U.S. Retail Sales, BOE Rate, SNB Outlook: Week Ahead Sept. 10-17By , , and
World according to Jamie Dimon; Oracle, Hermes post earnings
Boeing unveils T-X trainer; U.S. Open championship concludes
U.S. retail sales may have rebounded in August, data from the Commerce Department will show. Those figures, along with measures of inflation and consumer sentiment, are among the last major economic reports before the Federal Reserve meets Sept. 20-21.
The Bank of England meets to set monetary policy in the wake of the Brexit vote, while the Swiss National Bank issues its quarterly policy assessment and growth and inflation forecasts.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon will speak on a range of topics, including the U.S. presidential election and income inequality, at an event hosted by the Economic Club of Washington, D.C.
Boeing Co. introduces its T-X trainer, intended to groom future generations of U.S. Air Force fighter pilots.
The 71st session of the United Nations General Assembly commences at the world body’s headquarters in New York.
The U.S. Open tennis tournament, the last grand slam of the year, reaches its conclusion with the men’s and women’s finals.
Saturday, Sept. 10
- The Les Rendez-Vous de Septembre conference, one of the insurance industry’s biggest gatherings where pricing is discussed, is held in Monte Carlo from Sept. 10-15. Swiss Re AG Chief Executive Officer Christian Mumenthaler and Assicurazioni Generali SpA CEO Philippe Donnet are among speakers. Click here for the schedule.
- Peruvian President Pedro Pablo Kuczynski, in his first overseas trip since taking office, visits China. He’ll meet with government officials including Chinese President Xi Jinping, and heads of companies with mining operations in Peru.
- Vietnam’s Nguyen Xuan Phuc begins a six-day trip to China, his first as prime minister. The visit at the invitation of his Chinese counterpart Li Keqiang comes as territorial tensions in the South China Sea between the communist nations continue to fester.
- The U.S. Open tennis championship finishes in Flushing, New York. The women’s final is held Saturday at 16:00 EDT, followed by the men’s final at the same time on Sunday. Click here for the schedule.
- The Rugby Championship third round takes place, with New Zealand hosting Argentina and South Africa visiting Australia. Click here for the schedule and match times.
Sunday, Sept. 11
- Croatia holds early general elections. The country’s Social Democrats hold a slim lead over the conservative Croatian Democratic Union in opinion polls. With neither faction tipped to win an outright majority, both may vie for the support of the smaller Bridge party or consider a grand coalition. Voting starts at 07:00 CET (01:00 EDT) and closes at 19:00 CET, when the first exit polls are released.
- German Chancellor Angela Merkel meets with the leaders of Portugal, Cyprus, Latvia, Lithuania and Malta in Berlin to help prepare for Friday’s European Union summit charting the bloc’s post-Brexit future. About 18:00 CET (12:00 EDT).
- Catalan separatists hold annual demonstrations in favor of independence from Spain. From about 17:00 CET (11:00 EDT), centered in Barcelona.
- The U.S. Open men’s final starts at 16:00 in Flushing, New York.
Monday, Sept. 12
- JPMorgan Chase & Co. CEO Jamie Dimon speaks before the Economic Club of Washington, D.C. The conversation is expected to cover the state of the U.S. economy, current regulatory environment, and economic and financial issues the next president will likely face. Noon in Washington.
- Federal Reserve Bank of Atlanta President Dennis Lockhart gives a speech on U.S. monetary policy and the economic outlook at the annual meeting of the National Association for Business Economics. 08:00 in Atlanta.
- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in a discussion about too-big-to-fail financial institutions and the U.S. economy. Noon in St. Paul, Minnesota (13:00 EDT).
- International Monetary Fund Managing Director Christine Lagarde and Monsanto Co. Chief Operating Officer Brett Begemann are among speakers at the International Economic Forum of the Americas. In Toronto through Sept. 14.
- Julian King, the British European commissioner-designate nominated by the U.K. after its Brexit vote, faces a confirmation hearing at the European Parliament in Strasbourg, France. From 19:00 CET (13:00 EDT) until 22:00 CET.
- The Barclays Global Financial Services Conference takes place in New York. Presenters include MetLife Inc., Morgan Stanley and BlackRock Inc. Click here for agenda. Through Sept. 14.
- Morgan Stanley hosts its annual Global Healthcare Conference in New York. This year’s program features presentations by executives from AstraZeneca Plc, Sanofi, Gilead Sciences Inc. and Pfizer Inc. Through Sept. 14.
- Bank of America Merrill Lynch holds its annual equity conference in Tokyo. About 200 companies will be in attendance, including Sony Corp. and SoftBank Group Corp. Through Sept. 16.
- ECONOMY: Bloomberg Nanos Canadian Confidence Index (weekly); Poland CPI (Aug., final)
- EARNINGS: Manchester United Plc and Tata Steel Ltd. are among companies reporting results. For an expanded list of today’s releases, click here.
- ENERGY/COMMODITIES: USDA report on world crop supply and demand estimates (monthly) -- follow the TOPLive blog for real-time coverage here; OPEC oil market report (monthly); EIA drilling productivity report (monthly)
Tuesday, Sept. 13
- The 71st Regular Session of the United Nations General Assembly begins at the world body’s headquarters in New York. 10:00 EDT.
- The Austrian National Bank and the Bank for International Settlements host a conference on “Central Banking in Times of Change” on the occasion of OeNB’s 200th anniversary. In Vienna through Sept. 14.
- Bloomberg hosts the Canadian Fixed Income Conference in New York. Bank of Canada’s Chief of Financial Markets Toni Gravelle and Quebec Finance Minister Carlos Leitao are among the speakers. 08:00 EDT.
- U.K. Secretary of State for Exiting the European Union David Davis faces questions from lawmakers on the House of Commons Foreign Affairs Committee. 15:00 (10:00 EDT) in London.
- The South African Reserve Bank releases its Quarterly Bulletin for the three months through June, with information about the balance of payments, current account and household debt. 10:00 in Pretoria (04:00 EDT).
- Venezuelan President Nicolas Maduro hosts the 17th summit of the Non-Aligned Movement on Margarita Island. Through Sept. 18.
- CNBC and Institutional Investor host the sixth annual Delivering Alpha Conference. U.S. Treasury Secretary Jack Lew will deliver the keynote address, while Elliot Management Corp. founder Paul Singer and Bridgewater Associates’ Ray Dalio count among speakers. 08:30 in New York. Click here for agenda.
- The Deutsche Bank Technology Conference takes place in Las Vegas. Workday Inc. co-founder Aneel Bhusri and Scott Guthrie, executive vice president of Microsoft Corp.’s Cloud and Enterprise group, give keynote speeches. Click here for agenda. Through Sept. 14.
- Solar Power International, the industry’s largest gathering, is also held in Las Vegas. Speakers include Sunrun Inc. Chief Executive Officer Lynn Jurich and Ben Bixby, head of Alphabet Inc.’s Nest Labs. Through Sept. 15.
- Argentina hosts its Business & Investment Forum to sell South America’s second-biggest economy as an investment destination. Bloomberg News interviews President Mauricio Macri and Orascom Telecom Media and Technology Holding SAE Chairman Naguib Sawiris. In Buenos Aires through Sept. 15.
- Boeing Co. unveils its T-X trainer plane, designed jointly with Sweden’s Saab AB. The company is counting on the model to train generations of U.S. fighter pilots, and keep alive its St. Louis manufacturing base. 10:00 in St. Louis (11:00 EDT).
- The World Bank publishes “Toward a Blue Economy: A Promise for Sustainable Growth in the Caribbean.” Click here to see report following its release.
- CENTRAL BANKS: Reserve Bank of Australia Assistant Governor Christopher Kent speaks in Sydney at 08:30 (18:30 EDT).
- ECONOMY: U.S. NFIB small business optimism (Aug.) and U.S. Treasury budget statement (Aug.); Brazil retail sales (July); China industrial production, retail sales and fixed assets investment (Aug.); South Africa current-account balance (second quarter); Israel trade balance (Aug.); Poland trade balance (July); U.K. inflation (Aug.)
- EARNINGS: Partners Group Holding AG is among companies posting results. For an expanded list of today’s releases, click here.
ENERGY/COMMODITIES: International Energy Agency oil market report (monthly)
Wednesday, Sept. 14
- European Commission President Jean-Claude Juncker gives a “State of the Union” speech to the European Parliament at 09:00 CET (03:00 EDT). He may discuss the European Union’s future without the U.K. and policies in areas such as security and the economy.
- German Chancellor Angela Merkel addresses a campaign rally in Berlin ahead of elections for the capital’s city council on Sept. 18. 18:00 CET (12:00 EDT).
- Bank of Canada Senior Deputy Governor Carolyn Wilkins delivers a lecture at the Official Monetary and Financial Institutions Forum in London. 11:30 (06:30 EDT). Her remarks will be published on the bank’s website at 06:15 (EDT).
- Fitch Ratings holds a conference on the Russian economy and banking sector in Moscow. Click here for the agenda.
- Aung San Suu Kyi makes her first visit to Washington since her party took control of Myanmar’s government early this year. She is scheduled to meet with President Barack Obama at the White House. Timing to be determined.
- CENTRAL BANKS: Thailand rate decision
- ECONOMY: U.S. MBA mortgage applications (weekly); U.S. import price index (Aug.); Russia CPI (weekly); South Africa retail sales (July); Ghana CPI (Aug.); Israel current account balance (second quarter); U.K. unemployment and average earnings (July); euro-region industrial production (July)
- EARNINGS: Hermes International and Cracker Barrel Old Country Store Inc. are among companies reporting results. For a 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; International Energy Agency status of global energy report (annual)
Thursday, Sept. 15
- Bank of England rate decision. The central bank is forecast to leave its key rate at a record low 0.25 percent and the asset-purchase target at 435 billion pounds ($580 billion). The focus will be on its assessment of how the economy has performed since its last gathering on Aug. 4, when most officials saw scope for another rate cut this year. The minutes of the meeting will reveal how each policy maker voted. Noon in London (07:00 EDT). Follow the TOPLive blog for real-time coverage here.
- A key measure of U.S. retail sales may have expanded in August, suggesting consumers have resumed spending and will support a projected third-quarter rebound in gross domestic product growth. The Commerce Department releases figures at 08:30 in Washington.
- The Swiss National Bank’s gives its quarterly policy assessment. The central bank’s deposit rate is at a record low of minus 0.75 percent. The SNB will also issue growth and inflation forecasts. 09:30 CET in Zurich (04:30 EDT).
- A half-Taiwanese politician may become the first woman to lead Japan’s main opposition Democratic Party, as lawmakers and rank-and-file members vote in a leadership election. Renho, a former model and TV announcer, had been seen as the favorite, although her campaign has been clouded by questions over her nationality. She is running against former party leader Seiji Maehara and former finance ministry official Yuichiro Tamaki.
- The U.S. Climate Prediction Center releases its three-month climate outlook covering temperature and precipitation. Approximately 09:00 EDT.
- CENTRAL BANKS: Chile rate decision; Ukraine rate decision
- ECONOMY: U.S. jobless claims (weekly); Bloomberg Consumer Comfort (weekly); U.S. current-account balance (second quarter); U.S. industrial production and producer price index (Aug.); N.Y. Empire State manufacturing (Sept.); U.S. business inventories (July); U.S. Philadelphia Fed index (Sept.); New Zealand PMI (Aug.) and GDP (second quarter); Australia employment (Aug.); Singapore retail sales (July); Nigeria CPI (Aug.); Israel CPI data (Aug.); U.K. retail sales (Aug.); euro-region inflation (Aug.)
- EARNINGS: Oracle Corp. and Next Plc are among companies reporting results. For an expanded list of today’s releases, click here.
- ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on natural gas prices (weekly); EIA natural gas inventory report (weekly)
Friday, Sept. 16
- The U.S. consumer price index, excluding food and energy costs, may have risen at a slightly faster pace in August compared with a month earlier. The Labor Department releases data at 08:30 in Washington.
- European Union leaders meet to discuss its future path in the wake of the Brexit vote. The one-day summit seeks members’ agreement on policies in areas such as the economy and security that can help make the bloc more relevant to voters. Timings in Bratislava to be determined.
- ECONOMY: University of Michigan consumer sentiment (Sept., preliminary); U.S. real average weekly earnings (Aug.); U.S. Treasury international capital flows (July); U.S. household net worth (second quarter); Poland wages (Aug.)
- CENTRAL BANKS: Colombia meeting minutes; Mozambique rate decision; Russia rate decision -- follow the TOPLive blog for real-time coverage here.
- EARNINGS: For a list of today’s releases, click here.
- ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly)
- SOVEREIGN RATING UPDATES: Austria (S&P); Cyprus (S&P); Denmark (S&P); Finland (S&P); France (Moody’s); Hungary (S&P); Ireland (Moody’s); Lithuania (S&P); Luxembourg (S&P); Montenegro (Moody’s); Nigeria (S&P); Portugal (S&P); Russia (S&P); Slovenia (Moody’s)
Saturday, Sept. 17
- Chesapeake Energy Corp. co-founder Aubrey McClendon’s multi-million dollar wine collection will be auctioned by Hart Davis Hart Wine Co. McClendon, who died in an Oklahoma car crash in March, was a notorious oenophile. The estimated value of his collection of mostly Bordeaux wines is $5.1 million to $7.6 million. The live auction is in Chicago and begins at 08:30 (09:30 EDT).