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The Conference Board, an industry group, issues the index of consumer attitudes. The U.S.
consumer confidence index is expected to rise to 93.4 in August from 90.9 last month.(1000/1400)
Separately, the S&P/Case Shiller composite index of 20 metropolitan areas releases for June. The
index in June is projected to have gained 5.1 percent, year over year. (0900/1300) Also,
financial firm Markit's preliminary reading of its Purchasing Managers Index for the service
sector is predicted to edge higher to 56.0 in August from the final reading of 55.7 in July.
(0945/1345)
Best Buy Co Inc (NYSE:BBY) reports its second-quarter earnings. The electronics retailer has stabilized its
business by aggressively cutting costs under the Renew Blue program but concerns about its
market share and margins in the face of intensifying competition persist. Investors will be
looking for comments on the pipeline of product launches, real estate optimization, new
investments in its online business and store-in-store partnerships with OEM's.
Toll Brothers Inc, the largest luxury U.S. homebuilder, is likely to report a jump in
third-quarter orders, as the housing recovery gathers steam. Latest data showed a rise in
housing starts as well as mortgage applications, suggesting the market was firing on all
cylinders. Demand is expected to spike in the next few weeks, ahead of a possible interest rate
increase in September. Toll Brothers is better positioned than most other national homebuilders
since its affluent customers are less affected by fluctuations in mortgage rates. Investors will
be looking for comments on whether Toll expects increases in selling prices to moderate over the
next few months.
Bank of Montreal kicks off the earnings season for the Canadian banks by reporting third-quarter
results. The lender is expected to record an increase in profit, driven by strength in its
wealth management and consumer lending businesses.
Bank of Canada Deputy Governor Lawrence Schembri will speak at the Canadian Association for
Business Economics' policy conference in Kingston, Ontario. Schembri's topic will be "The
Long-Term Evolution of House Prices: An International Perspective".
Brazil's central bank releases the current account deficit for July. The figure is forecast to
have expanded to $6.700 billion last month from $2.547 billion in June. Economists also expect
Brazil to have attracted $6 billion from foreign direct investments last month. (0930/1330)
LIVECHAT: U.S. Rate View with TD Securities' Gennadiy Goldberg
Data dependence? China and Greece? Markets are hardly convinced that a rate hike is coming in
September, and the July minutes did little to provide certainty about the countdown to lift-off.
GMF welcomes Gennadiy Goldberg, US Strategist for Rates, FX and Commodities at TD Securities
USA, for a chat about what to expect at the September Fed meeting.(1030/1430)
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