December 8, 2014 / 7:43 PM / 3 years ago

What to Watch in the Day Ahead - Tuesday, Dec. 9

(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 issues report of job openings and labor turnover for October. Analysts expect job openings to rise to 4.79 million in October after falling to 4.74 million in September (1000/1500). Separately, U.S. Department of Commerce releases National Federation of Independent Business Optimism Index for November. Small business optimism rose 0.8 point to 96.1 in October (0730/1230). The commerce department also releases data for wholesale inventories and wholesale sales for October. Wholesale inventories likely rose in the month, but at a pace slower than in September (1000/1500). The U.S. Federal Reserve will meet to propose extra capital standards for the eight largest and most risky U.S. banks. The surcharge will take into account the degree to which the banks rely on wholesale funding. The rules will be in line with the global Basel III capital plan, but may well go over and above it. The banks affected are Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, State Street and Wells Fargo. Auto parts retailer AutoZone reports first-quarter results. The company has taken a hit this year as more Americans choose to buy new cars over fixing old ones. U.S. automakers reported their best November sales pace since 2003 on top of strong October sales, suggesting AutoZone may report another weak quarter. Investors will look for the company’s views on demand going into next year and whether AutoZone expects another severe winter to boost its current quarter. Chipmaker Broadcom could raise its forecast for fourth-quarter revenue at its annual investor event as it has at many past meetings. The company is also expected to give details of how it will return more money to shareholders after closing down its costly and unprofitable baseband chip business. BlackRock Inc’s Chief Financial Officer Gary Shedlin presents at Goldman Sachs Financial Services Conference. Shedlin gives a business update on the world’s largest money manager. The national statistics institute of Mexico will provide annual inflation data for November. Mexico’s annual inflation rate is seen cooling in November, boding for steady borrowing costs well into next year. The annual inflation rate is seen falling to 4.19 percent in November from 4.30 percent in October, according to a Reuters poll. Mexico’s central bank held its benchmark interest rate steady at 3.0 percent, and policymakers said they expected the pace of consumer price gains to cool further to 3 percent by mid-2015. However, a slump in the peso to a two-and-a-half-year low could add to price pressures, policymakers said (0900/1400). Separately, Mexico’s retail association Antad will release same-store sales for November, after sales at stores open at least a year accelerated by 2.1 percent in October. European Central Bank Executive Board member Peter Praet speaks before the Peterson Institute for International Economics in Washington on the current issues in monetary policy that the Euro area must confront. (Compiled by Astha Rawat in Bengaluru; Editing by Kirti Pandey)

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