the week ahead: Google to Unveil New Devices, and Labor Dept. Will Report on Jobs

2016-10-02 22:12:10

 

the week ahead: Google to Unveil New Devices, and Labor Dept. Will Report on Jobs

Here’s what to expect in the week ahead:

AUTO INDUSTRY

On Monday, automakers will report new car sales for September, and the industry is expected to have a down month for the second month in a row. The auto researcher Edmunds.com is forecasting sales of 1.4 million automobiles and light trucks. That would be a drop of about 1.7 percent from the same month a year ago. It would also follow the decline of about 4 percent that was reported in August. The auto industry remains at a healthy level, with full-year sales on track to exceed 17 million vehicles. But consecutive monthly declines would bolster the view that the six-year bull run in new car sales had reached its peak. Neal E. Boudette

TECHNOLOGY

Google will hold an event in San Francisco on Tuesday to unveil a series of new hardware products before the holiday shopping season. It is expected to announce new smartphones, tablets and computers along with a Wi-Fi router. One of the most highly anticipated items is Google’s answer to the Amazon Echo. Google Home, which was previewed in May, is a speaker with an array of microphones used to summon a virtual assistant that can help users control connected home devices, send text messages and answer questions. Daisuke Wakabayashi

LEGAL

The Supreme Court, which returns to the bench this week, will hear an insider trading case on Wednesday that is making prosecutors nervous. They fear that the justices will make it harder to prove insider trading when company insiders receive no cash or other tangible benefits for their tips. Federal appeals courts have taken differing approaches to the question. The Supreme Court, often skeptical of prosecutors in white-collar crime cases, is likely to question the government’s lawyer closely about whether a tip to a relative without any money changing hands is a crime. Adam Liptak

ECONOMY

On Friday morning, the Labor Department will report the numbers on hiring and unemployment in September. Economists are looking for an increase of 170,000 jobs, up from a gain of 151,000 in August, with the unemployment rate remaining unchanged at 4.9 percent. While the consensus estimate for hiring is in line with the pace of payroll growth so far this year, economists are looking for a 0.3 percentage point improvement in average hourly earnings, which would bring the 12-month increase in wages to 2.7 percent, a fairly healthy level. This will be a closely watched report, both on Wall Street and in Washington, as it is the second to last snapshot of the job market before the presidential election next month, and both parties are likely to seize on the data to make their cases. Investors will also be watching to see if the job and pay gains are healthy enough to prompt the Federal Reserve to raise rates before the end of the year, as policy makers have suggested they might. Nelson D. Schwartz

The annual fall meetings of the International Monetary Fund and the World Bank kick off early this week in Washington. The talks will be attended by finance officials and central bankers from around the world, and will take up issues including weak global growth trends, the increase of anti-trade measures and concerns that many have expressed about the financial health of European banks. Preliminary meetings start on Monday and the gathering concludes at the end of the week. Landon Thomas Jr.

MARKETS

Innogy, the renewable energy unit of the German utility company RWE, is expected to begin trading on the Frankfurt Stock Exchange on Friday after its initial public offering. The offering could value Innogy at up to 20 billion euros, or about $22 billion, based on its market capitalization. The I.P.O. is expected to raise as much as €5 billion. Chad Bray

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