wall street in advance

September 2019  Economic Statistics
and Other Economic Influences

                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
                 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,   Sept. 01 US Boosts 25% Tariffs on Chinese Imports to US to 30%, and Adds new 15% Tariffs on $160B of additional Chinese Imports to US
FASB start date for new rule forcing Lease Oligations to be accounted for on Balance Sheets, in Q4
    OVERNIGHT into US Mon. a.m. et:
        Aussie AiG Performance of Manufacturing Index, CBA Aug Mnftg PMI, CoreLogic House Price Index, Aug TD Securities Inflation/Sept Expectations, Q2 Corp. Profits & Inventories, ANZ Aug Job Ads, Commodity Index
        So. Korea Nikkei Aug Manufacturing PMI
        China Caixin Aug Manufacturing PMI
        Japan Aug Official Reserves, Q2 Capital Spending, Corporate Profits , Nikkei Mnftg PMI
        India Nikkei Aug Mnftg PMI
        Russia Markit Aug Mnftg PMI
        Swiss July Retail Sales, Aug Manufacturing PMI
        Markit Eurozone, Germany, Italy, Spain Aug Manufacturing PMI
        Hong Kong Fx Researves
        South Africa Aug Total Vehicle Sales
        ECB 'Mersch Keynotes ECB Legal Conference "Building Bridges-central banking law in an interconnected world" (8:45cet) ECB's Lautenschlager chairs panel "Autonomy of interpretations of Union law by the CJEU" @ECB Legal Conf (11:15cet)
Monday,  Sept 02 US National Holiday--Labor Day ALL US Markets CLOSED
Canada Labour Day Holiday, Banks & Markets Closed
ECB VP de Guindos panel chair "The application of national law by ECB" (14:00 cet) ECB's Couere chairs panel "Extraterritorial sanctions, central banks & financial services (15:45cet)  @ECB Legal Conference
Brazil Aug Trade Balance, Markit Mnftg PMI
BoE's Brazio speaks at Jt BoE/Edinburgh Futures Institute on "Sustaining Financial Resilience" (18:00gmt; Edinburgh)
Mexican Markit Aug Manufacturing PMI
    OVERNIGHT into US Tues. a.m. et:
        South Korea Q2 GDP, Aug CPI
        Aussie Q2 GDP, Current Account Balance, Jul Retail Sales
        RBA (Aussie) MPC Interest Rates Decision (09/03 local time)
        UK Markit Aug Manufacutring PMI, BRC Like-for-Like Sales
        Swiss Aug CPI, & SNB Presentation of New 100-Franc Note
        UK Markit/CIPS Aug Construction PMI
        Eurozone July PPI
        South Africa Mnftg PMI, Q2 GDP
Tuesday  Sept 03 US August Vehicle Sales (ex-GM & F)
Canada RBC Aug Manufacturing PMI
ECB's Enria panel chair "The institution of 'close cooperation' in the SSM" @ECB Legal Conference (13:30cet)
US Aug. Manufacturing PMI (9:45am et)
US ISM Manufacturing Index/Orders/Prices Paid/Employment Outlook (10am et)
US July Construction Spending & Annual Revisions
US Treasury Announces Value of 4-, & 8-week Bills to be Sold 09/05 (11am et)
US Treasury Auctions $45B 3-, & $42B 6-month Bills (11:30am et)
Fed's Rosengren on US Economy w/Q&A @Stonehill College (Easton MA 5pm et)
    OVERNIGHT into US Wed. a.m. et:
        Aussie Q2 GDP, Aug Performance of Services Index, CBA Services + Composite PMI, CapEx
        BoJ's Kataoka speaks (Hakodate)
        China Caixin Aug Services + Composite PMI
        India Nikkei Aug Services PMI
        South Africa Standard Bank Aug PMI
        Markit Eurozone, Germany, Italy, France, Aug Services+Composite PMI
        Ward's US Aug Vehicle Sales

       UK Markit/CIPS Aug Services+Composite PMI, Aug Official Reserves
        Eurozone Jul Retail Sales

        ECB's Enria introductory statement at ECON hearing of the EU Parliament (Brussels 9:00cet)
         ECB's Lane keynotes 50th Anniversary Conference "The Money, Macro & Finance Research Group (13:00cet London)
Wed.,      Sept 04 MBA weekly Mortgage/Refinance Apps
UK Treasury Select Committee Hearing on August Inflation Report (14:15gmt)
ECB's Mersch hearing on his appointment as Vice Chair of ECB Supervisory Board @EU Parliament (Brussels 16:00cet)
ECB's Lane speaks (London)
US July Int'l Trade Deficit (8:30am et)
Former Fed Gov Donald Kohn @"Money Macro & Finance" 50th Anniversary Conference (London 17:00gmt)
ECB's de Guindos speaks at Annual US-EU Symposium hosted by Program on Int'l Financial Systems (PIFS; Frankfurt 18:30 cet) )
Canada Q2 Labor Productivity, Jul Int;l Trade Balance
Redbook weekly store sales snapshot (8:55am et)
Fed's Williams keynotes "Real Return XIII: The Inflation-Linked Products" Conference from Euromoney & Global Capital (9:30am et NY)
Brazil Markit Aug Services + Composite PMI
Fed Gov Bowman & Fed Pres Bullard host Fed Listens  (12:30pm St Louis FRB MO)
Bk of Canada MPC Interest Rate Decision
Fed's Beige Book released (2pm et)  
Fed's Evans opens "Forging a New Path for North American Trade: The Auto Sector" @FRB Chicago's Detroit branch (3:15pm edt thru 5th)
    OVERNIGHT into US Thurs. a.m. et:
         New Zealand Aug Volume of All Buildings
         Japan Aug Foreign Purchases of Japan Bonds & Stocks, Nikkei Services PMI
         Hong Kong Aug Nikkei Mnftg PMI (protests disrupted)
         Aussie Jul Trade Balance
         Swiss Q2 GDP
         Germany Jul Factory Orders
         ECB's de Guindos opens 4th Annual ECB Research Conference (@ECB Frankfurt)
         Markit Germany Aug Construction PMI
         SNB (Swiss) Chief Jordan speech "Wahrungen, Geld und digitale Token" (Currency, Money & digital Tokens"   Basel, Suisse)
         UK Aug New Car Registrations
Thurs.     Sept 05 Challnger Aug Job-Cut Report (7:30am et)
ADP Aug Private Sector Employment Report (8:15am et)
US weekly Jobless Claims/Continuing Claims  (8:30am et)
US Aug Chain Store Sales
Russia CPI, & Central Bank Fx Reserves
US Q2 non-Farm Productivity & Costs
US Services PMI
(9:45am et)
US July Factory Orders (10am et)
US Jul Final Durable Goods/Capital Goods Orders, Shipments
US Aug Non-Manufacturing ISM
BoE's Teneyro speaks @ ECB Research Conference  (Frankfurt)
EIA weekly Natural Gas Report (10:30am et;  w/e 08/30)
EIA weekly Petroleum/Gasonline/Distillates Report (11am et; w/e 08/30)
US Treasury Refunding Announcement (11am et)
US Treasury Auctions 4-, & 8-week Bills (value not yet announced at post; 11:30am et)
BoC's Schembri Delivers Economic Progress Report
Fed weekly Balance Sheet & US weekly Money Supply (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
        Japan Jul Labor Cash Earnings, Overall Household Spending & Wage Income
        German Jul Industrial Production
        Eurozone Q2 GDP, Employment Report, Labor Costs, Gross Fixed Capital, Gov't Expenditureds. Household Consumption
        French July Current Account & Trade Balance
        Aussie Fx Reserves
        Italian Jul Retail Sales
        UK Halifax Aug House Prices, BoE/TNS Aug Inflation Expectations
        ECB's de Guindos speaks @45th Annual Forum on "Intelligence on the World, Europe, & Italy" hosted by Ambrosetti (11:15 cet; Cernobbia Italy)
        Brazil Aug IPCA Inflation Index SA, CPI
        Russian CBR Press Conference
Friday,    Sept 06 US Aug Unemployment Rate/Change/Participation/Ccontinuing Claims (8:30am et)
Canada Aug Employment Report/Change/Participation/Continuing Claims
US Census Quarterly Services Report  (10am et)
Canada/Ivey Aug PMI
Fed Chair Powell (stream) "Economic Outlook & Monetary Policy" discussed with SNB Chair Jordan hosted by Swiss Institute of Int'l Studies (12:30pm et Univ of Zurich Suisse)
Baker-Hughes weekly US/North American Rig Count (1pm et; w/e 08/30)
Saturday,Sept 07 China Aug. Fx Reserves
ECB's de Guindos speaks @ 45th "Intelligence on the World, Europe & Italy" Forum
Sunday,   Sept 08     OVERNIGHT into US Mon. a.m. et:
        China Aug Trade Balance
, Aggregate Financing, Money Supply
        New Zealand Q1 Manufacturing Activity, Volume
        Japan Q2 GDP/Private Consumption/Business Spending, Jul Current Account, Trade  Balance, Eco Watchers Survey Outlook
        Aussie Q4 Manpower Survey, Jul Home Loans, Investment Lending
        New Zealand REINZ Aug House Sales
        Swiss Aug Unemployment Rate
        German Jul Trade Balance, Current Account
        ECB's Hakkarainen speaks @ Financial LAw Seminar "ESG Governance in Investments--monety talks" organized by Hannes Stellman Attorneys (Helsinki Finland 14:20 cet)
        BoE's Vlieghe speaks (London)
        UK Jul NIESR GDP, Industrial & Manufacturing Production, Construction Output, Index of Services, Visible Trade Balance  
        Brazil BCB Focus Market Readout
        Russia Qtr GDP
Monday,  Sept 09 Mexican Aug CPI
US Treasury Auctions $45B 3-, & $42B 6-month Bills (11:30am et)
TD Ameritrade IMX (Retail Investor Sentiment 12:30pm et)
US July Consumer Credit (Debt really, 3pm et)
    OVERNIGT into US Tues. a.m. et:
         New Zealand Aug Card & Retail Card Spending, Heavy Truckometer
         China Q4 Manpower Survey
         Aussie NAB Aug Business Confidence/Survey
         Japan Q4 Manpower Survey
         China Aug PPI, CPI, NAB Business Conditions/Confidence
         Japan Aug Machine Tool Orders
         French Q2 Non-Farm Payrolls, Jul Industrial Production
         Italy Jul Industrial Production
         UK ILO Jul Unemployment Rate/Change, Aug Claimant Count/Change     
         So Africa Jul Manufaturing Production
Tuesday,  Sept 10 NFIB Small Business Optimism Index (6am et)
Canada Aug Housing Starts, Jul Building Permits
Redbook weekly store sales snapshot (8:55am et)
JOLTS (Job Quits & Openings; 10am et)
US Treasury Auctions $28B 52-week  Bills (11:30am et)
US Treasury Auctionss $38B 3-year Notes (1pm et)
    OVERNIGHT into US Wed. a.m. et:
        Japan Q3 BSI Large All Industry
        South Korea Aug Unemployment Rate
        China Aug Foreign Direct Investment
        Spain Jul Industrial Production
Wed.         Sept 11 MBA weekly Mortgage/Refinance Apps (7am et)
US Aug. PPI--Final Demand (8:30am et)
Canada Q2 Capacity Utilization
Brazil Jul Retail Sales
Russia Jul Trade Baance
Atlanta Fed Business Inflation Expectations (10am et)
US July Wholesale Trade Inventories/Sales
EIA weekly Petroleum/Gasoline/Distillates Report (10:30am et;  w/e 09/06)
US Treasury Auctions $24B reopened 10-year Notes (1pm et)
    OVERNIGHT into US Thurs.. a.m. et:
        UK RICS Aug House Price Balance
        Japan Reuters Sept Tankan Index, Aug Domestic Cor;porate Goods Price Index
, Jul Machinery Orders, Tertiary Industry Index, Aug PPI
        Singapore  Q3 Unemployment Rate
        China Trade Balance (?)
        Eurozone, French, German Aug CPI, HICP
        Swiss Aug Producer & Import Prices
        Eurozone Jul Industrial Production
        Singapore Jul Retail Sales
        Italy Q2 Unemployment Rate
        South Africa Jul Mining Production/Gold Production
        ECB MPC Interest Rate, Deposit Facility, & QE Decision (09/12, 13:45cet)
Thurs,      Sept 12 India Jul Industrial & Manufacturing Production, Aug CPI
ECB's Draghi post-Meeting Press Conference (14:30 cet)
EDCB Publication of ECB staff macroeconomic proejctions for Euro area (15:30 cet)
Brazil Jul Service Sector Growth
ECB's Enria panelist "What abitions for the EU banking sector and related policy priorities?"  Draghi, Couere, & de Guindos participate in ECOFIN (Helsinki 16:50 cet)
Former FOMC Gov Janet Yellen keynotes NIC Fall Conference (Chicago 8am et)
US Aug. CPI  (8:30am et)
US weekly Jobless Claims
Canada Jul New House Price Index
Thomas Sullivan, Fed Assoc. Dir Division of Supervision & Regulation before Senate Banking Cmte on Insurance Company Supervision (D.C. 10am et)
EIA weekly Natural Gas Report (10:30am et)
US Treasury Auctions 4-, & 8-week Bills (11:30am et; value not announced at post)
US Treasury Auctions $16B reopened 30-year Bonds
(1pm et)
US Treasury Budget Released (2pm et)
US Fed weekly Balance Sheet & US weekly Money Supply (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
         New Zealand Aug ANZ Manufacturing PMI
         German Aug Wholesale Price Index
         Japan Jul Industrial Production/Capacity Utilization
         German Aug WPI
         Spanish Aug CPI, HICP
         BoE's Hauser Panelist @TradeTech Expo FX Europe (Barcelona Spain 9 bst)
         Eurozone Jul Trade Balance, Q2 /Labor Costs
Friday,      Sept 13 US Aug Retail Sales (8:30am et)
US Aug Import/Export Prices
US Business Inventories (10am et)
U.M. Prelim. Sept Coinsumer Sentiment/Expectations
Baker-Hughes weekly US/North American Rig Count (1pm et)
South Korea & China Holidays
Saturday, Sept 14/
      WEEKS AHEAD:  09/17--18  FOMC Meets,
Member Forecasts Updated, Powell Presser
                                              09/19  BoE MPC Meets
                                                         SNB MPC Meets
                                                         BoJ MPC Meets
                                                         Norges Bk (Norway) MPC Meets
                                            09/24    RBNZ (New Zealand) MPC Meets
                                            09/28    Bk of Mexico MPC Meets

*FOMC 2019 Voting Members:  Chairperson Jerome Powell, as of 02/05/18, and ALL members of the FOMC Board of Governors are permanent voters: That includes Randall Quarles, & Lael Brainard, newly (Sept) sworn in Richard Clarida, plus New York Fed Pres, currently John Williams (Formerly of the San Francisco Fed) who replaced William Dudley, who retired from the bank on June 15, 2018.:New, revolving Regional Fed Bank leaders who are voters for 2018: Atlanta Fed Pres. Raphael Bostic, new in August 2017 (replaced Dennis Lockhart), former McKinsey exec Thomas Barkin, who assumed the title of Pres of Richmond Fed on 01/01/18. San Francisco Fed named Mary Daly Pres/CEO as of 10/1/2018, who'll be a voter until Feb. The hole in the San Francisco Fed's hierarchy resulted in Esther George--a very vocal hawk--becoming a voting member of the FOMC, but she steps aside as of Mary Daly's swearing in, and returns as a voter in Feb 2019. Cleveland Fed's voter, Loretta Mester, a hawk, who wants rates raised at a quicker pace because she believes the Fed has, already, fallen behind the curve.  Richmond wound up with an opening, after Jeff Lacker resigned, in early April 2017, when it became known he'd (unintentionally) leaked sensitive FOMC discussions to Medley Advisors. Richmond operated with an Interim Pres, Mark L Mullinix, while searching for its new leader, Thomas Barkin, who arrived Jan 1st 2018.. Dissenters at the Dec. 2017 Meeting, Neel Kashkari & Charles Evans, are no longer voters in 2018.
               * HICP used in Europe, means Harmonized Index of Consumer Price