Fed, U.S. GDP, Jobs Data, BP, UBS: Week Ahead July 26-Aug. 2
Washington (July 24) The U.S. Federal Open Market Committee releases its monetary policy statement as a pickup in the world’s biggest economy sharpens debate over timing of the first benchmark interest-rate increase since 2006.
The U.S. economy probably expanded in the second quarter as payrolls increased and the jobless rate held at 6.1 percent in July, separate reports in the coming week may show.
Unemployment and inflation figures will be published across Europe.
Companies releasing earnings include Anheuser-Busch InBev NV (ABI), Berkshire Hathaway Inc., BP Plc, Nissan Motor Co., Pfizer Inc. (PFE), Rolls-Royce Holdings Plc, UBS AG (UBSN) and Volkswagen AG.
Cycling’s Tour de France finishes in Paris.
SATURDAY, JULY 26
-Japanese Prime Minister Shinzo Abe meets business leaders in Mexico before continuing his Latin America tour with visits to Trinidad and Tobago, Colombia, Chile and Brazil in a trip that runs to Aug. 2. Abe is meeting national leaders at each stop, shortly after Chinese President Xi Jinping returned from a visit to the region. The two Asian nations vie for influence on the global stage amid ongoing disputes over territory and the legacy of World War II. Timings to be determined.
SUNDAY, JULY 27
-Major League Baseball. The 75th anniversary celebrations of the baseball Hall of Fame culminate with inductions including pitchers Greg Maddux and Tom Glavine, slugger Frank Thomas and former managers Joe Torre, Tony La Russa and Bobby Cox. 13:30 EDT, Cooperstown, New York.
-Saudi Arabia’s stock exchange and government offices are closed for the week because of the Muslim Eid holiday. Markets in some other countries in the Middle East close for part of the week.
-ECONOMY: China industrial profits (June).
-The Tour de France cycling race finishes on the Champs-Elysees in Paris.
MONDAY, JULY 28
-Madoff aides sentenced. Five employees of Bernard Madoff convicted of helping him run the biggest Ponzi scheme in history will be sentenced today, July 29 and July 30, including Annette Bongiorno, who ran the investment advisory unit; Joann Crupi, manager of large accounts; and Daniel Bonventre, broker-dealer operations chief. The five defendants face sentences ranging from a minimum of eight years to as many as 20 years in prison, Starts 11:00 and 14:00 today, federal court, Manhattan.
-White House awards. President Barack Obama honors recipients of the 2013 National Medal of Arts and National Humanities Medal, including DreamWorks Animation SKG Chief Executive Officer Jeffrey Katzenberg, musician Linda Ronstadt and radio host Diane Rehm. In Washington. Time to be announced.
-The Australian Grains Industry Conference will discuss the global grains and dairy outlook and the future of the country’s agriculture. Speakers include Minister of Agriculture Barnaby Joyce. 09:30 in Melbourne (07/27 19:30 EDT). Through 07/29.
-The U.K. House of Lords debates a motion calling on Prime Minister David Cameron to reconsider his decision to downgrade the role of leader of the chamber to a non-cabinet post. Cameron promoted Tina Stowell to the job earlier in July and she’ll be paid less than her male predecessor, Jonathan Hill. Timing in London to be determined.