What to Watch in the Day Ahead - Thursday, Oct 8
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) The minutes of the Federal Open Market Committee meeting held on Sept. 16-17 will give an indication of how close the call was not to raise interest rates and how worried policymakers were about a slowdown in the global economy. (1400/1800) Speaking on the day will be Federal Reserve Bank of St. Louis President James Bullard, who'll give welcome remarks before the Children's Saving Account Symposium hosted by the Federal Reserve Bank of St. Louis. (0930/1330) Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will also give welcome remarks and participate in the forum before the Greater Mankato Growth Event, in Mankato, Minnesota. (1300/1700) Meanwhile, Federal Reserve Bank of San Francisco President John Williams will speak on the economic outlook before the Spokane Metropolitan Area Business and Community Leaders Luncheon, in Spokane, Washington. (1530/1930) Alcoa Inc, the metals company, will report third-quarter earnings amid an environment of low aluminum prices thanks to a supply glut out of China. What analysts will be most interested in are more details of the breakup of the company Alcoa announced on Sept. 28. The proposed separation of the company's legacy smelting business from its value-added sales to the automotive and aerospace industries has left analysts with questions, including how debt and pension liabilities will be divided up between the two companies. The number of Americans filing new applications for jobless benefits likely edged lower to 274,000 for the week ended Oct. 3, a sign the labor market remains fundamentally healthy despite a disappointing reading on jobs growth last month. (0830/1230) Domino's Pizza Inc is expected to report third-quarter sales above analysts' average estimate, according to StarMine. The company has been outperforming rivals such as Yum Brands' Pizza Hut and McDonald's in the United States due to digital investments to improve online and mobile ordering. Domino's last week estimated a 6 cent decrease in the quarter's earnings per share due to a rise in the frequency and severity of insurance claims and investors will be looking out for details on it. The House Energy and commerce committee has scheduled a hearing on Volkswagen and its admission that it rigged 482,000 diesel cars sold in the United States to deceive emissions tests, and pollute up to 40 times more than allowed limits when on the road. Volkswagen's U.S. chief, Michael Horn, and others are scheduled to testify before the panel. (1000/1400) The annualized rate of Canadian housing starts is expected to have fallen to 200,000 in September from 216,924 units in August. (0815/1215) Meanwhile, the new housing price index probably rose by 0.2 percent in August. (0830/1230) After having cooled to a record low in August, Mexico's annual inflation rate is expected to have eased further last month. In the 12 months through September, it probably rose 2.57 percent, below the 2.59 percent rate seen in August. (0900/1300) Inflation in Chile is expected to have risen 0.7 percent in September, same as August when it posted its biggest monthly jump in nearly a year. The IMAX Corp's China unit debuts on the Hong Kong stock exchange. The listing will be the first by a major global brand in Hong Kong since 2011. However, a recent filing showed that the $248 million IPO from IMAX China Holding Inc, majority owned by the namesake giant screen movie theater equipment maker, saw particularly weak demand from retail investors, hurt by a steep slide in Chinese stock markets earlier in the year as well as increased volatility in other global equity markets. On the eve of the annual meetings of the World Bank Group and the International Monetary Fund, IMF Managing Director Christine Lagarde, Bank of England Governor Mark Carney and Brazilian Finance Minister Joaquim Levy will participate in a discussion on the global economy in Lima, Peru. The Republicans in the U.S. House of Representatives will hold leadership elections, moving speedily to get a new team in place to deal with a series of fiscal challenges ahead. LIVECHAT - Economist View: Alastair Winter, chief economist, Daniel Stewart & Co Alastair Winter, chief economist at Daniel Stewart & Co, joins us at 0500 ET/0900 GMT for a look at the main economic themes likely to dominate markets as we head towards the end of the year. To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled By Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)
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