U.S. Jobs, BOE Cut Seen, Clinton-Trump, Rio: Week Ahead Aug. 1-6by , , and
Toyota, Tesla among earnings reports as U.S. auto sales due
Australia mining forum; U.S. factories and spending in focus
U.S. payroll growth probably settled to a moderate pace in July, economists project the Labor Department to report this coming week. Follow the TOPLive blog for real-time coverage here.
Consumer spending probably increased in June, while U.S. manufacturing expanded, other data this week are forecast to show.
The Bank of England announces a monetary-policy decision, with investors expecting a cut to the benchmark rate from the current 0.5 percent.
The summer Olympic Games begin in Rio de Janeiro this week, after being dogged for months by security fears, a widening Russian doping scandal, pollution worries, the Zika virus and reports of unfinished infrastructure.
Procter & Gamble Co., Itau Unibanco Holding SA, Toyota Motor Corp., HSBC Holdings Inc. and Tesla Motors Inc. are among companies announcing earnings. Check LIVE <GO> for conference-call coverage. For an expanded weekly list, click here.
Presidential candidates Hillary Clinton and Donald Trump, fresh off their respective conventions, will focus on battleground states as they return to campaigning on the road.
Monday, Aug. 1
- U.S. factory activity in July is projected to hold close to the fastest pace in more than a year, indicating manufacturers are pulling out of a prolonged slump. The Institute for Supply Management will issue its index at 10:00 EDT in Washington.
- Republican presidential nominee Donald Trump visits Columbus, Ohio, and Harrisburg, Pennsylvania, on Monday on the heels of a three-day Democratic swing through the area. Democratic nominee Hillary Clinton goes to Omaha, Nebraska, while running mate Tim Kaine has a “welcome home” rally in his hometown of Richmond, Virginia.
- The Center for Automotive Research hosts its annual auto summit with executives from across the industry. Through Aug. 4 in Traverse City, Michigan. Click here for agenda.
- Deadline set by the U.S. to reach a political settlement with Russia in the Syrian civil war.
- Civic holiday in Canada closes markets. Localities can label the observance as they see fit; it’s Simcoe Day in Toronto and Colonel By Day in Ottawa.
- Singapore Prime Minister Lee Hsien Loong speaks on trade priorities and the importance of the Trans-Pacific Partnership at an event hosted by the U.S. Chamber of Commerce. 18:30 EDT in Washington. He visits U.S. President Barack Obama at the White House on Tuesday.
- Diggers & Dealers Mining Forum opens in Kalgoorlie, Western Australia. Speakers include economist John Lipsky, former first deputy managing director of the International Monetary Fund. Through Aug. 3.
- Indian Oil Minister Dharmendra Pradhan speaks at a Bloomberg event in the Taj Mahal Hotel, New Delhi. 18:30 local time (09:00 EDT).
- 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 (July final) and construction spending (June); U.K. manufacturing PMI (July); Euro-area manufacturing PMI (July - final reading); Brazil trade balance (July); South Korea current account (June) and trade (July); Indonesia CPI (July); China PMI and China Caixin manufacturing PMI (both for July); Russia PMI (July); Hungary PMI (July); Poland PMI (July); Czech PMI (July) and budget (July); Serbia GDP (2Q, preliminary); Kazakhstan CPI (July); South Africa manufacturing PMI and new-vehicle sales (both for July); Turkey manufacturing PMI survey (July).
- EARNINGS: Dun & Bradstreet Corp., Heineken NV and Porsche Automobil Holding SE are among companies reporting results. For an expanded list click here.
- ENERGY/COMMODITIES: U.S. Agriculture Department crops data (weekly).
Tuesday, Aug. 2
- Automakers report on U.S. light-vehicle sales for July, with analysts watching for evidence of continued strength or for over-generous incentives in a market coming off a record year in 2015. Annual sales are on a six-year run of gains, the longest ever.
- U.S. Federal Reserve Bank of Dallas President Robert Kaplan will speak on economic conditions and implications for monetary policy in Beijing at an Official Monetary and Financial Institutions Forum city lecture. 18:15 local time (06:15 EDT).
- Personal spending in the U.S. probably increased in June, providing a bigger push for the economy as incomes continued to grow, economists forecast the Commerce Department to report. 08:30 EDT in Washington.
- Indonesian President Joko Widodo and Malaysian Prime Minister Najib Razak are among leaders set to attend the three-day World Islamic Economic Forum in Jakarta. The Malaysian trade minister and Islamic Development Bank president are scheduled to speak.
- Japan’s cabinet is expected to decide on the stimulus package announced by Prime Minister Shinzo Abe.
- CENTRAL BANKS: Australia rate decision, Bank of England weekly indexed long-term repo operation.
- ECONOMY: U.S. ISM New York PMI (July), Brazil industrial production (June), South Korea CPI (July), Hong Kong retail sales (June), South Africa whole economy PMI (July).
- EARNINGS: Procter & Gamble Co. and Pfizer Inc., both members of the Dow Jones Industrial Average, are among companies reporting results. For an expanded list click here.
Wednesday, Aug. 3
- Tesla Motors Inc. reports second-quarter earnings, followed by a conference call starting at 16:00 EDT. Follow the TOPLive blog for real-time coverage here.
- The Wells Fargo Services Forum is held in Newport, Rhode Island. Participating companies includes Moody’s Corp., S&P Global, Korn/Ferry International, MSCI Inc. and Dun & Bradstreet Corp. Through Aug. 4.
- South Africa holds local-government elections to determine control of the nation’s 278 municipalities. Voting starts at 07:00 (01:00 EDT).
- CENTRAL BANKS: Thailand rate decision.
- ECONOMY: U.S. MBA mortgage applications (weekly), ADP private employment (July), Markit services PMI (July final) and ISM non-manufacturing index (July); Russia CPI (weekly); South Korea FX reserves (July); New Zealand employment (2Q); China Caixin services PMI (July); Romania retail sales (June); Hungary retail sales (June); Georgia CPI (July); Turkey inflation data (July); Egypt purchasing managers’ index (July).
- EARNINGS: Societe Generale SA, Unicredit SpA and HSBC Holdings Plc are among companies reporting results. For an expanded list click here.
- ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on natural gas volume (weekly), EIA Petroleum Status report (weekly), with real-time coverage on the TOPLive blog here.
Thursday, Aug. 4
- Bank of England releases its decision on the benchmark interest rate, asset-purchase facility and the Inflation Report with its latest forecasts. Policy makers have signaled a need for more stimulus after the Brexit vote. 12:00 London (07:00 EDT).
- U.S. Federal Reserve Bank of Dallas President Robert Kaplan will speak at the Official Monetary and Financial Institutions Forum city lecture in Shanghai at 18:15 (06:15 EDT).
- The candidates to lead the U.K.’s main opposition Labour Party, incumbent Jeremy Corbyn and Owen Smith, hold their first face-to-face debate. 19:00 in Cardiff, Wales (14:00 EDT).
- Christine Lagarde, managing director of the International Monetary Fund, is among the speakers at a summit hosted by Casa Rio, the Brazilian Business Embassy, ahead of the Summer Olympics. 12:00 local time in Rio de Janeiro (11:00 EDT).
- CENTRAL BANKS: European Central Bank monthly economic bulletin, Czech benchmark rate decision, Romania central bank main rate decision.
- ECONOMY: U.S. Challenger job-cut announcements (July), jobless claims (weekly), Bloomberg consumer comfort (weekly) and factory orders (June); Russia CPI (July).
- EARNINGS: Regeneron Pharmaceuticals Inc. and LinkedIn Corp. are among companies reporting results. For an expanded list click here.
- ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on natural gas prices (weekly), USDA crop net-export sales (weekly), U.S. EIA natural gas inventory report (weekly), UN Food and Agriculture Organization food price index (June).
Friday, Aug. 5
- Employment in the U.S. probably increased by about 175,000 in July after the biggest month for hiring since October, economists project a Labor Department report to show. The unemployment rate is forecast to hold at 4.9 percent. 08:30 EDT in Washington.
- The Summer Olympics begin in Rio de Janeiro, the first South American host city. Opening ceremonies start at 20:00 local time/19:00 EDT. Through Aug. 21. Click here for the events schedule.
- CENTRAL BANKS: Central Bank of Argentina monetary report (July).
- ECONOMY: Canada unemployment (July) and trade balance (June); U.S. trade balance and consumer credit (both for June); Germany factory orders (June); Spain industrial production (June); U.K. Halifax house prices (July); Chile economic activity (June); Colombia inflation (July); Taiwan inflation (July); Hungary industrial production (June); Czech retail sales (June); South Africa gross and net reserves (July).
- EARNINGS: Bombardier Inc., William Hill Plc and Royal Bank of Scotland Group Plc are among companies reporting results. For an expanded list click here.
- ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly), U.S. CFTC Commitments of Traders (weekly).
- SOVEREIGN RATING UPDATES: Abu Dhabi (S&P), Albania (Moody’s & S&P), Angola (Moody’s), Austria (Fitch), Azerbaijan (Moody’s), Belarus (Fitch), Democratic Republic of Congo (S&P), Israel (S&P), Mozambique (S&P), Sweden (Moody’s), Turkey (Moody’s).
Saturday, Aug. 6
- President Barack Obama and family depart for two weeks on Martha’s Vineyard, Massachusetts, the island where they have spent summer vacations each year of his administration except for 2012. No public events are scheduled.
- ECONOMY: China foreign reserves (July).