annual conference continues in Los Angeles. Jon Medved, OurCrowd founder and CEO, will be presenting. His speech is entitled: “Where has all the alpha gone? Why private tech startups must be in your portfolio.” 08:00 in L.A. (11:00 EST). Michael Milken, chairman of the Milken Institute, will speak on the “state of the world” at 09:30. Jeffrey Gundlach, chief investment officer and co-founder of DoubleLine Capital, will present on today’s markets at 11:00.

-EU foreign ministers begin a two-day meeting to discuss peace efforts in Syria and Libya. Ministers will also assess EU support for Ukraine and ties with Russia. Timing in Amsterdam to be determined.

-Kinder Morgan Inc.’s proposed Elba Island liquefied natural gas terminal near Savannah, Georgia, is set to receive an environmental assessment from the Federal Energy Regulatory Commission. The project is scheduled to start service in 2018.

-Movies opening today in U.S. include: “Hail, Caesar!’’ a new Universal Pictures comedy from the Coen Brothers that stars George Clooney. Also opening is “Pride and Prejudice and Zombies, a comedy with actor Lily James, Sony Pictures Studios Inc.

On the set of ‘Pride and Prejudice and Zombies’

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

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


-ECONOMY: U.S. trade balance (Dec.), U.S. consumer credit (Dec.), Canada unemployment (Jan.), Canada merchandise trade balance (Dec.), Brazil IPCA inflation (Jan.), Colombia inflation (Jan.), Indonesia GDP (fourth quarter), South Africa gross and net reserves (Jan.), German factory orders (Dec.), France trade balance (Dec.).

-EARNINGS: BNP Paribas SA, Volvo AB, BG Group Plc, Intesa Sanpaolo SpA, Banca Monte dei Paschi di Siena SpA.

-SOVEREIGN RATING UPDATES: Abu Dhabi (S&P), Albania (S&P), Austria (Fitch), Bulgaria (Moody’s), Democratic Republic of Congo (S&P), EFSF (Moody’s), Finland (Moody’s), Ireland (Fitch), Israel (S&P), Mozambique (S&P).


-No scheduled events.

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