Democratic National Convention held in Chicago

Hello and welcome to the work week.

The next seven days aren’t all about America, just mostly about it. The headlining event will be the Democratic National Convention, which officially opens Monday at Chicago’s United Center, with more than 50,000 people expected to attend over the next few days, including Colleagues at the Financial Times.

The DNC was a choreography to make the Olympic opening ceremony look like Gloucester Cheese Rolling ContestMomentum is building this week. This year, President Joe Biden and former Presidents Barack Obama and Bill Clinton are set to give speeches, and Kamala Harris is set to arrive on Thursday to give her coronation speech.

Since Biden ceded the seat to Harris, the mood within the party has shifted, providing momentum for her to lead Republican rival Donald Trump in key battleground states like Michigan (+1.4 percentage points) and Wisconsin (+0.6 percentage points), The New York Times reported. FT Poll Tracker.

Yet the ghost of the 1968 Chicago Democratic rally still looms over this year’s Democratic National Convention, with the Financial Times’ resident correspondent Claire Bushey explains.

Moreover, pre-election polls must be treated with caution. With so much time left before the results of the November 5 election, these are the only polls that matter. Turmoil in the Middle East, slowing U.S. job growth and voters’ continued concerns about inflation are the most obvious risks facing Harris, but she may also face tougher attacks from the Republican camp and greater scrutiny of her policy plans.

So now one question remains: Can Harris maintain her momentum?

The next stop on the FT news bus this week is a little further west in Jackson Hole, Wyoming, where the Kansas City Federal Reserve will host its annual gathering of central bankers, finance ministers and corporate executives. The 2024 Jackson Hole Economic Symposium opens on Thursday, with Fed chairman Jay Powell taking centre stage, and his speech on Friday will require a reaction to recent poor US jobs data and market volatility.

The economic data releases over the next few days are much quieter than last week, as are company earnings releases. The most noteworthy ones are the interest rate announcement from the Chinese central bank governor, the release of the minutes of the US Federal Open Market Committee rate-setting meeting, and the international comparisons provided by the purchasing managers’ indexes (PMIs) for China, India and the rich Group of Seven countries. Details below.

One more thing…

Thanks to all who wrote in to indicate where you went on holiday this year, or why so few people in your country go on holiday in the summer. Special thanks to those who wrote in from India who touched on the last point.

My colleague Simon Kuper has a Different viewsnoting that a record number of people have fled this year, so please read it and share your thoughts.

As a European/British person, I will put the out-of-office sign on my email and take my family to where my Financial Times story began 25 years ago: New York City. So I will break my cardinal rule of time off and spend a few hours chatting with colleagues in the Manhattan bureau, some of whom have been there since I joined as a technology and telecoms reporter in 1999.

However, The Week Ahead never rests, so while I’m gone, David Hindley and Melody Abike Adebisi will be your guides. Thank you, both of you.

Please continue to post your comments on what’s most pressing, and what I should (and shouldn’t) include. Please email jonathan.moules@ft.com (I promise to read them when I get back) Or, if you’re reading this from your inbox, hit reply.

Important economic and company reports

Here’s a more complete list of this week’s company reports and economic data.

on Monday

• Internet search engine company’s 20th anniversary Google Debuts on the Nasdaq exchange in New York

• German Central BankLaw and Finance, Frankfurt School of Finance and CEPR A two-day conference on financial market regulation was held on the campus of Frankfurt School of Finance and CEPR

• Japan: June machinery orders data

• UK: Rightmove House Price Index for August

• result: Lendlease Group fiscal year, Palo Alto Networks Q4, Plus500 HY, Sankop Fiscal Year

Tuesday

• Takeovers Panel extends deadline Bellevue Either announce a clear offer Crest Nicholson or announces that it does not intend to make an offer

• Canada: July Consumer Price Index (CPI) inflation data

• China: PBOC Loan Market Rate Announcement

• EU: July Harmonized Consumer Price Index (HICP) inflation data

• UK: July bankruptcy statistics

• result: Lowe’s Q2, Medtronic Question 1, Wood Group HY

Wednesday

• Bank of Italy Italian President Fabio Panetta speaks at the Italian Cultural Festival in Rimini on debt sustainability and economic development

• Indonesia: Interest Rate Announcement

• Japan: July trade balance data

• South Africa: July CPI inflation data

• UK: Public sector net borrowing data for July

• US: FOMC minutes released

• result: Agilent Technologies Q3, Alcon Q2, Analog Devices Q3, Costin HY, Mobico HY, Target Q2, Urban Outfitters Q2, Soaring Q2

Thursday

• EU: ECB releases latest monetary policy discussion report

• Eurozone, France, Germany, India, Japan, UK, US: S&P Global/HCOB/HSBC/au Jibun Bank Purchasing Managers Index (PMI) preview data

• South Korea: Interest rate announcement

• Türkiye: Interest rate announcement

• result: Aegon HY, Hayes Financial Year Trading Update, intuition Q4, McFarland HY, Ross Stores Q2, Swiss Re HY, TD Bank Group Third quarter

Friday

• Fed Federal Reserve Chairman Jay Powell plans to speak on the economic outlook at the Jackson Hole Economic Symposium

• France: Business confidence survey in August

• Japan: July CPI inflation data

• EU: ECB consumer expectations survey

• UK: GfK Consumer Confidence Survey

World Events

Finally, here’s a rundown of other events and milestones from the week.

on Monday

• FT and Schroders Business Book of the Year Announcement of the final list

• St. Martin: General elections are called after the coalition government led by Prime Minister Luke Mercelina lost its majority in parliament at 15 seats

• US: Democratic National Convention opens at Chicago’s United Center and runs until Thursday

Tuesday

• UK: Edinburgh TV Festival opens in Scottish capital, runs until Friday

• US: Presidential candidates expected to file financial disclosures to Federal Election Commission last month

Wednesday

• China: The World Robotics Conference opens in Beijing. Also, Fijian Prime Minister Sitiweni Rabuka concludes his visit to the country, seeking to strengthen economic ties with Beijing

Thursday

• UK: GCSE exam results for England, Wales and Northern Ireland are released. Also, nominations for the successor to Scottish Conservative leader Douglas Ross close.

• US: Jackson Hole Economic Policy Symposium opens in Wyoming

Saturday

• Saudi Arabia: Esports Awards, honoring excellence in online gaming

• Ukraine: Independence Day, commemorating the declaration of independence from the Soviet Union in 1991

Sunday

• UK: Notting Hill Carnival, the 58th annual street party and African-Caribbean cultural festival, kicks off in west London