It’s another busy week for corporate earnings releases. The economic calendar includes the latest Canadian jobs report and an interest rate announcement from the U.S. Federal Reserve Board.
On Thursday, Canada Mortgage and Housing Corp. reports on housing starts in July. Economists forecast 223,000 starts on an annualized basis, compared with 225,500 a month earlier.
Meanwhile, Statistics Canada posts the new housing price index for July. A rise of 0.7% is expected.
On Friday, StatsCan releases its labour force survey for July. Economists forecast 18,500 new jobs, compared with 34,800 a month earlier. The unemployment rate is expected to remain unchanged at 6.1%.
South of the border
On Tuesday, the U.S. Federal Reserve Board issues its policy statement. The federal funds rate is expected to remain unchanged at 5.25%.
As well, the Fed reports on consumer credit in June. Economists expect an increase of US$6 billion down from US$12.9 billion the previous month.
On Wednesday, the U.S. Commerce Department reports wholesale inventories for June. Economists expect a gain of 0.4%.
On Thursday, the U.S. Department of Labor reports on initial jobless claims for the week ended Aug. 4. Economists forecast 310,000 claims, up from 307,000 in the previous week.
Corporate earnings
Tuesday brings earnings reports from Cisco Systems, Cossette Communication Group, Finning International, Fluor, Linamar, Marsh & McLennan Cos., Molson Coors Brewing, Tyco International, and Yamana Gold.
Wednesday’s reports include AltaGas Income Trust, Baytex Energy Trust, Biovail, ING Canada, Manulife Financial, Mullen Group Income Fund, Newalta Income Fund, Quebecor World, Revlon, Rona, and Sprint Nextel.
Thursday brings quarterly earnings releases from Canadian Tire, GMP Capital Trust, Goldcorp, Inter Pipeline Fund, Labopharm, Lions Gate Entertainment, Magna Entertainment, Magna International, Metro Inc., Onex, TLC Vision, and Yellow Pages Income Fund.
On Friday, Denison Mines reports second-quarter earnings.