What to Watch in the Day Ahead; Friday, Aug. 8

Thu Aug 7, 2014 2:43pm EDT

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(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 is due to post productivity and labor costs data for the second quarter. Business productivity likely bounced back smartly in the quarter as output turned higher after a sharp plunge at the start of the year. That should help slow the rise in unit labor costs. (0830/1230) Also, the Commerce Department is expected to release the U.S. wholesale inventory data for June. (1000/1400) Petroleo Brasileiro SA, the state-run oil company known as Petrobras, is scheduled to announce second-quarter financial earnings after stock markets close in Brazil. Canadian auto parts maker Magna International is expected to report sharply higher second-quarter results, bolstered by robust demand in North America and continued recovery in Europe, where it has been turning around its operations to improve efficiency. Statistics Canada releases employment data for July. Economists are looking for Canada's labor market to bounce back from June's unexpected decline by adding 23,700 jobs, while the unemployment rate is forecast to hold steady at 7.1 percent. (0830/1230) Statistics agency IBGE will publish its benchmark July IPCA index for Brazil. The country's annual inflation rate probably neared 7 percent in July, drifting further away from the government's target and providing ammunition for opposition candidates as they try to unseat President Dilma Rousseff in the October election. (0800/1200) Peru's central bank is scheduled to decide whether to hold or lower the benchmark interest rate from 3.75 percent. The monetary authority surprised the market in July with a quarter percent cut to encourage economic activity. The central bank said later that it would lower the key rate further if the growth doesn't improve. (1900/2300) Chief Executive Masayoshi Son is expected to announce first-quarter earnings of Japan's No. 3 mobile carrier, SoftBank Corp. This will be Son's first public appearance since its U.S. mobile carrier, Sprint, abandoned its plan to bid for T-Mobile. (Compiled by Ayesha Sruti Ahmed in Bangalore; Edited by Sriraj Kalluvila)

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