What to Watch in the Day Ahead - Tuesday, September 17
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 DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT
The U.S. Federal Reserve will begin its two-day policy meeting that will conclude on Wednesday. The Fed is widely expected to apply an interest-rate cut, its first in four years. The size of the first move and the scale of the overall easing remains open to debate. A looming U.S. election is another complicating factor for global investors and rate-setters looking for a steer from the Fed and pinning hopes on an economic soft landing.
On the U.S. economic front, the Commerce Department's Census Bureau is set to report that retail sales probably dipped 0.2% in August, after jumping 1% in July. Retail sales excluding autos likely rose 0.2% in August, compared to a 0.4% rise in the prior month. Separately, industrial production is expected to have risen 0.2% last month, after falling 0.6% in July. Additionally, capacity utilization in August probably inched up to 77.9% from 77.8% in July. Business inventories for July are expected to rise 0.3%. NAHB/Wells Fargo Housing Market Index, reflecting homebuilder sentiment, is projected to add 1 point in September to land at 40.
Dallas Fed President Lorie Logan is scheduled to give welcome remarks before the Eleventh District Banking Conference hosted by the Federal Reserve Bank of Dallas. (1000/1400)
The Federal Deposit Insurance Corporation is slated to hold a board meeting to finalize its policy statement on bank mergers, as well as propose new rules for how banks should monitor depository accounts facilitated by third parties like fintechs.
U.S. Steel CEO David Burritt is scheduled to speak to the Detroit Economic Club. He will address the benefits of the company's proposed $14.9 billion acquisition by Japan's Nippon Steel and the controversy that has ensued as sources have said U.S. President Biden will seek to block the deal citing national security concerns.
Chevron CEO Michael Wirth is due to give keynote address on the first day of the GasTech conference. Global energy executives are convening in Houston for the four-day annual conference on natural gas production, transport and exports. Global prices this year are hurting producers and exports even as overall demand climbs from utilities and chemical makers. Speakers include CEOs of Cheniere, ConocoPhillips, PetroChina and Woodside Energy and senior executives from Engie, Petrobras and Aramco.
Snapchat owner Snap Inc will host a conference, where it is expected to unveil new augmented reality features for users and developers.
Canadian investors will look forward to key Consumer Price Index figures from Statistics Canada. August inflation is expected to be flat, after rising 0.4% in the month before. Annually, inflation likely eased to 2.1% in August from 2.5% in July. Separately, data from the national housing agency is likely to show housing starts fell to 252,200 units in August, compared to 279,500 units in July.
Shareholders of Mexican retailer Grupo Famsa are scheduled to convene at an assembly to vote on dissolving and liquidating the bankrupt firm.
LIVECHAT - REUTERS GLOBAL MARKETS FORUM
Joseph Wang, former senior trader on the Fed's Open Market Trading Desk, discusses the central bank's commitment to price stability and the effect of rate hikes against the risk of overtightening, ahead of the all-important Fed policy meeting. (1000/1400) To join the conversation, email us here
Compiled by Ananya Roy in Bengaluru; Editing by Shreya Biswas
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
