November 6, 2014 / 7:33 PM / 4 years ago

What to Watch in the Day Ahead - Friday, Nov. 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)

The U.S. Labor Department releases payrolls data for October. U.S. employers likely expanded their non-farm payrolls by a healthy 231,000 in the month, according to a Reuters poll, just a slight step back from September’s robust gain. The jobless rate is seen holding steady at the six-year low of 5.9 percent reached in September. (0830/1330). Warren Buffett’s conglomerate, Berkshire Hathaway Inc, reports third-quarter results. Analysts expect the company to report earnings of $2,592.73 per Class A share, down from $3,074 a year earlier. ArcelorMittal SA, the world’s largest steel producer, releases third-quarter results, which are likely to show divergence between the now buoyant steel industry, particularly in the United States, and muted mining business, which led the company to cut its full-year forecast in July. The Bank of France hosts governors of most major central banks at a conference titled “Central Banking: The Way Forward”. Among the officials speaking will be Janet Yellen of the U.S. Federal Reserve, Mario Draghi of the European Central Bank, Mark Carney of the Bank of England, Jens Weidmann of the Bundesbank, Haruhiko Kuroda from the Bank of Japan and Zhou Xiaochuan of the People’s Bank of China. The International Monetary Fund chief Christine Lagarde is also scheduled to speak. The conference gives central bankers a chance to sit down and discuss their increasingly divergent monetary policies as the Fed begins unwinding exceptional stimulus, the Bank of Japan launches a new round of easing and the ECB struggles with whether to take further action. Humana Inc, which manages healthcare plans for Medicare and those on the public exchanges created by Obamacare, is expected to report third-quarter results. Investors will watch for updates on how its exchange patient costs are trending and its management of government pressure on payments for Medicare. Shares of Freshpet Inc, a maker of healthy food for cats and dogs, and Chinese solar park operator Sky Solar Holdings Ltd are expected to start trading on the Nasdaq. Freshpet’s initial public offering could raise up to $146 million and its 10.4-million-share offering is expected to be priced at $12-$14 per share, valuing the company at about $445 million at the top end of the range. Sky Solar’s IPO of 12.5 million American depositary shares could raise up to $150 million and its offering is expected to be priced at $10-$12 per ADS, valuing the company at about $659 million at the top end of the range. Statistics Canada is expected to report that the Canadian economy likely lost 5,000 jobs in October, pulling back from the surge in hiring seen in September, while the unemployment rate is forecast to hold steady at 6.8 percent. The report has come under scrutiny of late for its swings in both directions month to month (0830/1330). Outgoing Brazilian Finance Minister Guido Mantega will open up a conference on fiscal policy in Sao Paulo. Investors will be watching for any signals of a change in economic policy by the recently re-elected President Dilma Rousseff. Mantega has been a consistent booster of the Brazilian economy despite its recent weakness, and said recently that the election showed that the Brazilian people approve of the current economic strategy. Separately, data from Mexico will show whether inflation, which hit 4.22 percent in September, continued to climb above the central bank’s 4-percent ceiling (0900/1300). (Compiled by Ayesha Sruti Ahmed in Bangalore; Editing by Maju Samuel)

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