Clinton-Trump Debate, Musk on Mars: Week Ahead Sept. 26-Oct. 1by , , and
Fed officials back on road; personal spending leads U.S. data
Algiers forum gives OPEC ministers chance to talk oil prices
Hillary Clinton and Donald Trump will face each other, and likely a record television audience, in the first general election debate of the 2016 presidential campaign on Monday. Follow the TOPLive blog for real-time coverage here.
Investors will be tuning in to a fresh round of speeches by U.S. Federal Reserve Bank regional presidents and Chair Janet Yellen, seeking clues to next steps on interest rates after the Sept. 20-21 Open Market Committee meeting.
U.S. personal spending probably rose at a slower pace in August, indicating more moderate growth in purchases after the strongest quarter since the end of 2014.
OPEC ministers attending the International Energy Forum in Algiers will be able to talk informally about action to shore up oil prices two years after the group abandoned production caps. Russia also may be involved in the discussion.
Elon Musk, the billionaire founder of Space Exploration Technologies Corp., will lay out his plan to colonize Mars at an international conference in Mexico.
Colombia and the anti-government FARC rebels will sign a historic peace deal, while political leaders in Cyprus discuss reunification. European leaders will discuss stemming the flow of migrants.
Monday, Sept. 26
- The first of three televised U.S. presidential debates between Hillary Clinton and Donald Trump is held at Hofstra University in Hempstead, New York. Lester Holt of NBC News will moderate. 21:00 EDT.
- The Securities Industry and Financial Markets Association holds its annual capital markets conference. Scheduled speakers include Twitter Inc. co-founder and Chief Executive Officer Jack Dorsey, Commodity Futures Trading Commission Chairman Timothy Massad and U.S. Securities and Exchange Commission Chair Mary Jo White. In Washington, through Sept. 27.
- The 67th annual International Astronautical Congress meets in Guadalajara, Mexico. SpaceX CEO Elon Musk will lay out his plans to colonize Mars on the second day of the conference, Sept. 27 at 13:30 local time (14:30 EDT). Through Sept. 30.
- Advertising Week in New York City features General Motors Co. CEO Mary Barra and Facebook Inc. Chief Operating Officer Sheryl Sandberg. Click here for the calendar. Through Sept. 30.
- Argentina Central Bank President Federico Sturzenegger presents the country’s 2017 inflation targets at a press conference in Buenos Aires. Timing to be determined.
- U.S. Treasury Secretary Jack Lew travels to Argentina, Brazil, Colombia and Mexico for meetings to promote economic growth and combat money laundering. Through Sept. 29.
- European Central Bank’s Yves Mersch makes opening remarks at the Sibos financial conference at 10:15 in Geneva. (04:15 EDT). Speakers include Swiss National Bank President Thomas Jordan. Through Sept. 29.
- Italian Prime Minister Matteo Renzi’s cabinet meets to set a date for the planned referendum on constitutional reform. Time in Rome to be determined.
- European Central Bank President Mario Draghi speaks at a quarterly hearing of the Committee on Economic and Monetary Affairs of the European Parliament. The event starts at 16:05 in Brussels (10:05 EDT).
- European Union defense ministers start a two-day meeting on bolstering military cooperation. Time in Bratislava, Slovakia, to be determined.
- The International Atomic Energy Agency begins its general conference, with the Iran nuclear deal among topics to be discussed. In Vienna, through Sept. 30.
- Azerbaijan holds a constitutional referendum on whether to extend presidential terms to seven years from five, scrap the age limit for candidates and grant power to order snap presidential elections. Protesters have demanded President Ilham Aliyev step down.
- Czech central bank Governor Jiri Rusnok speaks at a conference on doing business in central and eastern Europe. 09:00 local time (03:00 EDT) in Prague.
- European Central Bank Executive Board Adviser Ignazio Angeloni speaks in London. 13:30 in London, (08:30 EDT).
- Colombian President Juan Manuel Santos will sign a definitive peace deal with the FARC Marxist rebels in Cartagena to end a 52-year war. Regional leaders will join U.S. Secretary of State John Kerry and International Monetary Fund’s Christine Lagarde. Timing to be determined.
- The 15th International Energy Forum will be held in Algiers, with participants including energy ministers from OPEC nations and Russia. Through Sept. 28.
- Sales of new U.S. one-family homes probably declined in August from an almost nine-year high, settling at a pace that remains consistent with steady housing demand, a report from the Commerce Department is projected to show. 10:00 in Washington.
- Stephen Poloz, governor of the Bank of Canada, gives a lecture at Western Washington University in Bellingham, Washington. Remarks will be published on the bank’s website at 19:00 EDT.
- U.S. Federal Reserve Bank of Dallas President Robert Kaplan speaks at the annual convention of the Independent Bankers Association of Texas at 12:30 in San Antonio. (13:30 EDT). Fed President Neel Kashkari will open the Too-Big-To-Fail symposium, sponsored by the Minneapolis Fed. 08:30 local time (09:30 EDT).
- CENTRAL BANKS: Armenia sets refinancing rate, Israel base rate decision.
- ECONOMY: Dallas Fed manufacturing index (Sept.); New Zealand trade (Aug.); Germany IFO business climate (Sept.); Turkey real sector confidence index (Sept.) and capacity utilization data (Sept.); Portugal budget report (Aug.); Finland retail sales (Aug.); Brazil current account (Aug.)
- EARNINGS: Carnival Corp. is among companies reporting results. For an expanded list of today’s releases, click here.
- ENERGY/COMMODITIES: USDA crop data (weekly), Manitoba crops report (weekly), EU MARS crop report (Aug.)
Tuesday, Sept. 27
- American Banker hosts the Marketplace Lending & Investing conference in New York City. Harit Talwar, managing director of merchant banking at Goldman Sachs Group Inc., will be interviewed at 15:40 EDT. Click here for the agenda. Through Sept. 28.
- The Global Gaming Expo, the annual casino-industry conference, is held in Las Vegas. Though Sept. 29.
- Moody’s Investors Service holds its annual Latin America conference in Sao Paulo, with Brazil’s corporate outlook, sovereign rating and Latin America credit trends among the discussion topics. Starts at 08:00 local time (07:00 EDT).
- South African Finance Minister Pravin Gordhan speaks at an event hosted by Nedbank Group Ltd. Gordhan is being probed by police for overseeing the set up of an allegedly illicit unit while head of the nation’s tax agency. 18:00 in Johannesburg (12:00 EDT).
- Caixa Geral de Depositos SA CEO Antonio Domingues speaks at a parliamentary hearing on the Portuguese state-owned bank’s recapitalization. 15:00 in Lisbon (09:00 EDT).
- Bank of England Chief Economist Andrew Haldane speaks at the London School of Economics on productivity at 18:30 in London (13:30 EDT).
- Italy’s government releases its 2017 budget forecasts, signaling how much deficit flexibility Prime Minister Matteo Renzi has won from the EU. Time in Rome to be determined.
- Greek lawmakers vote on the government’s omnibus bill, with measures needed for disbursement of the pending bailout-loan tranche. Time in Athens to be determined.
- Former International Monetary Fund Managing Director Rodrigo Rato and others go on trial in Spain for alleged misuse of corporate credit cards while he was chairman of bailout lender Bankia. Time in Madrid to be determined.
- German Chancellor Angela Merkel speaks in honor of the leader of Germany’s Sinti and Roma community. She’s likely to address diversity in Germany and assimilation of refugees. 18:00 in Berlin (12:00 EDT).
- Kuwait central bank Governor Mohammed Al-Hashel speaks at Kuwait’s Euromoney conference. Opening session at 08:55 in Kuwait City (01:55 EDT) Click here for agenda.
- CENTRAL BANKS: Rate decisions in Morocco and Rwanda.
- ECONOMY: U.S. S&P CoreLogic home-price index (July), Markit services PMI (Sept. prelim.), consumer confidence index and Richmond Fed manufacturing (Sept.); China industrial profits (Aug.); Hong Kong trade (Aug.); euro zone M3 money supply (Aug.); South Africa non-farm payrolls (2Q)
- EARNINGS: Nike Inc. is among companies posting results. For an expanded list of today’s releases, click here.
- ENERGY/COMMODITIES: International Grains Council forecasts (13:30 London), American Petroleum Institute petroleum inventory report (weekly).
Wednesday, Sept. 28
- Christine Lagarde, managing director of the International Monetary Fund, lectures at Northwestern University’s Kellogg School of Management. 09:30 in Evanston, Illinois (10:30 EDT).
- Orders for U.S. durable goods probably fell in August for the third time in the last four months, underscoring persistent weakness among American manufacturers. The Commerce Department will issue the data at 08:30 in Washington.
- U.S. Federal Reserve Bank Presidents James Bullard, Charles Evans, Loretta Mester and Esther George all give speeches on community banking, the economic outlook and policy. Click here for more information.
- European Central Bank President Mario Draghi discusses monetary policy and the euro-area economy with German lawmakers at a closed-door meeting of the European Affairs Committee starting at 15:30 in Berlin (09:30 EDT). He’s expected to comment to reporters about 17:00 (11:00 EDT).
- French President Francois Hollande’s cabinet meets to clear the final 2017 French budget details. 11:00 in Paris (05:00 EDT).
- Greek Finance Minister Euclid Tsakalotos speaks at 18:00 at the European Investment Bank in Luxembourg (12:00 EDT).
- Estonian Economy Minister Kristen Michal speaks on plans for managing state-owned companies and potential privatizations in 2017, at 8:10 in Tallinn (01:10 EDT).
- Polish Finance Minister Pawel Szalamacha speaks at a financial regulation conference in Warsaw. Agenda to be determined. Through Sept. 30.
- Bloomberg Markets hosts its annual Most Influential Summits. Bank of England Deputy Governor Minouche Shafik speaks at 09:00 in London (04:00 EDT). Speakers in New York City include Ford Motor Co. CEO Mark Fields; Ed Garden, founding partner of Trian Fund Management LP; and Ken Moelis, founder of Moelis and Co. Click here for the agenda. Follow the TOPLive blog for real-time coverage here.
- European Central Bank President Mario Draghi gives welcome address at first ECB Annual Research Conference at 10:00 in London (05:00 EDT). Draghi also appears at Bundestag in Berlin at 15:30 (08:30 EDT).
- CENTRAL BANKS: Brazil bank lending report (Aug.)
- ECONOMY: U.S. MBA mortgage applications (weekly); Russia CPI (weekly); Brazil total outstanding loans (Aug.); Germany GfK confidence (Oct.); Kazakhstan GDP (2Q, final); Ghana GDP (2Q)
- EARNINGS: Blackberry Ltd. is among companies reporting results. For a list of today’s releases, click here.
- ENERGY/COMMODITIES: U.S. EIA crude oil inventory report (weekly), with real-time coverage on the TOPLive blog here. Bloomberg survey analysts’ expectations on natural gas volume in storage (weekly)
Thursday, Sept. 29
- U.S. Federal Reserve Chair Janet Yellen will speak via video link at a forum for minority bankers hosted by the Kansas City Federal Reserve bank. 16:00 EDT.
- U.S. Federal Reserve Bank of Philadelphia President Patrick Harker delivers a speech in Dublin. Fed Bank of Atlanta President Dennis Lockhart speaks to the Future of Florida Forum; Fed Governor Jerome Powell speaks in St. Louis, and Fed Bank of Minneapolis President Neel Kashkari speaks at a town hall event in Rapid City, South Dakota. Click here for more information.
- Wells Fargo & Co. CEO John Stumpf has been summoned to testify before the U.S. House Financial Services Committee about the bank’s account scandal. 10:00 in Washington.
- European Central Bank Vice President Vitor Constancio chairs a panel on “Monetary Policy and Financial Stability in a Low Interest Rate Environment” at the ECB Annual Research Conference in Frankfurt. Bank of England’s Kristin Forbes appears on a panel at the same event. 16:00 in Frankfurt (10:00 EDT). Through Sept. 29.
- Russian Prime Minister Dmitry Medvedev, Finance Minister Anton Siluanov and central bankers may speak at an investment forum in Sochi. Through Oct. 2.
- The Ryder Cup, the biennial men’s golf competition between teams from Europe and the U.S., opens at Hazeltine National Golf Club in Chaska, Minnesota. Through Oct. 2.
- CENTRAL BANKS: Rate decisions in Mexico and Czech Republic.
- ECONOMY: U.S. jobless claims and consumer comfort index (weekly), advanced goods trade balance, wholesale inventories and pending home sales (Aug.), and second-quarter GDP (third estimate); Canada banking & financial statistics (Aug.); Brazil IGP-M inflation (Sept.); South Africa M3 money supply, private-sector credit and producer inflation (Aug.); Portugal consumer confidence (Sept.); German inflation (Sept.); U.K. mortgage approvals (Aug.); euro zone economic confidence (Sept.).
- EARNINGS: PepsiCo Inc. and Costco Wholesale Corp. 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); Saskatchewan crop update (weekly); Buenos Aires Grain Exchange crop report (weekly); USDA crop net-export sales (weekly)
Friday, Sept. 30
- U.S. personal spending probably rose at a slower pace in August as Americans kept purchases more in line with income growth, a Commerce Department report is projected to show. 08:30 in Washington.
- CENTRAL BANKS: Rate decisions in Colombia and Romania, Brazil primary budget report.
- ECONOMY: U.S. MNI Chicago PMI (Sept.) and Michigan consumer sentiment (Sept. final); Brazil unemployment rate and primary budget balance (Aug.); Chile unemployment rate (Aug.); Caixin China manufacturing PMI (Sept.), Hong Kong retail sales (Aug.); Australia new home sales (Aug.); Japan CPI and industrial production (Aug.); euro zone unemployment (Aug.) and inflation (Sept.); U.K.third estimate of GDP (2Q), GFK U.K. Consumer Confidence Indicator (Sept.) and U.K. Lloyds Bank Business Barometer (Sept.); Czech GDP (2Q, final); Poland CPI (Sept.); Serbia industrial output (Aug.); South Africa trade balance and monthly budget balance (Aug.); Kenya GDP (2Q) and consumer inflation (Sept.); Portugal retail sales and industrial production index (Aug.).
- EARNINGS: McCormick & Co. Inc. is among companies reporting earnings. For a list of today’s releases, click here.
- ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly), Alberta crop update (weekly), CFTC futures and options positions (weekly), U.S. EIA petroleum supply report (monthly),
- SOVEREIGN RATING UPDATES: Bulgaria (Moody’s), EFSF (Moody’s), Georgia (Fitch), Macedonia (S&P), Qatar (Moody’s), Spain (S&P).
Saturday, Oct. 1
- Congress must pass legislation to fund the U.S. government by today to avoid a shutdown.
- ECONOMY: China manufacturing and non-manufacturing PMI (Sept.).