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The Week Ahead: Oct 5 – 9 (Third Quarter Earnings Is About To Start)

October 4, 2015

MONDAY, OCT. 5

  • U.S. service industries probably grew at a slower pace in September than a month earlier, a report from the Institute for Supply Management is projected to show. A reading above 50 in the non-manufacturing index indicates expansion in the industries that account for almost 90 percent of the economy.
  • Euro-area finance ministers meet to discuss Greece’s progress on steps needed to receive bailout loans for the first time since the country’s elections.
  • German Chancellor Angela Merkel begins a two-day official visit to India that will include talks with government leaders and a stop in Bangalore.
  • Patriot Coal Corp.’s restructuring plan will be heard in U.S. Bankruptcy Court.
  • Oil and gas drillers including Whiting Petroleum Corp., Southwestern Energy Co. and PDC Energy Inc. are scheduled to present at the Independent Petroleum Association of America’s OGIS San Francisco conference.
  • ECONOMY: Markit U.S. Services PMI (Sept. final)., U.S. labor market conditions index (Sept.), Taiwan foreign reserves (Sept.), Turkey CPI, euro-area services PMI (Sept.), U.K. services PMI (Sept.), Russian services, composite PMI (Sept.).

TUESDAY, OCT. 6

  • The U.S. trade deficit probably widened in August as sales to overseas customers weakened and imports picked up on the heels of resilient domestic demand, figures from the Commerce Department are projected to show.
  • The International Monetary Fund releases its World Economic Outlook, followed by a press conference in Lima, leading up to the Oct. 9-11 annual meetings of the IMF and World Bank. The fund in July cut its forecast for global growth this year to 3.3 percent, from the 3.5 percent pace projected in April.
  • Moody’s Investors Service holds its 17th annual conference to discuss the challenges and opportunities ahead for Brazil. Mauro Leos, the rating company’s senior analyst for Brazil, is scheduled to discuss the outlook for the country’s sovereign grade.
  • The U.S. Energy Information Administration releases its Short-Term Energy Outlook, including its once-yearly winter fuels review.
  • Bloomberg Markets Most Influential Summit 2015. Pershing Square Capital Management founder Bill Ackman, Goldman Sachs Group Inc. Global Markets Institute President Abby Joseph Cohen and Terra Firma Capital Partners Founder Guy Hands are among speakers at the fifth annual conference taking place simultaneously in New York, London and Hong Kong.
  • The U.S. Senate Energy and Natural Resources Committee holds a hearing on the “potential modernization of the Strategic Petroleum Reserve and related energy security issues.”
  • McDonald’s Corp. begins offering all-day breakfast across its U.S. locations as part of Chief Executive Officer Steve Easterbrook’s effort to revive domestic sales.
  • ECONOMY: Canada Ivey purchasing managers index (Sept.), Canada trade balance (Aug.), Taiwan CPI (Sept.), German factory orders (Aug.), Swiss CPI (Sept.), Czech trade balance (Aug.), Hungary budget balance (Sept.), Ukraine CPI, PPI (Sept.)

WEDNESDAY, OCT. 7

  • Volkswagen AG faces a deadline from German regulators to say how it will bring 2.8 million diesel-engine models in its home market up to emissions standards following a U.S. pollution-test cheating scandal that led to the resignation of Chief Executive Officer Martin Winterkorn.
  • The International Monetary Fund releases further research from its Global Financial Stability Report, followed by a press briefing, in Lima, leading up to the Oct. 9-11 annual meetings of the IMF and World Bank.
  • Norway announces its budget bill for 2016. The government of western Europe’s biggest oil producer has said it will increase spending and lower taxes to cope with a downturn in the oil markets.
  • The Congressional Budget Office is scheduled to release a final estimate for the U.S. budget deficit for fiscal year 2015. The nonpartisan government agency in August forecast that the shortfall would narrow to $426 billion in the year that ended Sept. 30.
  • The U.S. Energy Information Administration releases its U.S. oil inventory report.
  • ECONOMY: MBA U.S. mortgage applications (weekly), U.S. consumer credit (Aug.), Brazil IPCA (Sept.), Taiwan import, exports, trade balance (Sept.), Hong Kong foreign reserves (Sept.), China foreign reserves (Sept.), Israel foreign-currency reserves (Sept.), German industrial production (Aug.), U.K. industrial production (Aug.), Romania GDP (second quarter), Czech industrial output (Aug.), Czech retail sales (Aug.), Hungary industrial production (Aug.), Croatia trade balance (July).

THURSDAY, OCT. 8

  • International Monetary Fund Managing Director Christine Lagarde and World Bank President Jim Yong Kim give press briefings at 09:00 (10:00 EDT) and 10:00 (11:00 EDT), respectively, in Lima ahead of their organizations’ Oct. 9-11 annual meetings in the Peruvian capital.
  • Bank of England decision. The Monetary Policy Committee will probably leave its key interest rate at a record-low 0.5 percent.
  • The U.S. Federal Reserve publishes minutes of the Sept. 16-17 meeting of its Federal Open Market Committee, when policy makers left the benchmark federal funds rate at zero to 0.25 percent.
  • U.S. House lawmakers elect the next speaker. House Majority Leader Kevin McCarthy and Representative Daniel Webster are running to replace Speaker John Boehner, who announced on Sept. 25 that he would resign from Congress at the end of October.
  • The U.S. Energy Information Administration releases its natural gas inventory report.
  • ECONOMY: U.S. initial jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly), Canada housing starts (Sept.), Mexico inflation (Sept.), China foreign direct investment (Sept.) any day Oct. 8-Oct. 12, Japan current account (Aug.), Turkey industrial production (Aug.), Egypt CPI (Sept.), U.K. RICS house-price index (Sept.), German trade balance (Aug.), Bank of France business sentiment (Sept.), Hungary CPI (Sept.), Russia current account (third quarter), South Africa manufacturing production (Aug.)
  • EARNINGS: Alcoa Inc., Fast Retailing Co.

FRIDAY, OCT. 9

  • The U.S. Department of Agriculture publishes its monthly World Agricultural Supply and Demand Estimates Report, which includes closely watched numbers for crops such as corn and soybeans.
  • ECONOMY: U.S. import prices (Sept.), U.S. wholesale inventories (Aug.), Canada unemployment rate (Sept.), U.K. trade balance (Aug.), Czech CPI (Sept.), Hungary trade balance (Aug.), Slovakia trade balance, industrial production (Aug.), Estonia trade balance (Aug.).

Source

-Syfur

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