What to Watch in the Day Ahead - Tuesday, Oct. 7
(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) Yum! Brands will report third-quarter results after the market closes. The company has already warned that same-restaurant sales in its all-important China market fell 13 percent in the quarter ended Aug. 31 due to a supplier scandal that has devastated sales at its KFC and Pizza Hut chains and also at rival McDonald's Corp. Investors will be looking for signs that the crisis is abating.
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks on "Clarifying the Objectives of Monetary Policy" before an event sponsored by the Rapid City Economic Development/Black Hills Knowledge Network (1430/1830). Separately, Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy before an economic forum hosted by the Federal Reserve Bank of Kansas City in Albuquerque (2030/0030). Separately, Former Federal Reserve chair Ben Bernanke is the key speaker at World Business Forum in New York. Meanwhile, Simon M. Potter, the executive vice president and head of the Markets Group at Federal Reserve Bank of New York, speaks before the Securities Industry and Financial Markets Association conference in New York.
The U.S. Federal Reserve issues consumer installment credit data for August. Analysts expect consumer credit to have dropped to $20 billion from $26.01 billion in July (1500/1900). Separately, Investor's Business Daily and TechnoMetrica Market Intelligence will release the IBD consumer confidence index for October (1000/1400). Also, the Labor Department issues Job Openings and Labor Turnover Survey for August (1000/1400).
Billionaire Warren Buffett is interviewed at a conference by Carol Loomis. With his Berkshire Hathaway conglomerate owning more than 80 businesses, there's plenty for the world's third richest person to talk about, from how his BNSF railroad will handle record crops this year to his behind-the-scene role in getting Coca-Cola to change its compensation plan.
U.S. Treasury Secretary Jack Lew talks about the global economy and the recent G20 finance ministers' meeting in a discussion sponsored by the Peterson Institute ahead of another G20 ministerial meeting and the International Monetary Fund-World Bank fall meetings. Meanwhile, the IMF holds a news briefing on the World Economic Outlook along with its Chief Economist Olivier Blanchard and Economic Counselor and Director of Research Department Thomas Helbling.
The Federal Communications Commission (FCC) hosts the last of its series of roundtables to discuss net neutrality. This one will focus on the critical aspect of what source of authority the FCC should use to ground new internet traffic rules. Participants include legal scholars from top Washington telecom law firms Wiley Rein and Steptoe & Johnson. Chairman Tom Wheeler is expected to participate.
Statistics Canada releases August data for building permits, which are expected to drop by 12.5 percent after hitting a record high in July.
Bank of Canada Deputy Governor Lawrence Schembri will participate in a panel discussion on "Financing: Between New Regulations and Market Turmoil" at the Second International Summit of Cooperatives.
(All analysts' estimates are according to Thomson Reuters I/B/E/S) (Compiled by Nandi Kaul in Bangalore; Editing by Kirti Pandey)
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