What to Watch in the Day Ahead - Friday, Aug. 14
(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) The U.S. factory output is predicted to have advanced 0.4 percent in July, compared to a 0.1 percent drop in the previous month. Also, the Federal Reserve releases the industrial output data for last month, which are forecast to have increased 0.3 percent. (0915/1315) Separately, the producer price index for final demand is expected to have edged higher 0.1 percent in July from June. (0830/1230) Meanwhile, the University of Michigan survey releases the preliminary reading of consumer sentiment for August. Economists forecast the number to come in at 93.5 from last month's 93.1. (1000/1400) Department store operator J.C. Penney Co Inc is expected to report a second-quarter profit above analysts' average estimate, according to Thomson Reuters StarMine. CEO Myron Ullman, credited with reviving sales and profit, has stepped aside, handing over the reins to former Home Depot executive Marvin Ellison, who began his job on Aug. 1. Investors will be keen on hearing Ellison's plans as he embarks on his first quarter as CEO. Euro zone finance ministers will meet in Brussels to discuss Greece's third bailout package. Greece and its creditors reached a deal on an 85 billion euro bailout package. The Greek parliament is set to adopt a number of measures as part of the agreement and the euro zone ministers are widely expected to endorse the pact at the meeting. The world's most powerful money managers release their quarterly holdings. The managers ranging from Seth Klarman's Baupost Group and Warren Buffett's Berkshire Hathaway to William Ackman's Pershing Square Capital Management say which U.S. stocks they held at the end of the second quarter, shedding light on how they positioned their portfolios before an eventual U.S. interest rate hike, a slowdown in growth in China, fears about debt crises in Greece and Puerto Rico and a fast-paced mergers market where especially pharmaceutical companies are looking to tie up at a quickened pace. Canada's factory sales are forecast to have rose 2.1 percent in June, after edging up 0.1 percent in May. (0830/1230) Separately, the industry group for Canadian real estate agents will release existing home sales data for July. LIVECHAT - The Weekahead - with Reuters markets editor Mike Dolan Join Mike as he goes through the key macroeconomic and political themes for the coming week at (0600/1000). To join the Global Markets Forum, click here: bit.ly/1kTxdKD (Compiled by Hardik Vyas in Bengaluru; Edited by Maju Samuel)
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