Fed Minutes, Japan’s GDP, Trump Golf Suit: Week Ahead Aug. 13-20

  • Cisco, Home Depot, Wal-Mart to cap Dow companies’ earnings
  • U.K. consumer prices will offer post-Brexit economy snapshot

The Federal Reserve will issue minutes from its July 26-27 policy meeting, when officials left interest rates unchanged and said risks to the U.S. economy had subsided. Follow the TOPLive blog for real-time coverage here.

Investors will get a smorgasbord of data from some of the world’s largest economies. U.S. consumer prices and housing starts probably were little changed last month, based on economists’ estimates, while second-quarter growth in Japan likely slowed due to weak private consumption. A U.K. report on inflation will be the first hard data since the Brexit vote in June.

Democratic presidential nominee Hillary Clinton campaigns with Vice President Joe Biden with the focus on economic issues, while Republican rival Donald Trump begins fighting a golf-related lawsuit in Florida.

Wal-Mart Stores Inc., Cisco Systems Inc. and Home Depot Inc. will cap off earnings reports for companies in the Dow Jones Industrial Average. Nestle SA and Tencent Holdings Ltd. also will release results. For an expanded weekly list, click here. Check LIVE <GO> for conference-call coverage.

The 2016 Summer Olympics continue in Rio de Janeiro. As swimming and gymnastics wind down, the spotlight shifts to medal events in sports such as track and field, soccer and basketball. Through Aug. 21. For Bloomberg’s Olympic medal tracker, click here.

Saturday, Aug. 13

  • South Africa’s ruling African National Congress continues a series of meetings to decide how to respond to its worst election performance since the end of apartheid two decades ago. Timing to be determined.

Sunday, Aug. 14

  • The results from a tight election race in Zambia between President Edgar Lungu and his main rival, Hakainde Hichilema, are due late Sunday following a violent campaign. The winner needs more than 50 percent of the vote to avoid a runoff. 

Monday, Aug. 15 

  • Republican presidential nominee Donald Trump begins fighting a lawsuit in Florida over denying refunds on dues to members of the Trump National Golf Club Jupiter.

  • Final bids for the digital media company Gawker Media LLC are due ahead of Tuesday’s auction. A banker managing Gawker’s bankruptcy process and resulting sale said as many as 20 parties could make offers.

  • Vice President Joe Biden will campaign with Democratic presidential nominee Hillary Clinton in his hometown of Scranton, Pennsylvania. Their visit will focus on economic issues.

  • Japanese economic growth slowed in the second quarter, according to economists’ forecasts ahead of a government report, as private consumption remained weak. 08:50 in Tokyo (08/14 19:50 EDT).

  • ECONOMY: U.S. Empire State manufacturing (August), NAHB homebuilder sentiment (August) and Treasury international capital flows (June); Thailand GDP (second quarter); Israel CPI (July); Turkey unemployment rate (May); Russia industrial output and budget (both for July); Ukraine GDP (second quarter).

  • CENTRAL BANKS: Kazakhstan rate decision.

  • EARNINGS: Sysco Corp. is among companies reporting results. For an expanded list of companies announcing earnings today, click here. 

  • ENERGY/COMMODITIES: U.S. Agriculture Department crops data (weekly), U.S. Energy Information Administration Drilling Productivity Report (monthly).

Tuesday, Aug. 16

  • Britain’s report on consumer-price growth will be the first hard data on the economy since the Brexit vote in June. The Bank of England forecasts that the weaker pound will boost import costs and push inflation back to its 2 percent target faster than previously anticipated. 09:30 in London (04:30 EDT).

  • Consumer prices in the U.S. were probably little changed in July, showing a glacial pace of inflation that lets Federal Reserve policy remain accommodative, economists forecast. The Labor Department issues the figures at 08:30 in Washington.

  • Housing starts in the U.S. were probably little changed in July from a month earlier, indicating slow progress in residential construction, a Commerce Department report is projected to show. 08:30 in Washington.

  • U.S. Federal Reserve Bank of Atlanta President Dennis Lockhart speaks at the weekly meeting of the Rotary Club of Knoxville in Tennessee. 12:30 EDT.

  • German Finance Minister Wolfgang Schaeuble campaigns in Mecklenburg-Western Pomerania ahead of state elections on Sept. 4. 18:00 CET in Rostock (12:00 EDT).

  • Executives from CBS Corp., Comcast Corp. and Time Warner Inc. are among speakers at Nomura Holdings Inc.’s 2016 Media, Telecom & Internet Conference. For a full conference agenda, click here. 08:00 EDT in New York City.

  • The Intel Developer Forum kicks off in San Francisco. Intel Chief Executive Officer Brian Krzanich is a keynote speaker. For a full agenda, click here. Through Aug. 18.

  • Indonesia’s President Joko Widodo delivers his national address ahead of the country’s Aug. 17 Independence Day. 08:00 in Jakarta (08/15 21:00 EDT). 

  • CENTRAL BANKS: Reserve Bank of Australia minutes.

  • ECONOMY: U.S. industrial production (July); German ZEW Survey (Aug.); Colombia retail sales (June); Israel GDP (second quarter); Czech GDP (second quarter); Poland CPI and budget balance (both for July).

  • EARNINGS: Home Depot Inc. is among companies reporting results. For a list of companies announcing earnings today, click here. 

Wednesday, Aug. 17

  • The Federal Reserve releases minutes of its July 26-27 policy meeting. 14:00 in Washington.

  • U.S. Federal Reserve Bank of St. Louis President James Bullard speaks at a wealth and asset management research conference on the U.S. economy and monetary policy. 12:00 in St. Louis (13:00 EDT).

  • Tyco International Plc and Johnson Controls Inc. hold shareholder meetings to vote on their proposed $16 billion merger. Tyco’s session is 09:00 local time in Dublin (04:00 EDT); Johnson Controls’ event is 13:00 local time in Dallas (14:00 EDT).

More than 340,000 people attended the 2013 trade show

  • Gamescom, a five-day convention for video and computer gamers and developers, begins in Cologne, Germany. For a full list of events, click here.

  • German Chancellor Angela Merkel makes her first campaign appearance in Mecklenburg-Western Pomerania ahead of next month’s state elections. 18:00 CET in Neustrelitz (12:00 EDT). She also campaigns in Boldekow at 11:00 EDT on Thursday.

  • The executive committee of acting Spanish Prime Minister Mariano Rajoy’s People’s Party is scheduled to vote on conditions laid down by the pro-market Ciudadanos party for starting talks on breaking the seven-month deadlock in forming a new government. Timing to be determined.

  • Norway’s sovereign wealth fund, the world’s biggest, releases its second-quarter investment report. 10:00 CET (04:00 EDT).

  • ECONOMY: U.S. MBA mortgage applications (weekly); New Zealand unemployment (second quarter); South Africa retail sales (June), U.K. unemployment and average earnings (both for June); Russia retail sales and unemployment (both for July) and weekly CPI.

  • CENTRAL BANKS: Namibia rate decision.

  • EARNINGS: Tencent Holdings Ltd., Target Corp., Cisco Systems Inc. and Carlsberg A/S are among companies reporting results. For an expanded list of companies announcing earnings today, click here. 

  • ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on natural gas volume (weekly).

Thursday, Aug. 18

  • German Chancellor Angela Merkel holds a working dinner with European Union President Donald Tusk to discuss the agenda for the EU summit in Bratislava, Slovakia, which will discuss the response to Britain’s vote to leave the bloc. 19:30 CET in Berlin (13:30 EDT).

  • U.S. Federal Reserve Bank of San Francisco President John Williams speaks at the Anchorage Economic Development Corp. Luncheon. 11:30 in Anchorage, Alaska (15:30 EDT).

  • The European Central Bank releases an account of its July monetary policy meeting. 13:30 CET in Frankfurt (07:30 EDT).

  • ECONOMY: U.S. jobless claims (weekly), Philadelphia Fed manufacturing (Aug.), Bloomberg Consumer Comfort (weekly, monthly expectations) and leading economic indicators (July); Japan trade (July); Australia jobs (July); Philippines GDP (second quarter); China property prices and Hong Kong unemployment rate (both for July), Chile GDP (second quarter); euro-area CPI (July); U.K. retail sales (July); Turkish central bank’s monthly survey of expectations; Poland industrial output and retail sales (both for July).

  • EARNINGS: Nestle SA and Wal-Mart Stores Inc. are among companies announcing earnings. For an expanded list of today’s releases, 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), with real-time coverage on the TOPLive blog here.

Friday, Aug. 19 

  • EARNINGS: Deere & Co., the world’s biggest agricultural-equipment manufacturer, is among companies announcing earnings today. For an expanded list of companies releasing results, click here.

  • CENTRAL BANKS: Indonesia rate decision

  • ECONOMY: Taiwan GDP (second quarter); U.K. budget deficit (July).

  • ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly).

  • SOVEREIGN RATING UPDATES: Botswana (Moody’s), Egypt (Moody’s), Macedonia (Fitch), Malta (Fitch), Netherlands (DBRS), Portugal (Fitch), Romania (Moody’s), Turkey (Fitch).

Saturday, Aug. 20

  • No scheduled events.
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