What to Watch in the Day Ahead - Friday, Sept 25
(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. Commerce Department releases the final reading of gross domestic product for the second quarter. The U.S. economy is expected to have expanded at an annual pace of 3.7 percent, same as reported last month. (0830/1230) The department will also issue the building permit revisions for August and the revised corporate profits for the second quarter. (0830/1230) Also, the University of Michigan's final figures on the overall index on consumer sentiment is expected to rise to 86.7 in September, compared with the preliminary reading of 85.7. (1000/1400) Meanwhile, financial data firm Markit will release the final reading of its Purchasing Managers Index for the services sector. (0945/1345) Apple Inc's most advanced iPhones to date, iPhone 6s and iPhone 6s plus, will go on sale for customers in Apple's retail stores. Both models will be available from AT&T, Sprint, T-Mobile, Verizon Wireless, additional carriers and some Apple authorized resellers. Apple announced the fastest iOS adoption ever, with more than 50 percent of devices already using iOS 9.2. The company had said advance orders of its new iPhones were on pace to beat the 10 million units the previous versions logged in their first weekend last year, a feat that analysts attributed to the inclusion of sales from China. Federal Reserve Bank of St. Louis President James Bullard participates in discussion, "New Directions in Monetary Policy" at the Global Interdependence Center (GIC) in St. Louis, Missouri. (0915/1315) Federal Reserve Bank of Kansas City President Esther George speaks on economic conditions and monetary policy at the Aksarben Business Luncheon in Omaha, Nebraska. (1325/1725) Investors will be closely watching BlackBerry Ltd's software revenues when the tech company reports its second-quarter results. BlackBerry is betting on strong growth from its software unit, which primarily sells enterprise mobility management and secure communications software, as it looks to offset the impact of falling system access fee revenues and waning interest in its devices. The company has set an ambitious software revenue target of $600 million for the current fiscal year, but it was slammed by analysts after much of its first-quarter revenue growth in the segment came from one-time licensing deals and not from new recurring enterprise accounts. Global regulators meet in London to strike a deal on a rule on stopping banks being "too big to fail" by requiring them to hold enough equity capital and bonds to avoid taxpayers being called on in a crisis. The Financial Stability Board (FSB), chaired by Bank of England Governor Mark Carney, wants the world's biggest banks to have enough funds to tap when in trouble. The proposed rule is known as total loss absorbency capacity or TLAC, and is seen by Carney as the last major reform after the 2007-09 financial crisis forced governments to shore up lenders. The rule will apply to nearly all the 30 big banks the FSB has already deemed to be "globally systemic" such as Goldman Sachs, Deutsche Bank and HSBC. UBS and Bank of America have said they can meet the TLAC requirement well ahead of 2019, if not already. A deal would need endorsement from G20 leaders meeting in November. As the United Nations marks its 70th anniversary, world leaders will gather for the annual General Assembly in New York. IMF Managing Director Christine Lagarde said she hoped world leaders would adopt a United Nations agenda for sustainable development over the next 15 years at the summit scheduled for Sept. 25-27. Treasury Under Secretary of International Affairs Nathan Sheets speaks on "Opportunities in Latin America and the Caribbean" before the Council of the Americas, in Washington. (0830/1230) Treasury acting Assistant Secretary for Financial Markets Seth Carpenter speaks at a National Economists Club luncheon in Washington. (1230/1630) Mexico will release its trade balance figures for August. Meanwhile, Argentina is expected to announce its economic activity data for July, along with the current account figures for the second quarter. LIVECHAT - THE WEEKAHEAD - with Reuters markets editor Mike Dolan Join Mike Dolan as he goes through the key macroeconomic and political themes for the coming week at 0600 ET/1000 GMT. To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled By Nayyar Rasheed in Bengaluru; Edited by Don Sebastian)
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