Fed, Clinton-Trump Debate Prep: Week Ahead Sept. 17-24
(Bloomberg) -- Federal Reserve policy makers are projected to forgo raising their benchmark interest rate at the conclusion of their two-day meeting.
While Chair Janet Yellen and others on the Federal Open Market Committee have indicated they are closer to an increase, some officials have argued there’s little urgency because there are few signs of budding inflationary pressures even with a tighter labor market. Follow the TOPLive blog for real-time coverage here.
Hillary Clinton and Donald Trump will head into the home stretch toward the first of their three presidential debates, on Sept. 26. They’ll spend time in private preparing for that forum while continuing with their public campaign schedules. The vice presidential debate will be held Oct. 4, followed by the final two top-of-the-ticket meetings on Oct. 9 and Oct. 19.
Reports on home sales and residential construction highlight an otherwise light week for U.S. economic data, while Inditex SA, FedEx Corp. and Adobe Systems Inc. are among companies releasing earnings.
The United Nations brings global leaders to New York City for the General Debate and a summit on refugees. New York also hosts the Clinton Global Initiative.
Japan, Hungary, Indonesia, Nigeria, Norway and South Africa set monetary policy.
Want an autographed NFL football signed by “The Gipper”? Christie’s International Plc will auction hundreds of personal items that belonged to former President Ronald Reagan and his wife, Nancy.
Saturday, Sept. 17
- The FARC guerrilla group holds a conference in southern Colombia to discuss its peace accord with the Colombian government as the two sides try to end a 52-year conflict. Through Sept. 23.
- The Rugby Championship reaches round four with New Zealand hosting South Africa and Argentina visiting Australia. Click here for the schedule.
Sunday, Sept. 18
- Russian holds elections for its Duma, where President Vladimir Putin’s United Russia party is still likely to command a comfortable majority even as its support in opinion surveys slumps to about 40 percent. Polls close at 21:00 in Moscow (14:00 EDT).
- In Berlin state elections, German Chancellor Angela Merkel’s Christian Democratic Union confronts an emerging challenge from the right-wing Alternative for Germany. Exit polls at 18:00 CET (12:00 EDT).
- France’s National Front leader Marine Le Pen completes a two-day meeting of party members in Frejus, with a keynote speech at 15:15 CET (09:15 EDT).
- The 68th Emmy Awards for prime-time television airs live on ABC from the Microsoft Theater in Los Angeles. “Game of Thrones” and “The People v. O.J. Simpson” lead the nominees. Jimmy Kimmel hosts. 16:00 local time (19:00 EDT).
- Oracle OpenWorld focuses on cloud computing, with speakers including Larry Ellison, co-founder/chief technology officer of Oracle Corp., and Infosys Ltd. Chief Executive Officer Vishal Sikka. In San Francisco, through Sept. 22.
- ECONOMY: Israel GDP (second quarter)
Monday, Sept. 19
- The Clinton Global Initiative’s annual meeting includes panelists Bill and Chelsea Clinton and Sony Corp. CEO Kazuo Hirai. Through Sept. 21 in New York City.
- Bank of Montreal hosts its annual North American Real Estate conference, with presenters including Prudential Plc, Macy’s Inc. and Washington Prime Group Inc. In Chicago, through Sept. 20.
- Argentina President Mauricio Macri and Finance Minister Alfonso Prat-Gay speak at the Financial Times’ “Investing in the New Argentina” conference. Begins at 14:00 in New York City.
- Argentina’s central bank hosts a monetary policy conference. Speakers include Argentina Central Bank President Federico Sturzenegger, Mexico Central Bank Governor Agustin Carstens and Brazil Central Bank President Ilan Goldfajn. Through Sept. 20 in Buenos Aires.
- U.S. Energy Secretary Ernest Moniz and U.S. Special Envoy for Climate Change Jonathan Pershing speak at Climate Week NYC. In New York City through Sept. 25.
- Barrick Gold Corp. and Newmont Mining Corp. are among the participants at the Denver Gold Group’s 27th Denver Gold Forum in Colorado Springs, Colorado. Click here for a complete list. Through Sept. 21.
- CENTRAL BANKS: Ghana rate decision
- ECONOMY: U.S. NAHB homebuilder sentiment (Sept.); China property prices (Aug.); U.K. Rightmove house prices (Sept.); Poland industrial output and retail sales (Aug.); Russia unemployment, wages and retail sales (Aug.); Ukraine GDP (second quarter)
- EARNINGS: Ascena Retail Group Inc. is among companies reporting results. For an expanded list of today’s releases, click here.
- ENERGY/COMMODITIES: U.S. DOA crop data (weekly), Manitoba crops report (weekly)
Tuesday, Sept. 20
- Bank of Japan board members begin a two-day meeting to consider policy and the results of a comprehensive review of their monetary policy program.
- Housing starts in the U.S. probably declined in August after climbing to a five-month high in July. The Commerce Department will issue the figures at 08:30 in Washington.
- The United Nations General Debate begins. Speakers include U.S. President Barack Obama -- who will host the UN’s Leaders’ Summit on the global refugee crisis -- as well as French President Francois Hollande, U.K. Prime Minister Theresa May and Greek Prime Minister Alexis Tsipras. In New York City, through Sept. 26.
- Bank of Canada Governor Stephen Poloz speaks in Quebec City at 12:45 EDT, followed by a press conference at 14:00. The remarks will be published on the bank’s website at 12:30.
- European Union ministers meet in Brussels with an agenda that includes preparing for the Oct. 20-21 EU summit. Timing to be determined.
- Syngenta AG CEO Erik Fyrwald, Bayer CropScience LP CEO Jim Blome and Monsanto Co. Chief Technology Officer Robert Fraley are scheduled to testify at a U.S. Senate Judiciary Committee hearing on competition in the seed and agrochemical industry.
- Goldman Sachs Group Inc. hosts its 25th annual Communacopia 2016 conference, with cord cutting one of this year’s key themes. Comcast Corp., CBS Corp. and Level 3 Communications Inc. are among the presenters. In New York City, through Sept. 22.
- Speakers at Canada FinTech Forum include Steve Forbes, chairman and editor-in-chief of Forbes Media. Click here for agenda. In Montreal, through Sept. 21.
- CENTRAL BANKS: RBA minutes, rate decisions in Hungary, Nigeria and Kenya.
- ECONOMY: Australia house price index (second quarter), South Africa leading indicator (July)
- EARNINGS: FedEx Corp., Kingfisher Plc and Adobe Systems Inc. are among companies posting results. For an expanded list of today’s releases, click here.
- ENERGY/COMMODITIES: Global temperature/precipitation data (Aug.)
Wednesday, Sept. 21
- The Bank of Japan releases its monetary policy statement after the board meeting ends, typically between noon and 13:00 in Tokyo (00:00 EDT). Governor Haruhiko Kuroda is scheduled to hold a press conference at 15:30. Follow the TOPLive blog for real-time coverage here.
- The Federal Reserve is projected to keep its benchmark interest rate unchanged at the conclusion of a two-day meeting, according to analysts surveyed by Bloomberg. Policy makers will also issue economic projections. 14:00 in Washington, followed by a news conference by Chair Janet Yellen at 14:30. Follow the TOPLive blog for real-time coverage here.
- Bloomberg Philanthropies Founder Michael Bloomberg and U.S. Secretary of Commerce Penny Pritzker host the second annual U.S.-Africa Business Forum during the 71st United Nations General Assembly in New York City. President Barack Obama will also attend.
- Mylan NV CEO Heather Bresch is scheduled to appear before the U.S. House Committee on Oversight and Government Reform to be questioned about price increases for EpiPens. 10:00 in Washington.
- Christie’s International Plc to auction the private collection of former President Ronald Reagan and his wife, Nancy. Reagan’s ostrich, cowhide and frog skin cowboy boots are among the listed items, with a pre-sale estimate of $10,000 to $20,000, along with an autographed NFL football. In New York City, through Sept. 22. Click here to view the sale catalog.
- ECONOMY: U.S. MBA mortgage applications (weekly); Russia CPI (weekly); Malaysia CPI (Aug.); U.K. public finances and public sector borrowing (Aug.); Ukraine industrial production (Aug.); South Africa CPI (Aug.)
- EARNINGS: General Mills Inc., Inditex SA and Bed Bath & Beyond 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.
Thursday, Sept. 22
- Sales of previously owned U.S. homes are projected to rise in August for the sixth time in the last seven months, underscoring a rebound in residential real estate. The National Association of Realtors in Washington will issue the figures at 10:00.
- European Central Bank President Mario Draghi, in his capacity as chairman of the European Systemic Risk Board, will open the group’s conference and give the keynote address. 15:00 CET (09:00 EDT) in Frankfurt, through Sept. 23. Click here for the schedule.
- Bank of England Governor Mark Carney will speak on the risks of climate change for financial-market stability in the Arthur Burns Memorial Lecture at the Atlantik-Brücke in Berlin. 19:00 CET (13:00 EDT).
- Bank of Italy Governor Ignazio Visco hosts the OMFIF conference in Rome, which will feature discussions on monetary and fiscal policy with a focus on European economic governance and the construction of the capital markets union. Speakers and timing to be determined. Through Sept. 23.
- EU trade ministers begin a two-day informal meeting in Bratislava, Slovakia, to discuss issues including the draft EU-Canada deal and Transatlantic Trade and Investment Partnership.
- Mexico’s new finance minister, Jose Antonio Meade, will speak to the Mexican Senate about President Enrique Pena Nieto’s budget proposals for 2017.
- The PGA of America’s Tour Championship begins at the East Lake Golf Club in Atlanta. The purse is $8.5 million. Through Sept. 25.
- CENTRAL BANKS: Rate decisions in Norway, New Zealand, Philippines, Indonesia, South Africa, Turkey and Egypt.
- ECONOMY: U.S. jobless claims (weekly), Chicago Fed national activity index (Aug.), FHFA home price index (July), consumer comfort index (weekly), leading economic indicators (Aug.) and Kansas City Fed manufacturing gauge (Sept.); Taiwan unemployment and export orders (Aug.); France business confidence and manufacturing confidence (Sept.); euro-area consumer confidence (Sept.); Israel unemployment rate (Aug.)
- EARNINGS: AutoZone Inc. is 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), U.S. Agriculture Department crop net-export sales (weekly)
Friday, Sept. 23
- U.S. Federal Reserve Bank Presidents Patrick Harker, Loretta Mester and Dennis Lockhart will appear on a “Presidents’ Perspectives” panel at the Federal Reserve Bank of Philadelphia conference. 12:00.
- The Moscow Financial Forum 2016 takes place. Click here for the schedule.
- ECONOMY: Markit U.S. manufacturing PMI (Sept. preliminary); Singapore CPI (Aug.); Markit Germany manufacturing and services PMI (Sept.); France GDP (second quarter) and Markit manufacturing and services PMI (Sept.); Markit euro-area manufacturing and services PMI (Sept.); Poland unemployment (Aug.)
- EARNINGS: Cintas Corp. is among the 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)
- SOVEREIGN RATING UPDATES: European Stability Mechanism (Moody’s), Germany (Fitch), Kuwait (Moody’s), Lithuania (Fitch), Republic of Congo (S&P), Slovenia (Fitch), U.K. (Moody’s).
Saturday, Sept. 24
- The Convention on International Trade in Endangered Species of Wild Fauna and Flora takes place in Johannesburg. CITES regulates international trade in over 35,000 species of plants and animals. Through Oct. 5.
(Carnival Plc does not announce earnings on Sept. 22. They announce earnings on Sept. 26.)