U.S. Jobs, OPEC Meets, ECB’s Draghi: Week Ahead Nov. 28 - Dec. 3

(Bloomberg) -- Payroll growth in the U.S. probably picked up in November as employers took on about 175,000 workers, consistent with a tight job market, economists project the Labor Department will report in the coming week.

U.S. consumer spending probably climbed in October along with incomes, while manufacturing is seen expanding at a modest pace, other data are forecast to show.

President-elect Donald Trump holds meetings in New York as he continues to deliberate choices for his Cabinet and top White House staff.

European Central Bank President Mario Draghi appears before the European Parliament to answer questions on the euro-area economy and the consequences of Brexit.

The Organization of Petroleum Exporting Countries meets in Vienna to discuss finalizing production cuts.

Jamie Dimon speaks at the JPMorgan Chase & Co.-hosted Robin Hood Investors Conference, while Bank of America Corp. Chief Executive Officer Brian Moynihan participates in the Clearing House Annual Conference.

Canada’s largest lenders, including Bank of Nova Scotia, Royal Bank of Canada and Toronto-Dominion Bank, begin posting results.

The U.S. Supreme Court issues the first opinions of its term.

Monday, Nov. 28

• Federal Reserve Bank of New York President William Dudley visits Puerto Rico, where he’ll meet with Governor-elect Ricardo Rossello, business and economic-development leaders. Through Nov. 29.
• ECB President Mario Draghi appears before the European Parliament to answer questions from lawmakers on the outlook for the euro-area economy and the consequences of Brexit for financial stability. 15:00 in Brussels (09:00 EST).
• Former Bank of England Governor Mervyn King, Bank of America Corp. Chief Executive Officer Brian Moynihan and U.S. Comptroller of the Currency Thomas Curry are among scheduled speakers at the Clearing House Annual Conference. In New York through Nov. 30. Click here for the program.
• Cyber Monday marks the biggest U.S. online-commerce shopping day of the year as consumers use mobile devices to make purchases after the Thanksgiving holiday. Sales today are likely to rise 9.4 percent to a record $3.36 billion compared with last year, according to Adobe Systems Inc.
• Bank of Canada Governor Stephen Poloz delivers the C.D. Howe Institute’s Benefactors Lecture in Toronto. Remarks will be published on the bank’s website at 19:45 EST; a press conference follows at 21:00.
• The Organisation for Economic Co-operation and Development publishes its semi-annual global economic outlook. 11:00 in Paris (05:00 EST).
• European Central Bank Executive Board member Benoit Coeure speaks in Athens. 15:10 local time (08:10 EST).
• The U.K. Independence Party announces the result of its leadership election. Deputy leader Paul Nuttall is the clear favorite. Timing to be determined.
• German Chancellor Angela Merkel addresses a town-hall meeting of her Christian Democratic Union, one of four across Germany to rally support ahead of a party convention to formally kick off her bid for a fourth term. 18:00 in Heidelberg, southwest Germany (12:00 EST).
• Bridgewater Associates founder Ray Dalio, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and General Electric Co. CEO Jeffrey Immelt are among featured speakers at the Robin Hood Investors Conference. Since its inception in 2013, the event has raised more than $15 million to fight poverty. In Brooklyn, New York, through Nov. 29.
• Brazilian Finance Minister Henrique Meirelles and Petrobras CEO Pedro Parente speak at the sugar cane industry’s Unica Forum in Sao Paulo. Click here for the agenda.
• The 2nd International LNG Congress is held in Hamburg through Nov. 29.
• The International Gas Summit is held in Nice, France, with speakers including Abdullah Al-Ghamdi, executive director of gas operations for Saudi Aramco, and Keisuke Sadamori, director for energy markets at the International Energy Agency. Through Nov. 29.
• White House Chief of Staff Denis McDonough, U.S. Secretary of Commerce Penny Pritzker and former Vice President Al Gore are among the scheduled speakers at the New York Times’s inaugural Global Leaders’ Collective. In Washington through Nov. 29.
• The Federal Reserve Board of Governors hosts the conference, “Addressing the Risks of Pursuing Post-Secondary Education.” Noon in Washington. Through Nov. 29.
• U.S. government bond auctions, Fed debt purchases. Click here for the schedule.
• U.S. initial public offerings. Click here for the schedule.
• UN Secretary-General-Designate António Guterres meets China Foreign Minister Wang Yi in Beijing. 12:45 local time (Nov. 27 at 23:45 EST).
• CENTRAL BANKS: Kenya rate decision, Israel rate decision.
• EARNINGS: Aberdeen Asset Management Plc and Grupo Aval Acciones y Valores SA are among companies reporting earnings. For a list of today’s releases, click here.
• ECONOMY: Dallas Fed manufacturing (Nov.), Canada Bloomberg Nanos confidence (weekly), Brazil primary budget balance (Oct.), Mexico unemployment rate (Oct.), Turkey economic confidence (Nov.), Italy consumer and manufacturing confidence (Nov.).

Tuesday, Nov. 29

• The U.S. Supreme Court convenes and will issue opinions. It will also hear arguments in a Texas death-penalty case over the standard for determining whether an individual is ineligible for execution due to intellectual disability. 10:00 in Washington.
• Federal Reserve Bank of New York President William Dudley delivers remarks on opportunities for economic growth in Puerto Rico on the final day of his visit to the commonwealth. Text and audience Q&A are expected. 09:15 in San Juan (08:15 EST).
• Eurogroup head Jeroen Dijsselbloem speaks to the European Parliament’s Economy Committee about recent economic and financial developments in the euro area and about the outcome of the U.S. presidential election. 09:45 in Brussels (03:45 EST).
• German Chancellor Angela Merkel delivers remarks at a Siemens AG event marking the 200th anniversary of the company founder’s birth. Timing in Berlin to be determined.
• Vale SA, the world’s biggest iron-ore miner, hosts a meeting with investors at the New York Stock Exchange and is expected deliver its outlook for 2017. 10:00 in New York.
• Williams Cos. CEO Alan Armstrong speaks at the Jefferies Energy Conference. A link to the live webcast of his presentation will be available on the company’s website. 11:00 in Houston (12:00 EST).
• Brazil’s Senate is scheduled to hold a first-round vote on a constitutional amendment that would cap government spending in inflation-adjusted terms for as long as 20 years. The bill, which sailed through the lower house, is one of the cornerstones of President Michel Temer’s effort to shore up confidence in Latin America’s largest economy. The Senate needs to approve the bill with a three-fifths majority in two rounds for Temer to sign it into law. Timing to be determined in Brasilia.
• Peruvian President Pedro Pablo Kuczynski visits his Chilean counterpart Michelle Bachelet in Santiago, where they may discuss a project to connect power lines between the nations.
• Texas Instruments Inc. CEO Richard Templeton and Alibaba Group Holding Ltd. Co-Founder Joseph Tsai are among the scheduled speakers at the Credit Suisse Technology, Media & Telecom Conference. In Scottsdale, Arizona, through Dec. 1.
• Fu Chengyu, the former chairman of Sinopec, will discuss China’s energy future, global oil markets and climate change at Columbia Law School in New York. 18:00.
• CENTRAL BANKS: South Korea central bank releases BSI business confidence survey (Dec.).
• EARNINGS: Bank of Nova Scotia, Lukoil PJSC and Tiffany & Co. are among companies reporting earnings. For an expanded list of today’s releases, click here.
• ECONOMY: U.S. gross domestic product (third quarter), U.S. personal consumption (third quarter), U.S. S&P CoreLogic Case-Shiller 20-city home-price index (Sept.) and U.S. consumer confidence (Nov.), Canada current account (third quarter), Brazil unemployment rate (Oct.) and IGP-M inflation (Nov.), Japan jobless, household spending and retail sales (Oct.), South Africa M3 money supply, private-sector credit (Oct.), business confidence index (fourth quarter), Turkey foreign tourist arrivals (Oct.), Romania unemployment (Oct.), Hungary unemployment (Oct.), euro-area economic confidence (Nov.), German CPI (Nov.), French GDP (third quarter), U.K. mortgage approvals (Oct.).
• ENERGY/COMMODITIES: American Petroleum Institute releases its weekly crude inventory report at 16:30 EST.

Wednesday, Nov. 30

• The U.S. Supreme Court hears arguments in a case centering on the right to bond hearings for those being detained in anticipation of deportation. 10:00 in Washington.
• The Bank of England publishes the results of its annual bank stress tests alongside its Financial Stability Report at 07:00 in London (02:00 EST). Governor Mark Carney will then hold a press conference to discuss the reports.
• ECB President Mario Draghi speaks in Madrid. 13:30 local time (07:30 EST).
• Federal Reserve Bank of Dallas President Robert Kaplan addresses the Economic Club of New York. 08:00 in Manhattan.
• OPEC holds a ministerial meeting in Vienna to discuss finalizing the 14-nation group’s September accord to reduce oil production. Timing to be determined.
• Personal spending in the U.S. probably accelerated in October from a month earlier on the heels of faster income growth, economists project the Commerce Department to report. 08:30 in Washington.
• Canada reports gross domestic product for the third quarter, with economists predicting a rebound after oil fires shrank output in the prior three-month period. 08:30 in Ottawa.
• Brazil’s third-quarter GDP data is expected to show the economy shrank for a ninth consecutive quarter. 09:00 in Brasilia (06:00 EST).
• Petroleo Brasileiro SA holds an extraordinary shareholder meeting to elect new board members and vote on the sale of a propane distribution unit. 15:00 in Rio de Janeiro (12:00 EST).
• Brazil rate decision. Policy makers will probably cut the Selic rate by a quarter point to 13.75 percent as economists now see inflation slowing to within the bank’s target range in 2017. Any time after 18:00 in Brasilia (15:00 EST).
• Federal Reserve Bank of Cleveland President Loretta Mester addresses the African American Chamber of Commerce of Western Pennsylvania. 12:35 in Pittsburgh.
• JPMorgan Chase & Co. CEO Jamie Dimon is scheduled to speak at his bank’s Fintech & Specialty Finance Forum in New York. 15:00.
• John Martin, CEO of Time Warner Inc.’s Turner, and Politico Co-Founder Jim VandeHei speak at “An Evening With Code Media” in New York. Program begins at 18:00.
• German Chancellor Angela Merkel addresses a CDU town-hall meeting as she continues her tour at 18:00 in Muenster, western Germany (12:00 EST).
• CENTRAL BANKS: Dominican Republic overnight rate, Guatemala leading interest rate. New Zealand Reserve Bank financial stability report.
• EARNINGS: Royal Bank of Canada and Synopsys Inc. are among companies announcing earnings. For an expanded list of today’s releases, click here.
• ECONOMY: U.S. MBA mortgage applications (weekly), U.S. ADP private employment (Nov.), Chicago PMI (Nov.), U.S. pending home sales (Oct.), Federal Reserve Beige Book, Chile unemployment (Oct.), Colombia unemployment (Oct.), Hong Kong money supply (Nov.), S. Korea industrial production (Oct.), Japan industrial production (Oct.), South Africa trade balance (Oct.), Kenya CPI (Nov.), Turkey trade balance (Oct.), Poland GDP (third quarter), Poland CPI (Nov.), Slovenia GDP (third quarter), Latvia GDP (third quarter), Croatia GDP (third quarter), Lithuania GDP (third quarter), Serbia GDP (third quarter), euro-area CPI (Nov.), German unemployment (Nov.).
• ENERGY/COMMODITIES: U.S. EIA weekly crude oil inventory report (10:30 EST) with real-time coverage on the TOPLive blog.

Thursday, Dec. 1

• Automakers report U.S. vehicle sales for November, revealing whether Black Friday and early year-end come-ons can drive sales to the brink of another record year. With two more selling days, volumes will be up, but the annualized rate of sales may be down from last year’s pace. Ford Motor Co.’s report at 09:15 EST may be first, followed by General Motors Co. at 09:30.
• Federal Reserve Bank of Cleveland President Loretta Mester gives opening remarks at the Financial Stability Conference. 08:30 in Washington.
• Federal Reserve Bank of Dallas President Robert Kaplan speaks at the Forum on Entrepreneurship Breakfast Series at St. Mary’s University in San Antonio, Texas. 08:00 (09:00 EST).
• U.S. factory activity probably expanded in November at about the same pace as a month earlier, indicating growth in manufacturing is continuing at a modest pace. The Institute for Supply Management issues its index at 10:00 in Washington.
• Former U.K. Conservative lawmaker Zac Goldsmith runs in a House of Commons special election in Richmond Park, southwest London, called after he quit his seat in protest at the government’s decision to expand nearby Heathrow Airport. The pro-EU Liberal Democrats provide the main opposition, campaigning against Goldsmith’s pro-Brexit stance in a district that overwhelmingly voted to stay in the bloc. Polls close at 22:00 (17:00 EST), with the result due in the early hours of Dec. 2.
• Russian President Vladimir Putin gives his annual address to the Federal Assembly. Timing to be determined.
• America Movil Chairman Emeritus Carlos Slim sits down with Michael Bloomberg, the founder and majority owner of Bloomberg LP and United Nations Special Envoy for Cities and Climate Change, at the “Mexico: The Year Ahead 2017” summit. The Bloomberg-sponsored forum will also host Mexican Finance Minister Jose Antonio Meade and Pemex CEO Jose Antonio Gonzalez Anaya. Beginning at 09:00 (10:00 EST) in Mexico City. Click here for agenda.
• Gambia holds presidential elections. President Yahya Jammeh, who’s ruled since a 1994 coup, will seek a fifth term in office. Timings to be determined.
• CENTRAL BANKS: Mexico meeting minutes.
• EARNINGS: Toronto-Dominion Bank, Dollar General Corp. and Kroger Co. are among companies announcing earnings. For an expanded list of today’s releases, click here.
• ECONOMY: Challenger U.S. job-cut announcements (Nov.), U.S. jobless claims (weekly), Bloomberg Consumer Comfort Index (weekly), U.S. Markit manufacturing PMI (Nov., final), U.S. construction spending (Oct.), RBC Canadian manufacturing PMI (Nov.), Brazil trade balance (Nov.), Australia Corelogic House Prices (Nov.), Indonesia CPI (Nov.), Thailand CPI (Nov.), China official manufacturing, non-manufacturing PMI (Nov.), China Caixin manufacturing PMI (Nov.), Hong Kong retail sales (Nov.); Taiwan PMI (Nov.), S. Korea CPI (Nov.), trade (Nov.), Japan capex (third quarter), South Africa manufacturing PMI (Nov.), Turkey manufacturing PMI (Nov.), Russia PMI (Nov.), Hungary PMI (Nov.), Poland PMI (Nov.), Czech PMI (Nov.), euro-area manufacturing PMI (Nov.), euro-area unemployment (Oct.), U.K. manufacturing PMI (Nov.).
• ENERGY/COMMODITIES: U.S. EIA weekly natural-gas inventory report (10:30); two-day China annual coal trading summit, Qinhuangdao.

Friday, Dec. 2

• The U.S. economy probably added about 175,000 jobs in November, indicating a slight pickup in hiring from a month earlier, economists project a Labor Department report will show. The unemployment rate is forecast to hold at 4.9 percent, and worker pay probably increased at a slower pace. 08:30 in Washington, with real-time coverage on the TOPLive blog.
• Canada issues its monthly labor-market report, including the unemployment rate. 08:30 in Ottawa.
• Federal Reserve Board Governor Daniel Tarullo delivers the keynote speech at the Financial Stability Conference. 12:30 in Washington.
• Bank of Russia Governor Elvira Nabiullina addresses the country’s parliament on monetary policy over the next few years. Timing to be confirmed.
• CENTRAL BANKS: Chile central bank meeting minutes.
• ECONOMY: Canada unemployment rate (Nov.), Brazil industrial output (Oct.), S. Korea revised GDP (third quarter), Japan monetary base (Nov.), Czech GDP (third quarter), Switzerland GDP (third quarter).
• EARNINGS: National Bank of Canada is among companies announcing earnings. For an expanded list of today’s releases, click here.
• ENERGY/COMMODITIES: Baker Hughes U.S. rig count (weekly).
• SOVEREIGN RATING UPDATES: Albania (Moody’s), Angola (Moody’s), Bulgaria (Fitch, S&P), Cyprus (DBRS), Ethiopia (Moody’s), Ireland (S&P), Kenya (Moody’s), Kuwait (Moody’s), Namibia (Moody’s), Qatar (Moody’s), Romania (Moody’s), South Africa (S&P), Sweden (Moody’s, DBRS).

Saturday, Dec. 3

• No scheduled events

To contact the reporters on this story: Nancy Moran in New York at nmoran@bloomberg.net, James Amott in London at jamott@bloomberg.net, Stanley James in Hong Kong at sjames8@bloomberg.net.

To contact the editors responsible for this story: Guy Collins at guycollins@bloomberg.net, Steve Geimann, Sophie Caronello