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U.S. consumer spending, which accounts for more than two-thirds of economic activity, is likely
to have increased by 0.4 percent in July from its previous month's reading of 0.2 percent. In a
separate report, the Commerce Department will release the personal income data for July, which
is expected to have risen 0.4 percent for a fourth straight month. The department will also
release the July figures for personal consumption expenditures price index. (0830/1230)
Meanwhile, the University of Michigan's final August reading of consumer sentiment index is
expected to come in at 93.0, higher than its preliminary reading of 92.9 earlier in the month.
(1000/1400)
Wal-Mart Stores Inc (NYSE:WMT) will kick off its holiday layaway program two weeks earlier than last year,
as the world's largest retailer hopes to get a jump on year-end demand and fuel sales of
soon-to-be-launched Star Wars toys. The program allows shoppers to pay for holiday gifts and
other products in installments.
Bank of Nova Scotia is expected to report a rise in third-quarter earnings. Canada's most
international bank has been expanding in its key markets of Mexico, Peru, Colombia and Chile.
Investors will be looking to see if the oil price selloff has started to take a toll on the
bank.
Mylan (NASDAQ:MYL) NV's shareholders hold a meeting in the Netherlands to vote on whether the company should
begin a tender offer for Perrigo Co (NYSE:PRGO) Plc's shares. Proxy advisory firm ISS has told shareholders
to vote against it, while Mylan's two largest shareholders representing about 20 percent of
shares plan to vote for it.
Statistics Canada will release producer prices data, which is expected to remain unchanged for
July after a rise of 0.5 percent in June. Also, the raw materials prices for July are expected
to have dropped by 4.0 percent. (0830/1230)
Brazil's economy likely contracted sharply in the second quarter, marking the start to what many
expect will be the longest and deepest recession to hit Latin America's biggest economy in 25
years. Gross domestic product is expected to have fallen a seasonally adjusted 1.7 percent in
the second quarter from the first three months of 2015. Separately, the country's central bank
releases its monthly report on the federal budget, which is expected to post a deficit of 7.2
billion reais for July, compared with a deficit of 9.323 billion reais for June. In a separate
report, Chile's central bank will publish the minutes of August's interest rate meeting, when it
held the rate as expected.