Central bankers speak; Brazil’s crisis; Futures down


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Premarket: Central bankers; Brazil’s crisis; Futures down – Jun. 27, 2017

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1. Central bankers in the spotlight: Some of the world’s most influential central bankers will speak on Tuesday.

U.S. Federal Reserve Chair Janet Yellen is scheduled to appear at a conference in London at 1 p.m. ET.

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Investors hope she will remain upbeat in her assessment of the global economy. The Fed raised interest rates earlier this month, in a sign it is more optimistic about growth.

Mario Draghi, president of the European Central Bank, is scheduled to speak at a forum in Sintra, Portugal.

Meanwhile, the Bank of England will release its Financial Stability Report, giving more insight into its views on the current economic and financial situation in the U.K. A new consumer confidence survey by polling firm YouGov showed a major slump in how British consumers are feeling after the general election in early June.

2. More pain for Brazil: Brazil’s political crisis has widened again after prosecutors filed criminal charges for “passive corruption” against President Michel Temer, the state news agency reported on Monday.

Temer was the former vice president to Dilma Rousseff, who was impeached last year.

Brazil is in the midst of a deep political and economic crisis. While the longest recession in the country’s history finally ended in the first quarter, the unemployment rate hit a new record of 13.6% in June.

3. Global market overview: U.S. stock futures were lower early Tuesday.

European markets opened down, while Asian markets ended the session mixed.

U.S. crude futures were trading 0.8% higher.

The Dow Jones industrial average gained 0.1% on Monday. The Nasdaq added 0.3%, while the S&P 500 closed flat.

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4. Earnings and economics: Darden Restaurants (DRI) and Barnes & Noble Education (BNED) are set to release earnings before the open Tuesday. AeroVironment (AVAV) will follow after the close.

Multiple media reports indicate Sprint (S) is in talks with Charter Communications (CHTR) and Comcast (CCV) about a partnership that would boost the two media companies’ mobile phone business.

Mexico will post its trade balance data for May at 9 a.m. ET Tuesday.

The Conference Board plans to release its Consumer Confidence report for June at 10 a.m. ET.

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5. Coming this week:

Tuesday WealthX billionaires census release; ECB central bank forum; Barnes & Noble Education reports earnings
Wednesday — Monsanto earnings; Mobile World Congress Shanghai; Toshiba shareholders meeting; U.S. crude inventories data Thursday — U.K. ruling on Fox-Sky deal; Nike earnings; U.S. GDP report Friday — Personal income and spending data; the University of Michigan consumer confidence survey, China official manufacturing PMI

CNNMoney (London) First published June 27, 2017: 4:58 AM ET


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