September 15, 2014 / 6:39 PM / in 4 years

What to Watch in the Day Ahead - Tuesday, Sept. 16

(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. Labor Department releases monthly Producer Price Index for August. Producer prices likely were flat in August, after rising modestly in July. Excluding food and energy, the CPI is expected to have risen by 0.1 percent last month (0830/1230). Separately, the Treasury Department releases a report on Treasury international capital for July (1600/2000). The Federal Open Market Committee begins a two-day meeting on interest rate policy. Federal Reserve officials will be updating their forecasts for the economy, including estimates for growth, unemployment, inflation and interest rates in 2017. With the Fed’s bond-buying program set to wrap up next month, investors will scour the statement for any clues or any language that clarifies whether the central bank is any closer to raising interest rates for the first time in eight years. Some economists and Fed watchers predict a change to the rate guidance, which has been consistent since March. Photoshop maker Adobe Systems is likely to post third-quarter results that are in line with Wall Street’s estimates, according to Thomson Reuters StarMine. Analysts expect the company to report a rise in subscribers for its Creative Cloud and digital marketing software. Investors will watch for the outlook. The Federal Communications Commission holds two public hearings as it weighs new so-called “net neutrality” rules that regulate how Internet service providers manage traffic on their networks and interact with content providers. The morning public hearing will focus on policy approaches to ensure an open Internet and the second on how mobile broadband should be treated by the rules. IBM will make its Watson analytics cognitive computing system available to wider businesses. In its biggest analytics announcement in a decade, IBM is attempting to make searches through its extensive data base as simple as a Google search. The program will be able to use predictive analytics to answer every day business questions. AstraZeneca and Nektar Therapeutics bowel drug, Naloxegol, is slated for an FDA decision regarding its approval. The drug aims to treat opioid-induced constipation in adults with chronic pain unrelated to cancer. Constipation is a common side effect of opioid painkillers such as morphine. Naloxegol is also being reviewed by European and Canadian regulators. This class of drugs received a recent boost in June, when advisors to the FDA recommended that the agency not require large cardiovascular safety trials. Business Roundtable is scheduled to release the results of its third-quarter CEO economic outlook survey, including the perspective of corporate leaders on economic growth, employment and capital spending. Statistics Canada announces the value of Canadian factory sales for July. Analysts predict the manufacturing sale to increase by 0.1 percent from June. It increased by 0.6 percent in June from May. Bank of Canada Governor Stephen Poloz will make his first public appearance since a Sept. 3 rate decision which reaffirmed the central bank’s strict neutrality as to the direction of interest rates. The topic of his speech is “The role of a floating exchange rate in the Canadian economy and in the Bank’s policy framework,” but he could take questions on other topics during the audience Q&A and a later press conference. Investors will be watching for comments about his views on the currency’s slide to a five-month low and indications of how soon the central bank might shift from a neutral to tightening bias. (All analysts’ estimates are according to Thomson Reuters I/B/E/S/) (Compiled By Nandi Kaul in Bangalore; Editing by Joyjeet Das)

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