The Week Ahead: Oct. 15-21, 2012

October 14, 2012 10:52 PM

via a special arrangement with Informa Economics, Inc.

Presidential debate key focus for week ahead

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.

The second of three presidential debates is the major focus this week when on Tuesday President Barack Obama and GOP challenger Mitt Romney meet at Hofstra University in Hempstead, N.Y. The debate will have a different format, with an audience of undecided/independent voters picked by Gallup Poll asking questions.

Things pick up steam on the economic front in the week ahead, with Retail Sales, Business Inventories and the Empire State manufacturing index all out on Monday. The update on inflation at the consumer level via the CPI comes Tuesday along with Industrial Production, while Housing Starts data arrives on Wednesday. Weekly jobless claims data comes Thursday and will be watched for some data that wasn’t reported by a "large" state this past week. Plus, the Philly Fed index is out that day. The week caps off with Existing Home Sales figures.

Traders will keep watching earnings reports and any central bank moves as the week unfolds. Mideast tensions remain a focus for crude oil traders as well. Also, there are several European Union/euro zone events on tap this week – see the calendar of events for details.

Agriculture interests will return their focus to how fast harvest is progressing with rains forecast on the weekend to potentially slow up the record pace somewhat. Data releases also return to a more-normal schedule with Crop Progress Monday, Weekly Export Sales on Thursday and the week wraps up with the monthly Cattle on Feed report Friday afternoon.

Congress remains on their pre-election break with a lame-duck session on tap following the Nov. 6 elections.

Monday, Oct. 15
China issues monthly reports on consumer and producer prices.
Federal Reserve: New York Fed President William Dudley addresses the National Association for Business Economics meeting.
Finance ministers from Asia and Europe meet in Bangkok.
Portugal releases a draft 2013 budget.
Middle East: United Nations Security Council opens debate on the Middle East.
Economic reports:
Selected Interest Rates (Federal Reserve) | Empire State Mfg Survey | Retail Sales | Business Inventories.
USDA reports:
Export inspections (AMS) | Wheat Outlook (ERS) | Aquaculture Data (ERS) | Feed Outlook (ERS) | Turkey Hatchery (NASS) |

Crop Progress (NASS).

Tuesday, Oct. 16
Presidential debate: The second of three presidential candidate debates will take place at Hofstra University in Hempstead, N.Y.
Energy: Weekly National Petroleum Report (American Petroleum Institute).
Economic reports:
ICSC-Goldman Store Sales | Consumer Price Index | Treasury International Capital | Industrial Production | Housing Market Index.
USDA reports:
Meat Price Spreads (ERS) | Sugar and Sweeteners Outlook (ERS).

Wednesday, Oct. 17
Energy reports:
Weekly Petroleum Status Report (EIA) | Weekly ethanol plant production (EIA).
Economic reports:
Weekly mortgage applications (Labor Dept.) | MBA Purchase Applications | Housing Starts.
USDA reports:
Livestock, Dairy, and Poultry Outlook (ERS) |

Broiler Hatchery (NASS).

Thursday, Oct. 18

China issues third-quarter GDP.
European Union leaders meet. On the agenda: implementing the growth compact and a report on closer economic and monetary union.
Weekly Traffic of Major Railroads (Assn. Of American Railroads) | Grain Transportation Report (AMS).
Energy reports:
Weekly US underground natural gas stocks (EIA).
Economic reports:
Jobless Claims (Labor Dept.) | Weekly Mortgage Rates (Freddie Mac) | ICI weekly money market mutual fund data | Phila. Fed Survey | Leading Indicators.
USDA reports:
Export Sales (FAS).

Friday, Oct. 19
Economic reports:
Existing Home Sales.
USDA reports:
Peanut Prices (NASS) | Cattle on Feed (NASS) | Milk Production (NASS).


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.






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