por admin » Lun Ago 22, 2016 7:52 am
Yellen at Jackson Hole; U.S. Housing Data: Week Ahead Aug. 22-27
Lexi Nahl James Amott Stanley James
August 20, 2016 — 11:39 PM EDT
Stanley Fischer, former governor of the Bank of Israel and nominee to be vice chairman of the U.S. Federal Reserve, speaks during a Senate Banking Committee nomination hearing in Washington, D.C., U.S., on Thursday, March 13, 2014. Fischer, the nominee to be Federal Reserve Chair Janet Yellen's top lieutenant, said the world's largest economy still needs unprecedented accommodation amid high joblessness.
U.S. Fed Chair Janet Yellen speaks at the Federal Reserve Bank of Kansas City’s two-day Monetary Policy Symposium at Jackson Hole, Wyoming. Investors will be watching her remarks closely to gauge the likelihood of a rate hike in September. Follow the TOPLive blog for real-time coverage here.
The housing market remains on solid footing as Americans take advantage of cheap mortgage rates, based on economists’ forecasts ahead of a report in the coming week. Another report is projected to show orders for durable goods advanced in July on more bookings for commercial aircraft.
German Chancellor Angela Merkel visits European allies, with talks scheduled in Italy, Estonia and the Czech Republic.
Germany and the U.K. release economic growth figures for the second quarter.
China Vanke Co. Ltd., Medtronic Plc, WPP Plc and Royal Bank of Canada are among companies releasing earnings this week. For an expanded weekly list, click here. Check LIVE <GO> for conference-call coverage.
Monday, Aug. 22
The Public Service Commission of Utah will review Dominion Resources Inc.’s proposed $4.4 billion bid for Salt Lake City-based utility Questar Corp. The state Office of Consumer Services has raised concerns over the deal. 09:00 local time (11:00 EDT).
German Chancellor Angela Merkel, French President Francois Hollande and Italian Prime Minister Matteo Renzi meet for talks on the European Union, economic growth and migration. Press conference at 18:00 CET (12:00 EDT) on an aircraft carrier off the Italian island of Ventotene in the Tyrhennian Sea.
The Intersolar South America Conference begins in Sao Paulo. Talks will center around the state of the South American solar industry. For a complete schedule of events, click here. 09:00 local time (08:00 EDT). Through Aug. 25.
Missouri Public Service Commission deadline for position statements on Algonquin Power & Utilities Corp.’s $1.49 billion takeover of Empire District Electric Co. Timing to be determined.
The Pro Farmer Annual Midwest Crop Tour begins in Sioux Falls, South Dakota, and Dublin, Ohio. The purpose of the event is to provide the industry with accurate data about seasonal crops in anticipation of harvest season. For a complete schedule of events, click here. Through Aug. 25.
South African Reserve Bank Governor Lesetja Kganyago and deputy governors brief reporters on the domestic and global economy. 10:00 in Cape Town (4:00 EDT).
The European Union’s Monitoring Agricultural Resources unit publishes a bulletin on crop weather, yield forecasts and pasture conditions. Timing to be determined.
ECONOMY: Chicago Fed national activity index (July); Canadian June wholesale sales report and Bloomberg Nanos Canada Consumer Confidence Index; Mexico GDP (second-quarter final); Peru GDP (second quarter); Taiwan unemployment and export orders (both for July); Hong Kong consumer prices (July); Israel unemployment rate (July); Ukraine industrial production (July).
EARNINGS: For a list of today’s releases, click here.
ENERGY/COMMODITIES: U.S. Agriculture Department crops data (weekly) and data for grain-export inspections; Manitoba weekly crop update.
Tuesday, Aug. 23
Sales of new U.S. single-family homes probably stayed close to a more than eight-year high, helped by a healthy labor market and low mortgage rates. The Commerce Department will issue the data at 10:00 in Washington.
CENTRAL BANKS: Rate decisions in Turkey and Hungary.
ECONOMY: U.S. Markit manufacturing PMI and Richmond Fed manufacturing (both for August); Brazil current account (July); Mexico retail sales (June); Singapore CPI (July); Taiwan industrial production (July); South Africa leading indicator (June); euro-zone manufacturing PMI, services PMI and consumer confidence (all for August); U.K. CBI manufacturing orders (Aug.).
EARNINGS: PetroChina Co. and Bank of Montreal are among companies announcing earnings. For an expanded list of today’s releases, click here.
ENERGY/COMMODITIES: Canada crop production.
Wednesday, Aug. 24
Glencore Plc is among companies reporting earnings. For real-time coverage of the report, see the TOPLive blog here. For an expanded list of today’s releases, click here.
Purchases of previously owned U.S. homes in July probably held close to a nine-year high, economists project the National Association of Realtors to report. 10:00 in Washington.
U.S. Secretary of State John Kerry visits Turkey to strengthen ties between the two countries in the aftershock of a failed military coup.
Singapore’s Prime Minister Lee Hsien Loong will visit Indonesia for three days of meetings. Lee will hold discussions with President Joko Widodo and other senior ministers during meetings in Semarang, central Java.
German Chancellor Angela Merkel visits Tallinn, Estonia, for talks expected to focus on the European Union’s future and security matters.
ECONOMY: U.S. MBA mortgage applications (weekly); Brazil IPCA-15 inflation index (Aug.); Mexico bi-weekly CPI (Aug 15); Malaysia CPI (July); South Africa CPI (July); Russia weekly CPI (Aug. 22); Czech consumer confidence (Aug.); Germany GDP (second quarter); U.K. BBA loans for house purchase (July).
ENERGY/COMMODITIES: Bloomberg survey of analysts’ expectations on natural gas volume (weekly), U.S. Energy Information Administration oil inventory report.
Thursday, Aug. 25
Volkswagen AG must provide an update on its regulatory approval to fix 8.5 million diesel engines in part of a settlement before U.S. District Judge Charles Breyer. This deadline comes in the wake of the automaker’s emissions scandal. 09:00 in San Francisco (12:00 EDT).
Orders for U.S. durable goods probably rebounded in July as a pickup in commercial aircraft bookings made up for tepid demand for other business equipment, economists forecast the Commerce Department to report. 08:30 in Washington.
German Chancellor Angela Merkel travels for talks with Czech leaders as European Union nations grapple with how to handle Britain’s exit from the bloc. Schedule in Prague to be determined.
The U.K.’s Office for National Statistics issues migration data for the first quarter of 2016, showing whether net migration rose in the runup to June’s vote to leave the EU. Net migration for 2015 was a near-record 333,000. 09:30 in London (04:30 EDT).
The Board of Governors of Mexico’s central bank releases monetary policy meeting minutes. A report on the balance of payments is expected in the publication. 09:00 local time (10:00 EDT).
ECONOMY: U.S. jobless claims (weekly), Bloomberg Consumer Comfort (weekly, monthly expectations), U.S. Markit services PMI (Aug. preliminary) and Kansas City Fed manufacturing (Aug.); Brazil total outstanding loans (July); Hong Kong trade data (July); South Korea household credit data (second quarter); South Africa PPI (July); Bloomberg August Turkey Economic Survey and capacity utilization (Aug.); Serbia wages (July); Germany’s IFO report (Aug.); U.K. CBI retailing report (Aug.).
EARNINGS: Medtronic Plc and Vivendi SA are among companies announcing earnings. For an expanded list of today’s releases, click here.
ENERGY/COMMODITIES: U.S. EIA natural gas inventory report (weekly), with real-time coverage on the TOPLive blog here. Also, Bloomberg survey of analysts’ expectations on natural gas prices (weekly), USDA crop net-export sales (weekly), Buenos Aires Grain Exchange crop report (weekly).
Friday, Aug. 26
U.S. Fed Chair Janet Yellen speaks at the Kansas City Fed’s annual Monetary Policy Symposium in Jackson Hole, Wyoming. Minutes from the Federal Open Market Committee’s July meeting showed officials were split on whether an increase was needed soon. 09:00 local time (11:00 EDT).
The California Energy Commission and related agencies hold a workshop on the risk of winter power and natural gas shortages in the Los Angeles area because of restrictions on Sempra Energy’s Aliso Canyon natural gas storage field. For a full schedule of events, click here. 10:00 local time (13:00 EDT).
ECONOMY: U.S. advanced merchandise trade deficit (Jul.), GDP (second-quarter estimate) and Michigan consumer sentiment (Aug. final); South Korea consumer confidence (August); Japan CPI (July); Germany GfK consumer confidence (Sept.); U.K. GDP (second quarter); euro-area M3 money supply (July).
EARNINGS: Lukoil PJSC and Prada SpA are 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), Commodity Futures Trading Commission weekly report on futures and options positions for oil (03:30 EDT), Alberta crop update (weekly), results from the ProFarmer U.S. Crop Tour (14:15 EDT).
SOVEREIGN RATING UPDATES: Azerbaijan (Fitch), Iraq (S&P), Oman (Moody’s), Sweden (Fitch), Tunisia (Fitch), Zambia (S&P).