October 9, 2014 / 7:09 PM / 4 years ago

What to Watch in the Day Ahead - Friday, Oct. 10

(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. Labor Department releases import and export prices for September. Import prices recorded their biggest drop in nine months in August as a sharp decline in the cost of petroleum products eclipsed rising food prices, keeping imported inflation pressures subdued. Economists forecast import prices to decline 0.7 percent in September. Export prices fell 0.5 percent in August (0830/1230). Federal Reserve Bank of Philadelphia President Charles Plosser speaks on “Monetary Policy and Communications” before the Society of American Business Editors and Writers annual fall conference (0900/1300). Separately, Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy before an economic forum (1300/1700). Meanwhile, Federal Reserve Bank of Dallas President Richard Fisher speaks on “Texas: The Jagannatha of the American Economy” before the Council for Economic Education 53rd Annual Financial Literacy and Economic Education Conference (1330/1730). Federal Reserve Bank of Richmond President Jeffrey Lacker also speaks on “Rethinking the Unthinkable: Bankruptcy for Large Financial Institutions” (1500/1900). India’s second-largest IT services provider, Infosys, is expected to post a bigger second-quarter profit and stick to its full-year revenue forecast for 2015. This quarter will be the first in which new CEO Vishal Sikka takes sole charge, without help from the company’s founders and former CEOs. Sikka is expected to lay out his POA for the company, including management changes and adding more technology-oriented designations, as well as chalking out how to win big ticket clients. Dave & Buster’s Entertainment Inc’s initial public offering is expected to be priced at $16-$18 per share, valuing the restaurant and arcade chain at $703.6 million at the top end of the range. Dave & Buster’s is expected to raise $105.9 million from the offering of 5.9 million shares. The company offers sports-oriented entertainment as well as video and simulation games, along with food and beverages at 69 venues it owns and operates. Poor market conditions led Dave & Buster’s to abort plans to go public in 2012. The Institute of International Finance (IIF) holds a “Global Macro Outlook” discussion at its 2014 annual membership meeting in Washington. The U.S. Department of Treasury’s assistant secretary for economic policy Karen Dynan will discuss the “U.S. economy”. Also, Bank of England Deputy Governor Andrew Bailey takes part in an IIF panel discussion on “Future of Risk-Based Capital System”. European Central Bank Vice President Vitor Constancio and Claudio Borio, head of the Monetary & Economic Department, Bank of International Settlements, participate in a discussion on “Monetary Policy: the New Normal”. Also at the event, James Gorman, Chairman and CEO, Morgan Stanley; Anshu Jain, Co-Chief Executive Officer, Deutsche Bank; and Brian Moynihan, President & CEO, Bank of America, will speak on “Future of Finance”. Canada will get its employment report for September, a week after a strong U.S. jobs report was released. Hiring is expected to pick up by 20,000 jobs, more than recovering from the previous month’s loss of 11,000 positions, but the report has come under scrutiny of late for its swings in both directions. The unemployment rate is forecast to hold steady at 7 percent (0830/1230). Sandwiched between the first and second round of the country’s presidential elections, the 2014 Brazil Economic Conference will address Brazil as a market for foreign investment. The country has suffered from mounting inflation and a weakened currency in recent months. Many traders see Brazil’s risk premium declining under a different administration, which would help attract foreign investment and support the real. The meeting will include speeches by Brazil’s foreign minister, the ambassador of Brazil to the United States and the president of the Brazilian Development Bank. The national statistics agency of Mexico is scheduled to release industrial production data for August. Industrial activity rose 0.3 percent in July compared with June (0900/1300). (Compiled by Sourav Bose in Bangalore; Editing by Simon Jennings)

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