wall street in advance

December 2017  Economic Statistics
and Other Economic Influences

TUESDAYS:
                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
(4:30p.m.)
    WEDNESDAYS:
                
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
    THURSDAYS:
                 Weekly Unemployment Report*
                  Weekly Mutual Fund Flows*
                   Natural Gas Storage Levels* (a.m.)

 *Except Holidays    ** As of 1/09         All Dates Subject to Change:
Sunday,     Dec. 03     OVERNIGHT into US Mon. a.m. et:
         Japan Nov Monetary Base End of Period, Oct Loans & Discounts
         Aussie TD Securities Nov Inflation, ANZ Nov Job Ads, Q3 Company Operating Profit & Inventories
         BoJ's Kuroda & ECB Bd Member deGalhou speak at a seminar (Tokyo)
         Spain Unemployment Rate/Change
         Eurogroup Meets (Brussels)
         Riksbank Executive Board Meets
         UK Markit/CIPS Nov Construction PMI
         Eurozone Sentix Dec. Investor Confidence, Oct PPI
         Singapore Nov Manufacturing PMI
         Brazil Nov Trade Balance
Monday,    Dec. 04 US Oct Factory Orders
US Oct (F) Durable Goods Orders/Shipments
US Treasury Auctions $42B 3-,
& $36B 6-month Bills
TD Ameritrade IMX (12:30pm et)
    OVERNIGHT into US Tues. a.m. et:
         New Zealand Q3 Voume of All Buildings
         Aussie CBA Nov. Services  & Composite PMI + AiG Nov. Performance of Service Index & Oct Retail Sales Q3 Company Profits/Gross Operating Profits
         UK BRC Nov Like for Like Sales
         South Korea Oct Current Account
         Hong Kong Nov Manufacturing PMI
         Japan Nikkei Nov Services & Composite PMI
         China Caixin Nov Services & Composite PMI
         RBA (Aussie) MPC Rate Decision & Cash Rate Target (12/05 local time)
         Japan 10-year JGB Auction & BoJ Core CPI
         India Nikkei Nov Services PMI
         Russia Markit Nov Services PMI
         Spanish Oct Industrial Production & Nov Services PMI
         Markit Nov Eurozone, France, Germany, Italy, Services & Composite PMI
         So. Africa Q3 GDP
         UK Nov New Car Registrations, Markit/CIPS Nov Services & Composite PMI + UK Nov Official FX Reserves/Changes
         Eurozone Oct Retail Sales, Q3 Gov't Expenditure, Household Consumption, Q3 (F) GDP
         Bundesbank Pres Weidmann & Singapore Dpty PM Shanmugaratnam speak (Frankfurt)
         Riksbank Gov Ingves opens think-tank Global Utmanings Seminar on indebtedness & the risks of a new banking crisis in Sweden
         Brazil Oct Indsutrial Production, Markit Nov Composite & Services PMI
         Canada Oct Int'l Merchandise Trade Balance
         BoE releases Record of Financial Policy Committee 11/22 Meeting
Tuesday,   Dec. 05 US Oct. Int'l Trade Deficit
US PMI Nov (F) Services Index
US ISM non-Manufacturing Nov (F) Index

US Treasury Auctions 4-week & $20B 52-week Bills (that's it for the week!)
   OVERNIGHT into US Wed. a.m. et:
        Aussie Q3 GDP
        BoJ's Masai speaks
        German Oct Factory Orders, Markit Nov Construction & Retail PMI
        Swiss Nov CPI
        India Central Bank MPC Interest Rate Decision, Reverse REPO Rate
        Eurozone, France, Italy, Nov Markit Retail PMI
        Riksbank Dpty Gov Jansson speech "The Ideaological debate on monetary policy--lessons from developments in Sweden" (Stockholm, 12/06 local time)
        EU Commission Pres Juncker to present his ideas for transforming the bailout fund ESM into a European Monetary Fund, and creating the post of a European Finance Minister (Brussels)
        ECB's Mersch speaks (Frankfurt Germany)
Wed.         Dec. 06 MBA weekly Mortgage/Refinance Applications
ADP
Nov Private Sector Employment Report
US 17Q3 (rev)  Productivity & Costs
Brazil Nov Auto Production/Sales & FX Flows
BoC (Canada) MPC Rate Decision
EIA weekly Petroleum/Gasoline/Distillate Stats
(10:30am et)
    OVERNIGHT into US Thurs. a.m. et:
         Brazil MPC Interest Rate Decision

         New Zealand QV Nov House Prices
         Aussie AiG Nov Performance of Construction
         China Nov FX Reserves
         UK Dec. CBI Selling Prices Trends & Total Order Trends
         Aussie Oct Trade Balance, Nov FX Reserves
         BoJ's Masai speaks to business leaders (Kobe)
         So. Africa Nov FX Reserves 
         Swiss Nov Unemployment Rate + Nov FX Reserves
         ECB Governing Council meets--no interest rate decision scheduled (Frankfurt)
         French Oct Trade Balance & Current Account
         German Oct Industrial Production
         Hong Kong Nov FX Reserves
         ECB Pres Draghi news conference on Basel banking reforms (Frankfurt)
         UK Halifax Nov House Prices
Thursday, Dec. 07 Challenger Job-Cut Report
US Weekly Jobless Claims
Canada Oct Building Permits, & Ivey Nov PMI 
US Quarterly Services Survey
Canada Q3 Labor Productivity Q3 Capacity Utilization, Ivey Nov PMI
EIA weekly Natural Gas Report
US Treasury Refunding Announcement (includes 3-, 10, + 30-year)
US Oct Consumer Credit (Debt, really)
Weekly Fed Balance Sheet & US Money Supply (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
         New Zealand Q3 Manufacturing Activity/Volume
         Japan Q3 GDP, Business Spending, Nov Bank Lending w/ & w/out Trusts, Oct Labor Cash Earnings
         China Nov Trade Balance (Imports/Exports), Nov Foreign Direct Investment
         Aussie Oct Home Loans, Investment Lending, Value of Loans
         So Africa Oct Gold & Mining Production
         German Oct Trade Balance & Current Account
         French Gov't Oct Budget Balance & Industrial Production
         Eurozone Q3 Labor Costs & Q3 GDP
         Russia Central Bank Reserves
         Riksbank Gov Ingves on changes on the payments market @Riksbank in the cashless society" organized by Swedish House of Finance (Stockholm)
         UK Oct Trade Balance, Industrial & Manufacturing Production + Construction
Output
         Brazil Nov CPI
         UK NIESR Nov GDP, BoE/TNS Inflation next 12 Months
Friday,      Dec. 08 US Nov. Unemployment Rate/Change/Participation
Canada Nov Housing Starts, Q3 Capacity Utilization
U.M. Prelim. Dec. Consumer Sentiment
US Oct. (F) Wholesale Trade (Sales + Inventories)
Baker-Hughes weekly US/North American Rig Count (1pm et)
Saturday,  Dec. 09 China Nov CPI & PPI
Sunday,     Dec. 10     OVERNIGHT into US Mon. a.m. et:
          China Nov New Yuan Loans & Aggregate Financing + Money Supply
          New Zealand Nov Card Spending
          Aussie HIA Oct New Home Sales
          German Manpower 18Q1 Employment Outlook
          Japan Nov (P) Machine Tool Orders
          So Africa Q3 Current Account & as %/GDP
          Italy Oct Retail Sales
          ECB's Nowotny presents Austria Financial Stability Report
Monday,   Dec. 11 US Oct. JOLTS
US Treasury Auctions $39B 6-month Bills + $24B 3-year Notes (11:30am et)
US Treasury Auctions $45B 3-month & $20B reopened 10-year Notes (1pm et)
    OVERNIGHT into US Tues. a.m. et:
         Aussie + New Zealand 18Q1 Manpower Surveys
         New Zealand ANZ Nov Heavy Truckometer
         So Korea Nov Import/Export Price Indices
         Japan Nov. PPI, Domestic Corporate Goods Price Index + Manpower Q1 Survey
         China 18Q1 Manpower Survey
         Aussie NAB Nov Business Conditions, Q3 House Price Index, Oct Credit Card Balances
         Singapore Oct Retail Sales
         French Q3 non-Farm Payrolls
         UK Nov CPI, Retail Price Index, & PPI + Oct House Price Index
         Eurozone Dec ZEW Survey/Expectations
         German Dec ZEW Survey/Expectations 

         India Oct Industrial Production & Manufacturing Output + Nov CPI
         Russian Oct Trade Balance
Tuesday,   Dec. 12 FOMC 2-day Meeting Starts
US Nov. NFIB Small Business Optimism Index
US Nov PPI-Final Demand

Federal Reserve Bank of NY "Transforming Communities: Driving & Assessing Investment"
Redbook weekly Store Sales Snapshot
US Treasury Auctions $12B reopened 30-year Bonds (1pm et)
State of Alabama Special Senate Election
    OVERNIGHT into US Wed. a.m. et:
        New Zealand Nov Food Prices
        RBA Gov Lowe speaks (Sydney)
        Japan Oct Machine Orders
        German Nov Wholesale Prices
        Italy Oct Industrial Production
        RBA's Kent speaks & Richard panelist (Sydney)
        German Nov (F) CPI, HICP, WPI
        South Africa Nov CPI + Oct Retail Sales
        UK Nov Claimant Count/Change, Oct Avg weekly Earnings, Oct ILO Unemployment Rate
        Eurozone Oct Industrial Production, Q3 Unemployment/Change
        Brazil Oct Retail Sales
Wed.,        Dec. 13 MBA weekly Mortgage/Refinance Applications
US Nov CPI
Canada Teranet/National Bank Nov House Price Index
EIA Petroleum/Gasoline/Distillates Status
(10:30am et)
FOMC Statement + SEP Updated
(Member Financial Projections, 2pm et)
Yellen
(final?) Press Conference (2:30pm et)
BoC Gov Poloz speaks @Canadian Club Toronto w/Press Conference
    OVERNIGHT into US Thurs. a.m. et:

           South Korea Nov Unemployment Rate
           New Zealand Apr Economic Forecast, Budget Balance
           Aussie Nov Unemployment Rate/Change/Participation, & Dec Consumer Inflation Expectation
           Japan Nikkei Dec (P) Manufacturing PMI
           Singapore Q3 Unemployment Rate
           UK RICS Nov House Price Balance
           China Nov Retail Sales, Industrial Production, Fixed Asset Investments
           Japan Oct (F) Industrial Production/Capacity Utilization
           EU 25 Nov. New Car Registrations
           Swiss KOF Institute Winter Economic Forecast +Nov Producer & Import Prices
           French, Italian, Spanish, Swiss Nov. CPI & HICP
           EU, French, Italian, German Markit Dec Services & Composite PMI
           South Africa Q3 Current Account & Nov. PPI
           SNB (Swiss) MPC Rate Decision & Policy Assessment +Nov PPI
           SNB post-Meeting Press Conference
           Norges Bank (Norway) MPC Meets + Press Conference

           UK Nov Retail Sales
           BoE MPC Rate Decision + Asset Purchase Target, Minutes of Meeting  (12/14 local time) 
           ECB MPC Meets on Rates/QE  (12/14 local time)
Thursday, Dec. 14 ECB's Draghi post-Meeting Press Conference (Frankfurt)
BoE post-Meeting Press Conference
US weekly Jobless Claims
Canada Oct New Housing Price Index
US Nov. Retail Sales
US Nov Import/Export Prices
US Oct. Wholesale Inventories
Markit US (Dec P) Manufacturing, Services & Composite PMI
EIA weekly Natural Gas Report
US Treasury Refunding Announced
Weekly Fed Balance Sheet & US Money Supply
    OVERNIGHT into US Fri. a.m. et:
         New Zealand Nov ANZ Manufacturing PMI
        Japan Q4 Tankan  Index & Outlook + Nov Dept Store Sales
         South Korea Nov Trade Balance (Imports/Exports)
         Eurozone Oct Trade Balance
         Russia MPC  Dec Rate Decision (current 8.25%)
         BoE Quarterly Bulletin
         Rome Investment Forum 2017: Financing Long-Term Europe (Rome Italy thru 16th) Norges Bank Dpty Gov Matsen speaker, IMF, and others 
Friday,      Dec. 15 Quadruple Witch for Qtrly Options/Futures Expiration & Index Rebalance
Canada Oct Manufacturing Sales, Nov Existing HJome Sales 
Empire State NY Fed Nov. Manufacturing Survey
US Nov Industrial Production/Capacity Utilization
Atlanta Fed Dec Business Inflation Expectations
Baker-Hughes US/North American Rig Count (1pm et)
US Oct TICS (4pm et)
Saturday,  Dec.16 South Africa Holiday--Day of Reconciliation

         WEEKS AHEAD:  12/
21    BoJ MPC Meets
                                01/03/2018     FOMC Minutes of the Meeting Concluded on 12/13/17

*FOMC 2017 Voting Members:  Four governors on the FOMC are permanent voters: Janet Yellen, Randall Quarles, (Stanley Fischer Resigned 10/13), Lael Brainard, Jay Powell. (Dan Tarullo was the 5th.vote at evnominating one after July 4tery meeting but he resigned, too)  Board Governors still endure 3 vacancies, w/Trump concentrating his efforts on selecting the next Fed Chairperson. NY Fed Pres.Wm Dudley also a permanent FOMC voting member. The rest of the voters, in 2017, are 5 of the 11 regional Fed Pres.:New voters, for 2017: Philly Fed Pres. Patrick Harker, Minneapolis Fed Pres Neel "Too Big to Fail" Kashkari, Dallas Fed's Robert Kaplan, and Chicago Fed Pres Charles Evans.  Evans was last a voter in 2015. The other 3 are voters for the first time. Loretta Mester (Cleveland), Eric Rosengren (Boston), James Bullard (St. Louis) and Esther George (Kansas City) have lost their votes in 2017. In an Oct. speech, Harker said he would have preferred if rates had been raised at the prior FOMC meeting. Kaplan was a 23-yr veteran of Goldman Sachs before winding up at Harvard Business School. Mester & George are hawks that dissented at several 2016 meetings until the 2016 rate hike announced 12/14 but aren't voters in 2017.  Richmond Fed's Jeff Lacker resigned in early April 2017, when it became known he'd leaked sensitive FOMC discussions to Medley Advisors. Richmond is operating with an Interim Pres, Mark L Mullinix, while the search for a new leader continues. Raphael Bostic replaced Dennis Lockhart at the Atlanta Fed, when Lockhart left.
                     

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