G-20, ECB, Carney, Apple, U.S. Open: Week Ahead: Sept. 3-10

  • U.S. Congress returns to work; Apple may reveal latest iPhone
  • Hewlett Packard Enterprise, Marvell Technology post earnings

The Group of 20 summit in China will be attended by leaders of countries accounting for two-thirds of the world’s population and 85 percent of its economic output.

U.S. service providers probably expanded in August at a pace that indicates a strengthening of the economy in the third quarter after a weak first half. The Institute for Supply Management’s non-manufacturing index is the highlight of a holiday-shortened week for U.S. economic data.

U.S. Congress returns from its seven-week recess with a to-do list that includes funding the government and a Zika vaccine amid outbreaks of the virus in Florida.

Bank of England Governor Mark Carney testifies before lawmakers in the wake of measures taken following the U.K.’s decision to leave the European Union.

Canada, the European Central Bank, Poland and Sweden set interest rates.

Apple Inc. holds a keynote event at which it will probably unveil the iPhone 7, rumored to have no headphone jack.

The U.S. Open tennis tournament, the last grand slam of the year, nears its conclusion in New York. The National Football League season begins. The PGA Deutsche Bank Championship continues in Norton, Massachusetts, with an $8,500,000 purse.

Saturday, Sept. 3

  • U.S. President Barack Obama and Treasury Secretary Jacob Lew are in China ahead of the G-20 summit in Hangzhou, China. Chinese President Xi Jinping will host a dinner for Obama. On Sept. 4, the U.S. leader meets with Turkey’s Recep Tayyip Erdogan about joint efforts to combat Islamic State.

  • Argentine President Mauricio Macri meets with Chinese President Xi Jinping in Shanghai at 09:00 (09/02 21:00 EDT) and Russian President Vladimir Putin at 20:30 (08:30 EDT) ahead of the G-20 summit. Brazil’s Michel Temer is making his first foreign trip as president and will also meet with President Xi.

  • Italian Prime Minister Matteo Renzi, European Central Bank Executive Board member Yves Mersch and Eurogroup head Jeroen Dijsselbloem are among the speakers at the European House-Ambrosetti’s “Intelligence on the World, Europe, and Italy” forum in Cernobbio, Italy.

  • European Union foreign ministers meet to discuss relations with Turkey, the Ukrainian peace process and counterterrorism. Starts at 09:00 CET in Bratislava (03:00 EDT).

  • Serena Williams and Novak Djokovic are the No. 1 seeds as the U.S. Open tennis championship continues in Flushing, New York. Through Sept. 11.

Sunday, Sept. 4

  • The G-20 Summit is hosted by China at a time of slowing trade and tepid global growth. German Chancellor Angela Merkel, French President Francois Hollande, U.K. Prime Minister Theresa May and Italian Prime Minister Matteo Renzi are among leaders attending. In Hangzhou, through Sept. 5.

  • Hong Kong holds its first Legislative Council elections since thousands of students led the Occupy Central movement two years ago that blocked city streets to protest the method of electing the territory’s chief executive.

  • A German regional election takes place in Mecklenburg-Western Pomerania, Angela Merkel’s home state. Polls suggest her Christian Democrats could be beaten into third place. Results due from 18:00 CET (12:00 EDT).

Monday, Sept. 5

  • The U.S. and Canada celebrate Labor Day holidays and markets are closed.

  • Argentine President Mauricio Macri meets with Spanish Prime Minister Mariano Rajoy and Indian Prime Minister Narendra Modi in Shanghai. Timing to be determined.

  • Barack Obama becomes the first sitting U.S. president to visit Laos. He will meet with Prime Minister Thongloun Sisoulith and give a speech in Vientiane about his Asia policy and the Trans-Pacific Partnership trade agreement that he supports. Obama also will meet new Philippine President Rodrigo Duterte. Through Sept. 7.

  • Bank of Japan Governor Haruhiko Kuroda speaks at a Kyodo News event in Tokyo. 11:30 (09/04 22:30 EDT).

  • Dutch Finance Minister and Eurogroup head Jeroen Dijsselbloem speaks at Tilburg University in the Netherlands a 16:00 CET (10:00 EDT).

  • Members of Britain’s House of Commons debate a petition calling for a second referendum on EU membership. There will be no vote. Starts at 16:00 in London (11:00 EDT).

  • FT Commodities Asia Summit, “Trading through Uncertainty,” will feature speeches by Shanghai Gold Exchange Chairman Jiao Jinpu and Bank of China International’s Head of Commodity Markets Strategy Xiao Fu. In Singapore. For agenda, click here.

  • Monthly ECB quantitative easing tally. 15:45 CET in Frankfurt (09:45 EDT).

  • ECONOMY: Colombia inflation (Aug.); Caixin China services PMI (Aug.); Singapore PMI (Aug.); South Africa whole economy PMI (Aug.); euro-area services PMI (Aug.); U.K. services PMI (Aug.); Turkey inflation (Aug.); Egypt PMI (Aug.); Hungary retail sales (July); Czech retail sales (July)

  • EARNINGS: Sofina SA is among companies announcing earnings. For an expanded list of today’s releases, click here.

  • ENERGY/COMMODITIES: ICE Futures Europe releases its weekly Commitments of Traders report; U.S. Department of Agriculture weekly crop progress report

Tuesday, Sept. 6

  • Growth at U.S. service providers was probably little changed in August from a month earlier, consistent with forecasts for faster economic growth in the third quarter. The Institute for Supply Management releases data at 10:00 in Washington.

  • Laos hosts the 28th Association of Southeast Asian Nations Summit in Vientiane, which will be held jointly with the East Asian Summit, and attended by leaders from the U.S., Japan, Russia, China, India, New Zealand, Australia and South Korea. Through Sept. 8.

  • U.S. Federal Reserve Bank of San Francisco President John Williams will discuss the economic outlook and take questions at The Hayek Group in Reno, Nevada. 18.15 (21:15 EDT).

  • The U.S. House and Senate return from a seven-week recess with only a few weeks to pass a stopgap spending bill to keep the government running before funding runs out on Sept. 30. Lawmakers will likely clash over money to fight the Zika virus, as well as a White House request to restore full lending authority to the U.S. Export-Import Bank.

  • The Barclays CEO Energy Power conference is held in New York City. Presenters include Marathon Petroleum Corp. Chief Executive Officer Gary Heminger and Williams Cos. Inc.’s CEO Alan Armstrong. Through Sept. 8.

  • The Asia Pacific Petroleum Conference is held in Singapore. Company executives, traders and analysts gather for conferences and meetings in one of the global oil industry’s biggest events. Through Sept. 8.

  • Swiss National Bank President Thomas Jordan speaks in Lucerne. 18:15 CET (12:15 EDT).

  • German Finance Minister Wolfgang Schaeuble formally presents the government’s 2017 budget to parliament. 10:00 CET in Berlin (04:00 EDT).

  • Dutch Finance Minister and Eurogroup head Jeroen Dijsselbloem speaks in Brussels at 19:00 CET (13:00 EDT).

  • CENTRAL BANKS: Brazil minutes, Australia rate decision

  • ECONOMY: U.S. Markit services PMI (Aug. final), U.S. labor market conditions index (Aug.); Bloomberg Nanos Canadian Confidence Index (weekly); Taiwan CPI (Aug.); New Zealand house prices (Aug.); Philippines CPI (Aug.); South Africa GDP (second quarter); euro-area GDP (second quarter, final); German factory orders (July); Swiss GDP (second quarter); Hungary GDP (second quarter, final) & industrial output (July); Slovakia GDP (second quarter, final)

  • EARNINGS: Marvell Technology Group Ltd. is among companies announcing earnings. For an expanded list of today’s releases, click here.

Wednesday, Sept. 7

  • Bank of England Governor Mark Carney testifies before U.K. parliament on policy alongside Deputy Governor Jon Cunliffe and officials Kristin Forbes and Ian McCafferty. In August, the central bank unleashed a package including the first interest-rate cut in seven years and said more easing could come as Britain feels the effects of its decision to leave the European Union. The BOE has already faced criticism from some lawmakers for seeming to back the Remain campaign. 14:15 in London (09:15 EDT).

Apple event invitation

Apple.com website
  • Apple Inc. holds a keynote event. Company executives will likely present the iPhone 7, a new Apple Watch and improvements to the iOS 10 operating system. 10:00 (13:00 EDT) in San Francisco. Follow the TOPLive blog for real-time coverage here.

  • The Bank of Canada is expected to keep its benchmark interest rate at 0.5 percent, with the decision due at 10:00 EDT.

  • The Wells Fargo Securities Healthcare conference is held in Boston. Participants include Medtronic Plc, Merck & Co. Inc. and Gilead Sciences Inc. Click here for agenda. Through Sept. 8.

  • Keefe, Bruyette & Woods hosts its annual Insurance Conference in New York City. Participants include Third Point Reinsurance Ltd. and Chubb Ltd. Click here for agenda. Through Sept. 8.

  • German Chancellor Angela Merkel speaks in parliament during the 2017 German federal budget debate. 09:00 CET in Berlin (03:00 EDT).

  • Michel Barnier, who is leading the European Union’s negotiations with the U.K. over its departure from the bloc, speaks on a panel in Brussels at 13:45 CET (07:45 EDT).

  • Scotiabank hosts its annual Financials Summit in Toronto. This year’s participants include Sun Life Financial Inc. and TD Bank Group. See agenda here. Through Sept. 8.

  • CENTRAL BANKS: Federal Reserve Beige Book; Argentina monetary report; Sweden rate decision; Poland rate decision; Georgia rate decision; Malaysia rate decision

  • ECONOMY: U.S. MBA mortgage applications (weekly), JOLTS U.S. job openings (July); Russia CPI (weekly); China foreign exchange reserves (Aug.); Taiwan trade (Aug.); Australia GDP (second quarter); South Africa gross and net reserves (Aug.), South Africa monthly business confidence (Aug.) and quarterly business confidence (third quarter); German industrial production (July); U.K. Halifax house prices (Aug.), industrial production (July) and NIESR GDP estimate (Aug.); Israel foreign currency balance (Aug.); Croatia GDP (second quarter, final)

  • EARNINGS: Hewlett Packard Enterprise Co. and Steinhoff International Holdings NV are among companies announcing earnings. For a list of today’s releases, click here.

  • ENERGY/COMMODITIES: U.S. Energy Information Administration short-term Energy Outlook (monthly), Bloomberg survey of analysts’ expectations on natural gas volume in storage (weekly)

Thursday, Sept. 8

  • The ECB’s Governing Council meets to review interest rates and stimulus programs. Rate decision at 13:45 in Frankfurt (07:45 EDT), followed by ECB President Mario Draghi’s press conference at 14:30.

  • Bank of Canada Deputy Governor Timothy Lane addresses the Thunder Bay Chamber of Commerce in Thunder Bay, Ontario. 12:20 EDT.

  • U.S. President Barack Obama attends the East Asia Summit in Vientiane, Laos. He will hold a press conference before returning to Washington on Sept. 9.

  • The Economist Mexico Summit is held in Mexico City. Featured speakers include Mexican Undersecretary of Communications Monica Aspe, Petroleos Mexicanos Chief Executive Officer Jose Antonio Gonzalez and Todd Harbaugh, chief operating officer of Wal-Mart de Mexico SAB. Event begins at 09:00 (10:00 EDT).

  • Mexican Finance Minister Luis Videgaray is expected to present the budget bill to Congress for 2017 amid expectations of significant spending cuts and lower growth.

  • Japan releases updated gross domestic product data for the second quarter. A preliminary reading points to an annualized gain of 0.2 percent from the first quarter. 08:50 (09/07 19:50 EDT).

  • French President Francois Hollande delivers a speech on terrorism at 12:00 CET in Paris (06:00 EDT).

  • U.K. Chancellor of the Exchequer Philip Hammond faces questions on policy from the House of Lords Economic Affairs Committee. 15:35 in London (10:35 EDT).

  • South African Finance Minister Pravin Gordhan is scheduled to speak at a book fair in Cape Town. About 10:00 (04:00 EDT).

  • CENTRAL BANKS: Peru rate decision, Serbia rate decision

  • ECONOMY: U.S. jobless claims (weekly) & consumer credit (July); Bloomberg Consumer Comfort (weekly); Mexico inflation (Aug.); Chile inflation (Aug.); China trade (Aug.); South Africa mining production & manufacturing production (July); U.K. RICS house prices (Aug.); Turkey industrial production (July); Egypt inflation (Aug.); Hungary inflation (Aug.); Estonia GDP (second quarter, final)

  • EARNINGS: Sun Hung Kai Properties Ltd. is among companies announcing earnings. For an expanded list of today’s releases, click here.

  • ENERGY/COMMODITIES: U.S. EIA crude oil inventory report (weekly) -- follow the TOPLive blog for real-time coverage here; EIA natural gas inventory report (weekly); Bloomberg survey of analysts’ expectations on natural gas prices; United Nations’ Food and Agricultural Organization releases monthly food-price index

  • The National Football League season begins with a replay of Super Bowl 2016 between the champion Denver Broncos and the Carolina Panthers. 18:30 in Denver (20:30 EDT).

Friday, Sept. 9

  • Federal Reserve Bank of Boston President Eric Rosengren is the keynote speaker at the South Shore Chamber of Commerce breakfast meeting in Quincy, Massachusetts. 07:45 EDT.

  • Euro-area finance ministers and central bank governors meet in Bratislava. Italian banks, Brexit and the budget outlook are possible topics of discussion. 09:00 CET (03:00 EDT).

  • Greek Prime Minister Alexis Tsipras hosts the leaders of Italy, Spain, France, Portugal, Cyprus and Malta. Joint press conference scheduled for 16:15 in Athens (09:15 EDT).

  • ECONOMY: Canada unemployment (Aug.); U.S. wholesale inventories (July, final); Brazil IPCA inflation (Aug.); Mexico industrial production (July); China CPI (Aug.); Philippines unemployment (July); German trade balance (July); French industrial production (July); Spain industrial output (July); U.K. trade balance (July); Russia GDP (second quarter) as soon as today; Czech inflation (Aug.)

  • EARNINGS: Kroger Co. is among companies announcing earnings. For an expanded list of today’s releases, click here.

  • ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly); CFTC report on futures and options positions for oil

  • SOVEREIGN RATING UPDATES: Bosnia & Herzegovina (S&P); Finland (DBRS); Kazakhstan (S&P); Lithuania (Moody’s); Poland (Moody’s); Rwanda (S&P)

Saturday, Sept. 10

  • The women’s final of the U.S. Open tennis tournament begins at 16:00 EDT in Flushing, New York. Click here for schedule.

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