Trump Transition; Carney and Yellen Speak: Week Ahead Nov. 14-19

  • Euro Finance Week; Los Angeles Auto Show; 13F filing deadline
  • Tencent, Wal-Mart, Vodafone post earnings; U.S. retail sales

President-elect Donald Trump and his advisers meet to continue transition planning and review names for his Cabinet and top staff members including White House chief of staff. Along with making more calls to foreign leaders, Trump is scheduled to meet with Japanese Prime Minister Shinzo Abe in New York. The meeting was requested by Abe.

Bank of England Governor Mark Carney testifies before the U.K. parliament’s Treasury Committee on the central bank’s economic forecasts and the outlook for policy, while Federal Reserve Chair Janet Yellen appears before Congress. Follow the TOPLive blog for real-time coverage of both events here.

America’s retailers probably enjoyed another solid month of sales in October as employment and wage gains encouraged households to keep shopping, a government report is projected to show this coming week. U.S. economic data may also indicate a pickup in inflationary pressures and a rebound in home construction.

U.S. President Barack Obama will be in Lima to attend the Asia Pacific Economic Cooperation Leaders’ Summit.

The Los Angeles Auto show will showcase several new models this year, including a Jeep, a Mercedes and a Mazda. Ford Motor Co. Chief Executive Officer Mark Fields will open the show.

Wal-Mart Stores Inc. and Vodafone Group Plc are among companies releasing earnings.

Monday, Nov. 14

  • Euro Finance Week begins in Frankfurt. This year’s conference is called “Brexit, Banking, Bubbles -- Chances and Risks in the New Normal.” European Central Bank Vice President Vitor Constancio gives the keynote speech at the opening at about 10:00 (04:00 EST). Through Nov. 18.

  • ECB President Mario Draghi, Bank of Italy Governor Ignazio Visco and Italian Finance Minister Pier Carlo Padoan speak at a ceremony in memory of late Italian Prime Minister and Bank of Italy Governor Carlo Azeglio Ciampi. 16:00 in Rome. (10:00 EST).

  • Money managers overseeing more than $100 million in U.S. traded stocks must report their holdings to the SEC in a Form 13F at the end of each quarter. The report, for the quarter ended Sept. 30, is due on Nov. 14.

  • U.S. Secretary of State John Kerry travels to Muscat, Oman. He’ll meet with His Royal Highness Sultan Qaboos and Foreign Minister Yusuf bin Alawi to discuss Yemen. On Nov. 15, Kerry visits Abu Dhabi to meet with Crown Prince Mohammed bin Zayed. Next he travels to Marrakesh to participate in COP22, the 2016 UN Climate Change Conference. Finally, Kerry joins President Obama in Lima, Peru, for the APEC meeting, where he will deliver remarks on advancing women’s economic empowerment. Through Nov. 18.

  • U.S. Federal Reserve Presidents Robert Kaplan, Jeffrey Lacker and John Williams all are scheduled to speak. Williams participates on a Pacific Business and Investment Briefing panel on Chinese trade and investment in San Francisco. Kaplan speaks in Wichita Falls, Texas, at 11:30 local time (12:30 EST). Lacker will take part on a panel discussion at Washington College in Chestertown, Maryland, timing to be determined.

  • The 24th Annual CCPPP National Conference features a discussion with Ontario Premier Kathleen Wynne on the province’s ambitious infrastructure plan and how it is being implemented. Luis Alberto Moreno, president of the Inter-American Development Bank, will also speak. Through Nov. 15 in Toronto.

  • The European Autumn Gas Conference in The Hague features presentations from Philippe Vedrenne, CEO of ENGIE Global Markets, and Alexander Medvedev, deputy chairman of Gazprom’s management committee. Through Nov. 16.

  • China releases October industrial production, fixed assets investment and retail sales data. 10:00 in Beijing (11/13 21:00 EST). Follow the TOPLive blog for real-time coverage here.

  • Japan’s economy probably grew in the third quarter at a similar pace to the previous three months. 08:50 in Tokyo (11/13 18:50 EST).

Mazda CX-5 debuts at L.A. Auto Show

Source: L.A. Auto Show website
  • Bank of Japan Governor Haruhiko Kuroda will speak in Nagoya to local business leaders.
    10:00 local time (11/13 20:00 EST).

  • The Los Angeles Auto Show opens to the media. New-model debuts include the E63 from Mercedes-AMG and the Mazda CX-5. Ford Motor Co. CEO Mark Fields delivers the keynote address. The show opens to the public from Nov. 18-27 at the Los Angeles Convention Center.

  • EU foreign ministers meet to discuss recent developments in Turkey and EU defense strategy. 09:30 in Brussels (03:30 EST).

  • French presidential front-runner Alain Juppe holds a campaign rally at 19:00 in Paris (13:00 EST).

  • U.K. Prime Minister Theresa May speaks at the annual Lord Mayor’s banquet in London’s financial district. Timing to be determined.

  • Norwegian painter Edvard Munch’s 1902 canvas “Girls on the Bridge” leads Sotheby’s Impressionist & Modern Art Evening sale in New York, with a presale estimate of more than $50 million. Four years ago Munch was named most expensive artist at auction when his painting “The Scream” sold to Leon Black for $119.9 million. 19:00 EST.

  • U.S. government bond auctions, Fed debt purchases. Click here for the schedule.

  • U.S. initial public stock offerings. Click here for the schedule.

  • CENTAL BANKS: Kazakh rate decision

  • EARNINGS: RWE AG is among companies announcing earnings. For an expanded list of companies posting results today, click here.

  • ENERGY/COMMODITIES: Manitoba crop update (weekly), USDA grain-export inspections and crop ratings (weekly), China releases data for crude, coal, gas, and refinery processing (Oct.), EIA drilling productively (monthly).

  • Here’s a list of today’s global economic releases:
COUNTRYDATACOUNTRYDATA
Euro-area industrial production (Sept.)Romaniaindustrial output (Sept.)
SerbiaCPI (Oct.)PolandCPI (Oct.)

Tuesday, Nov. 15

  • Sales at U.S. retailers probably rose at a healthy pace in October, boosted in part by strong demand for cars and underscoring resilient consumer spending, economists project the Commerce Department to report. 08:30 in Washington.

  • Bank of England Governor Mark Carney testifies before Parliament’s Treasury Committee on the bank’s latest Inflation Report, economic forecasts and the outlook for policy. Carney will also be questioned on his decision to extend his term at the BOE by a year to 2019. Deputy Governor Minouche Shafik and policy maker Michael Saunders will also attend. 10:00 in London (05:00 EST).

  • U.S. President Barack Obama visits Greece where he will meet with President Prokopis Pavlopoulos and Prime Minister Alexis Tsipras to discuss Greek debt and the refugee crisis. Through Nov. 17.

  • The U.S. Federal Reserve’s Eric Rosengren and Fed Vice Chairman Stanley Fischer are scheduled to speak. Boston Fed President Rosengren will be a keynote speaker at a Portland Chamber of Commerce event at 07:00 local time (10:00 EST). Fischer delivers keynote remarks at a Brookings Institution market liquidity event in Washington DC, at 13:30.

  • Canadian Finance Minister Bill Morneau speaks at the London School of Economics and Political Science about how Canada is investing in its middle class to strengthen the economy. 17:15 local time (12:15 EST).

  • Securities and Exchange Commission Chair Mary Jo White to testify before the House Financial Services Committee on “Examining the SEC’s Agenda, Operations, and Full Year 2018 Budget Request.” 10:00 in Washington.

  • The 2016 Canadian Aerospace Summit is held in Ottawa. Highlights include speeches by Lockheed Martin Corp. CEO Marillyn Hewson and Bombardier Inc. CEO Alain Bellemare. Through Nov. 16.

  • The Middle East Institute holds its 70th Annual Conference to discuss Middle East policy challenges for the next U.S. administration. Speakers include Bassem Youssef, an Egyptian satirist and former cardiac surgeon, and HRH Prince Turki bin Faisal Al Saud, former head of the Saudi Internal Security Service and former ambassador to the U.K. and the U.S. Click here for the agenda. Begins at 09:00 in Washington, DC.

  • Bank of America Merrill Lynch hosts the 2016 Future of Financials conference. Goldman Sachs Group Inc., Wells Fargo & Co., and JPMorgan Chase & Co. are among the participants. Bank of America Chief Operating Officer Tom Montag will deliver opening remarks. Through Nov. 16 in New York City.

  • EU defense ministers meet to discuss EU-NATO cooperation and common security. Timing to be determined.

  • European Commission President Jean-Claude Juncker takes part in a citizens’ dialogue at 19:00 in St. Vith, Belgium (13:00 EST).

  • Macau’s Chief Executive Fernando Chui will deliver the government’s 2017 policy address. 15:00 local time (02:00 EST).

  • EARNINGS: Home Depot Inc. and Vodafone Group Plc are among companies posting results. For an expanded list of today’s releases, click here.

  • ENERGY/COMMODITIES: American Petroleum Institute’s releases its petroleum inventory report (weekly), Bloomberg survey of analysts’ expectations on natural gas volume.

  • Here’s a list of today’s global ECONOMIC RELEASES:
COUNTRYDATACOUNTRYDATA
U.S.Empire State manufacturing (Nov.), import-price index (Oct.), business inventories (Sept.)GermanyGDP (third quarter), German ZEW investor confidence (Nov.)
South Africaunemployment (third quarter)IsraelCPI (Oct.)
Euro-areaGDP (third quarter), Italy GDP (third quarter)CanadaHome sales (Oct.)
Turkeyunemployment rate (Aug.)RomaniaGDP (third quarter)
SlovakiaGDP (third quarter)Hungary GDP (third quarter)
Czech RepublicGDP (third quarter)Poland GDP (third quarter)
Bulgaria GDP (third quarter)U.K. CPI (Oct.)

Wednesday, Nov. 16

  • U.S. Federal Reserve Presidents James Bullard, Neel Kashkari and Patrick Harker are all scheduled to speak. Harker speaks in Philadelphia on the purposes and functions of the Fed, at 17:30 EST. Minneapolis Fed President Kashkari speaks to the Economic Club of New York at 07:45. St. Louis Fed President Bullard addresses the UBS European Conference on “Monetary Policy After QE: Helicopter Money or Back to Raising Rates?” In London at 08:45 local time (03:45 EST).

  • ECB Executive Board member Sabine Lautenschlaeger gives a keynote speech at Euro Finance Week. Click here for the schedule. 09:30 in Frankfurt (03:30 EST).

  • French National Front leader Marine Le Pen inaugurates her presidential-election campaign headquarters. 11:00 in Paris (05:00 EST).

  • EARNINGS: Tencent Holdings Ltd. will report its results. Follow the TOPLive blog for real-time coverage here. For an expanded list of today’s releases, click here. 

  • CENTRAL BANKS: Zambia rate decision

  • ENERGY/COMMODITIES: U.S. EIA crude oil inventory report (weekly) with real-time coverage on the TOPLive blog; International Energy Agency publishes its annual World Energy Outlook, including its first full analysis of the implications of the Paris climate deal.

  • Here’s a list of today’s global ECONOMIC RELEASES:
COUNTRYDATACOUNTRYDATA
U.S.MBA mortgage applications (weekly), producer-price index (Oct.), industrial production (Oct.), NAHB homebuilder sentiment (Nov.), Treasury net international capital flows (Sept.) RussiaCPI (weekly)
South Africaretail sales (Sept.)U.K. unemployment (Sept.)
IsraelGDP (third quarter)

Thursday, Nov. 17

  • U.S. consumer prices probably accelerated in October, indicating inflation is moving toward the Federal Reserve’s goal, a Labor Department report is forecast to show at 08:30 in Washington.

  • Mexico rate decision. The central bank will probably raise borrowing costs for the fifth time in 12 months on concern that the peso’s decline to record lows will exacerbate above-target inflation. 13:00 in Mexico City (14:00 EDT).

  • Housing starts in the U.S. probably rebounded in October after plunging a month earlier on a slowdown in construction of apartment buildings. The Commerce Department will issue the figures at 08:30 in Washington.

  • President Barack Obama visits Germany for two days. He will meet with Chancellor Angela Merkel to review U.S. and German cooperation on issues ranging from the conflict in Syria to trans-Atlantic trade. They’ll also hold a meeting with the leaders of the U.K., France, Italy and Spain, before Obama leaves for Peru on Nov. 18.

  • European Central Bank Executive Board member Peter Praet participates in a panel discussion on the future of global finance integration at the Global Research Forum on International Macroeconomics and Finance in New York. 16:45 EST.

  • U.S. Federal Reserve Chair Janet Yellen will testify before the congressional Joint Economic Committee in Washington at 10:00 EST. Follow the TOPLive blog for real-time coverage.

  • Japanese Prime Minister Shinzo Abe will meet with U.S. President-elect Donald Trump to confirm their commitment to cooperation in the Asia-Pacific region. In New York, timing to be determined.

  • Shareholders of Tesla Motors Inc. and SolarCity Corp. vote on the proposal to combine the two companies in a roughly $2 billion deal. The SolarCity vote is at 11:00 local time (14:00 EST) in Foster City, California. The Tesla vote is at 13:00 in Fremont, California.

  • French Prime Minister Manuel Valls, German Finance Minister Wolfgang Schaeuble and Scottish First Minister Nicola Sturgeon are among the speakers at a two-day Economic Summit, hosted by the Sueddeutsche Zeitung newspaper. Valls speaks at 10:50 in Berlin (04:50 EST) and Sturgeon follows at 15:00. Schaeuble gives the keynote address at 11:00 on Friday.

  • The MIT Sloan CFO Summit brings global executives together to discuss mobile and digital technology in their businesses. Keynote speakers include chief financial officers of General Electric Co., United Parcel Service Inc. and PayPal Holdings Inc. Begins at 08:15 EST in Newton, MA.

  • ECB Executive Board member Yves Mersch gives the keynote speech at the Faros Institutional Investors Forum. 09:00 in Frankfurt (03:00 EST).

  • Bloomberg hosts Winter Power and Gas Outlook, in partnership with Genscape and Planalytics, to explore the gas and power market and the impact of this winter season. Starts at 15:30 EST in New York City. Click here for the agenda.

  • Citigroup Inc. CEO Mike Corbat is scheduled to speak about the future of banking at the Harvard Business School Club of New York. From 18:00 EST.

  • Spain’s King Felipe VI presides over a session of parliament to inaugurate the new legislative session. 09:00 in Madrid (03:00 EST).

  • The prosecution in the hate-speech court case against Dutch Freedom Party leader Geert Wilders will set out the sentence it’s seeking. Timing near Amsterdam to be determined.

  • CENTRAL BANKS: Bank of Canada publishes biannual review, Chile rate decision, Indonesia rate decision, ECB publishes account of Oct. 20 monetary policy meeting, Egypt rate decision

  • EARNINGS: Wal-Mart Stores Inc. and Manchester United Plc are among companies posting results. For a list of today’s releases, click here.

  • ENERGY/COMMODITIES: EIA natural gas inventory report (weekly), USDA crop net-export sales (weekly)

  • Here’s a list of today’s global ECONOMIC RELEASES:
COUNTRYDATACOUNTRYDATA
U.S.jobless claims (weekly), consumer comfort index (weekly & monthly), Philadelphia Fed manufacturing (Nov.)U.K. retail sales (Oct.)
Australiaunemployment rate (Oct.)Singaporeexports (Oct.)
PhilippinesGDP (third quarter)NigeriaCPI (Oct.)

Friday, Nov. 18

  • President Barack Obama visits Peru to attend the Asia Pacific Economic Cooperation (APEC) Leaders’ Summit. He will meet with leaders of the Trans-Pacific Partnership (TPP) member countries on the margins of the APEC meeting. Obama will also meet Peru President Pedro Pablo Kuczynski. In Lima, through Nov. 20.

  • ECB President Mario Draghi gives the keynote speech at the 26th European Banking Congress. About 09:30 in Frankfurt (03:30 EST).

  • U.S. Federal Reserve Bank Presidents James Bullard and Esther George give speeches. Kansas City Fed President George speaks at an oil conference hosted by the Dallas Fed in Houston at 08:30 local time (09:30 EST), and St. Louis Fed President Bullard joins Swiss National Bank Board Member Andrea Maechler in a panel discussion on monetary policy at Euro Finance Week in Frankfurt at 11:30 local time (05:30 EST). Jens Weidmann, Deutsche Bundesbank president, gives a keynote speech before that discussion.

  • The 2nd World Grain Forum is held in Sochi, Russia. Russian Prime Minister Dmitry Medvedev and Deputy Prime Minister Arkady Dvorkovich will attend. Through Nov. 19.

  • EARNINGS: Foot Locker Inc. is among companies reporting earnings. For an expanded list of today’s releases, click here.

  • ENERGY/COMMODITIES: Baker Hughes U.S. oil-and-gas rig count (weekly), CFTC futures and options positions (weekly), Alberta crop update (weekly).

  • SOVEREIGN RATING UPDATES: Bosnia (Moody’s), Denmark (Moody’s), Estonia (Fitch, Moody’s), Hungary (Fitch), Netherlands (S&P), Rwanda (Fitch), Serbia (Moody’s), Swiss Confederation (S&P), Uganda (Moody’s).

  • Here’s a list of today’s ECONOMIC RELEASES:
COUNTRYDATACOUNTRYDATA
U.S.leading economic indicators (Oct.), Kansas City Fed manufacturing (Nov.)CanadaCPI (Oct.)
ChileGDP (third quarter)Russiaunemployment (Oct.), wages (Oct.), retail sales (Oct.)
Chinaproperty prices (Oct.)

Saturday, Nov. 19

  • The Asia Pacific Economic Cooperation Leaders’ Summit is held in Lima. This year’s theme is human capital development: education, labor, employment and innovation. Presidents Barack Obama, Vladimir Putin and Xi Jinping will attend, along with Facebook Inc. founder Mark Zuckerberg and Japanese Prime Minister Shinzo Abe. Through Nov. 20.

  • Rugby’s Autumn Internationals continue. Click here for the schedule and match times.

  • The Barclays ATP World Tour Finals reaches its semifinal stage.

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