August 14, 2014 / 6:30 PM / 6 years ago

What to Watch in the Day Ahead; Friday, Aug. 15

(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. Department of Labor is scheduled to release its monthly report on producer prices, which likely rose in July, but at a slower pace than the prior month. The Producer Price Index for final demand likely inched up 0.1 percent in July after rising 0.4 percent in June. (0830/1230) Another report from New York Fed’s Empire State Manufacturing survey is expected to show manufacturing activity in New York state slowed in August after reaching its highest level in more than four years the prior month. (0830/1230) Meanwhile, Federal Reserve will issue industrial production for July. (0915/1315) Thomson Reuters/University of Michigan’s preliminary gauge of consumer sentiment for August will also be released. (0955/1355) Cosmetics maker Estee Lauder, known for its Clinique and MAC brands, is expected to release its fourth-quarter results. The company has seen a surge in growth as the luxury market thrives. Estee Lauder’s sales growth has been ahead of the category and large peers L’Oreal SA and LVMH. Investors will look for whether Estee Lauder can sustain the momentum. They will also look for details on growth in emerging markets and response to its new shower gel, body lotion and limited edition mascara. According to StarMine, the company will beat revenue estimates, but miss earnings estimates. Federal Reserve Bank of Minneapolis President Narayana Kocherlakota is scheduled to speak on “The Current and Future State of Community Banking, Community Bank Supervision/Regulation and the Economy” before the Independent Community Bankers of Minnesota Annual Convention. (1045/1445), China’s second-biggest e-commerce company and challenger to No. 1 Alibaba, will release its second-quarter financial results, the very first results after its initial public offering. Statistics Canada is scheduled to issue revised jobs data for July after revealing an error in the figures released on Aug. 8. Earlier, the country’s statistical agency reported that Canada’s economy created a net 200 jobs in July, while labor force participation fell to a fresh 13-year low. Separately, Finance Minister Joe Oliver will be appearing at an event and is set to be quizzed on revised jobs data for July. (0830/1230) Canadian factory sales, which jumped in May to near record levels due to higher shipments of petroleum, coal and motor vehicles, are expected to show a rise of 0.4 percent in June when Statistics Canada releases its report. (0830/1230) Peru’s state statistics agency is likely to release official economic growth data for June, the second quarter and the first half of 2014. The central bank said on July 11 that June’s year-on-year expansion was likely around 2 percent. Peru’s usually fast-paced economy has slowed more than expected this year on weak mining activity, leading the central bank to lower the key interest rate and President Ollanta Humala to introduce economic reforms. In the first five months of 2014, the economy grew 3.57 percent from a year earlier, and the central bank now expects gross domestic product to rise by 4.4 percent in all of 2014. (1000/1400) Separately, the Brazilian central bank’s IBC-Br economic activity, a monthly proxy for gross domestic product data, is scheduled for release. (0830/1230) (All analysts’ estimates are according to Thomson Reuters I/B/E/S/)

Compiled by Sourav Bose in Bangalore; Editing by Kirti Pandey

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