What to Watch in the Day Ahead - Friday, Aug. 28
(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) U.S. consumer spending, which accounts for more than two-thirds of economic activity, is likely to have increased by 0.4 percent in July from its previous month's reading of 0.2 percent. In a separate report, the Commerce Department will release the personal income data for July, which is expected to have risen 0.4 percent for a fourth straight month. The department will also release the July figures for personal consumption expenditures price index. (0830/1230) Meanwhile, the University of Michigan's final August reading of consumer sentiment index is expected to come in at 93.0, higher than its preliminary reading of 92.9 earlier in the month. (1000/1400) Wal-Mart Stores Inc will kick off its holiday layaway program two weeks earlier than last year, as the world's largest retailer hopes to get a jump on year-end demand and fuel sales of soon-to-be-launched Star Wars toys. The program allows shoppers to pay for holiday gifts and other products in installments. Bank of Nova Scotia is expected to report a rise in third-quarter earnings. Canada's most international bank has been expanding in its key markets of Mexico, Peru, Colombia and Chile. Investors will be looking to see if the oil price selloff has started to take a toll on the bank. Mylan NV's shareholders hold a meeting in the Netherlands to vote on whether the company should begin a tender offer for Perrigo Co Plc's shares. Proxy advisory firm ISS has told shareholders to vote against it, while Mylan's two largest shareholders representing about 20 percent of shares plan to vote for it. Statistics Canada will release producer prices data, which is expected to remain unchanged for July after a rise of 0.5 percent in June. Also, the raw materials prices for July are expected to have dropped by 4.0 percent. (0830/1230) Brazil's economy likely contracted sharply in the second quarter, marking the start to what many expect will be the longest and deepest recession to hit Latin America's biggest economy in 25 years. Gross domestic product is expected to have fallen a seasonally adjusted 1.7 percent in the second quarter from the first three months of 2015. Separately, the country's central bank releases its monthly report on the federal budget, which is expected to post a deficit of 7.2 billion reais for July, compared with a deficit of 9.323 billion reais for June. In a separate report, Chile's central bank will publish the minutes of August's interest rate meeting, when it held the rate as expected. LIVECHAT - THE WEEKAHEAD - with Reuters Acting EMEA Politics and Economics Editor Jeremy Gaunt Join Jeremy Gaunt as he goes through the key macroeconomic and political themes for the coming week at 0600 ET/1000 GMT. 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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