What to Watch in the Week Ahead and on Monday, November 28

November 26, 2022 04:43 AM AEDT | By Reuters
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(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) ON MONDAY Federal Reserve Bank of New York President John Williams is set to participate in a virtual conversation organized by the Economic Club of New York. (1200/1700) The Trump Organization's criminal tax fraud trial in Manhattan is expected to resume, with the defense likely to rest its case. Pinduoduo Inc will report a rise in revenue in the third quarter driven by a surge in online shopping amid intermittent lockdowns in China. Comments on costs and consumer demand in China will be in focus. LIVECHAT - REUTERS GLOBAL MARKETS FORUM Mike Dolan, Reuters Editor-at-Large for Financial Industry & Financial Markets, discusses themes in play for the upcoming week. To join the conversation, click here REST OF THE WEEK On the U.S. economic front, the Labor Department on Friday, is scheduled to report non-farm payrolls increased 200,000 in November. It rose 261,000 in the previous month. Additionally, unemployment rate is likely to remain unchanged at 3.7% in November. On Wednesday, the Commerce Department's advance third-quarter gross domestic product report is set to show the economy grew at a 2.7% annualized rate after rising 2.6% in the previous estimate. Also on Wednesday, the ADP National Employment report is set to show that private employment increased by 200,000 jobs in November, compared to 239,000 jobs added in the previous month. Separately, the Labor Department is scheduled to say in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, that job openings for October came at 10.3 million, compared to 10.71 million in September. The Labor Department, on Thursday, is set to report initial claims for state unemployment benefits is expected to be at 235,000 for the week ended Nov. 26. Continued jobless claims likely rose to 1.573 million for the week ended Nov. 19 from 1.551 million in the previous week. Core PCE price index is also scheduled on Wednesday. Federal Reserve Chair Jerome Powell is scheduled to speak on Wednesday on the economic outlook, inflation and the labor market at a Brookings Institution event, in Washington. (1330/1830) Separately, Federal Reserve Board Governor Michelle Bowman is set to participate in "The Future of Small Banks" discussion before "The Future of Minority Depository Institutions: MDI ConnectTech" event, in Washington the same day. (0850/1350) Meanwhile, Federal Reserve Board Governor Lisa Cook will speak on "The Outlook for Monetary Policy and Observations on the Evolving Economy" at an event of the Detroit Economic Club on Wednesday. (1235/1735) On Thursday, Federal Reserve Vice Chair for Supervision Michael Barr will speak virtually on "Bank Capital" before the American Enterprise Institute. (1500/2000) Meanwhile, Federal Reserve Bank of Dallas President Lorie Logan is set to participate in moderated question-and-answer session hosted by the Dallas Breakfast Group. (0925/1425) Separately, Bowman is scheduled to participate in a virtual discussion before the KBW CEO Strategy Forum. (0930/1430) On Friday, Federal Reserve Bank of Chicago President Charles Evans is scheduled to give welcome remarks before hybrid 36th Annual Economic Outlook Symposium hosted by the Federal Reserve Bank of Chicago. (1400/1900) Evans is also speaking at an event, Kaufman Center for Financial and Policy Studies: "The Role & Effectiveness of Financial Regulation," in Chicago. (1015/1515) On Tuesday, the 2nd U.S. Circuit Court of Appeals in Manhattan will hear Amazon.com labor organizer and former employee Christian Smalls' appeal from a dismissal of his lawsuit accusing the retailer of firing him because he is Black and because he opposed its alleged racially discriminatory policies to protect employees against COVID-19. On Wednesday, Chevron CEO Michael Wirth is scheduled to discuss state of energy markets and transition to cleaner fuels in remarks in Boston days ahead of OPEC's decision on its future oil production and as U.S. weighs its request for a license to expand its operations in Venezuela. On Thursday, Dollar General Corp is expected to post a rise in third-quarter revenue helped by strong demand from budget-conscious consumers looking for cheaper groceries and household essentials amid decades-high inflation. Investors will look out for the company's forecast and its comments on impact from inflation, consumer shopping trends and expectations for the holiday season. A series of REUTERS NEXT events are scheduled next week. Nasdaq Inc President Adena Friedman will speak on the bourse's restructure and recent crypto ructions. BHP Group Ltd CEO Mike Henry will be interviewed on the transformation of the energy industry. Canada Prime Minister Justin Trudeau will take stock of the global economy and geopolitics in preparation for 2023. NYSE President Lynn Martin will navigate the world's biggest stock exchange through choppy waters. Morgan Stanley CEO James Gorman will speak on inflation, the markets and new technologies shaping finance. Nicola Mendelsohn, vice president, Global Business, Meta Platforms Inc will be interviewed on unlocking the potential of immersive learning through the metaverse. A panel discussion with, Mayo Clinic, Moderna executives on the post-pandemic healthcare industry is also scheduled where Dr Anton Decker, president, Mayo Clinic International and Paul Burton, chief medical officer, Moderna Inc, are taking part. On Thursday, an interview with IMF Managing Director Kristalina Georgieva is scheduled to discuss inflation, geopolitical fissures. Enel Spa CEO Francesco Starace will speak on the challenges of the global energy crisis. London Stock Exchange Group Plc CEO David Schwimmer will speak on strengthening the global financial system. U.S. Treasury Deputy Secretary Wally Adeyemo is set to talk about global financial risks, Russia sanctions. World Bank President David Malpass will speak on the consequences of global debt, surging inflation and spiking energy prices. A panel discussion will also take place with Procter & Gamble Co, Mars Inc, Interos Inc and Interglobe Aviation Ltd executives. Barclays Plc Europe CEO Francesco Ceccato, Bank of America Corp EU CEO Fernando Viario, Wells Fargo Bank International CEO Fiona Gallagher and Citibank Inc Europe interim CEO Silvia Carpitella are scheduled to speak at conference in Dublin. Canada's second-biggest oil producer, Suncor Energy Inc, meets with investors on Tuesday, under pressure to show improvement in safety and operational performance. Analysts will also be keen to hear about the search for a new CEO, deliberations on whether to sell fuel stations and other M&A priorities. TC Energy Corp is set to hold its annual meeting with investors and analysts on Tuesday. The company recently set a target to sell C$5 billion worth of assets by the end of 2023. Mexico's central bank will publish its quarterly report, which will give updated inflation and economic growth forecasts on Tuesday. On Wednesday, the central bank will issue its monthly poll of private sector economists' forecasts on key indicators like inflation, GDP and the peso exchange rate. (Compiled by Ananya Roy in Bengaluru; Edited by Shilpi Majumdar)


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