(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) U.S. consumer spending is expected to have picked up and a gauge of business spending plans likely rebounded in October, suggesting an acceleration in economic growth early in the fourth quarter. A Reuters survey of economists forecasts consumer spending, which accounts for more than two-thirds of U.S. economic activity, rising 0.3 percent in October after edging up 0.1 percent in September. (0830/1330) A second report from the Commerce Department is expected to show non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, bounced back 0.4 percent after slipping 0.1 percent in September. (0830/1330) Separately, the number of Americans filing for unemployment benefits is expected to slip by 1,000 to a seasonally adjusted 270,000. (0830/1330) Meanwhile, the Federal Housing Finance Agency issues House Price Index for September and Commerce Department issues new single-family home sales for October. The University of Michigan’s final index on overall consumer sentiment in November is also due.
Deere & Co reports its results for the fourth quarter. The agriculture and farm equipment maker has seen a downturn in global demand for both new and used products as crop prices drop. Analysts said this could be the third straight quarter of sales and revenues declines for the manufacturer. Investors will be looking for any comments on the company’s outlook for 2016, additional details regarding recent deals, and the condition of the global farm and construction equipment sector.
The New York attorney general will urge a judge to block daily fantasy sports leaders DraftKings and FanDuel from operating in the state. In a lawsuit filed this month, New York Attorney General Eric Schneiderman contended that daily fantasy sports gaming was “nothing more than a rebranding of sports betting.” The case is before New York Supreme Court Justice Manuel Mendez.
Brazil is expected to keep interest rates at a nine-year high this week after inflation climbed past 10 percent in the middle of the worst recession in decades. The central bank is expected to leave its benchmark rate unchanged at 14.25 percent.
Mexico’s central bank will release current account data for the third quarter. The country’s current account deficit reached $7.98 billion in the second quarter. (1000/1500) (Compiled by Sourav Bose in Bengaluru; Editing by Kirti Pandey)