News Week Ahead

 August 23 (Monday) 

Nuvoco to list: The IPO of Nuvoco, part of the Nirma Group, is scheduled to list on August 23. Nuvoco is one of the leading cement companies and concrete manufacturers in India.

Japan PMIs Flash (August): Where do the preliminary PMI figures for August settle for Japan? The au Jibun Bank Japan Manufacturing PMI stood revised higher to 53 in July, up from a preliminary estimate of 52.2 and a final 52.4 in June. Both output and new orders grew at a faster clip as jobs rose for the fourth month running.

While services PMI came in at 47.4 in July, as against a preliminary estimate of 46.4 and a final 48.0 seen in June, the Composite PMI print read 48.8, compared with a flash figure of 47.7 and a final 48.9 in June. A figure above 50 marks expansion and one below contraction.

August 24 (Tuesday) 

Aptus Value Housing Finance IPO listing: The public offer of retail-focussed housing finance company Aptus Value Housing Finance India is getting ready for market listing, days after its over subscription. The listing of shares is slated for August 24.

US New Home Sales (July): Sales of new single family houses in the US dropped 6.6 percent to a seasonally adjusted annual rate of 6,76,000 in June, the third straight decline and the lowest level since April last year. It's the high prices due to rising material costs that hit buyers' affordability. The July set of numbers is awaited.

August 25 (Wednesday) 

EIA Crude Oil Stocks Change (as of August 20): Amid moderating crude oil prices, where do the US crude oil inventories stand? The stock fell by 3.23 million barrels in the August 13th week against market consensus of a 1.05 million drop, according to the EIA Petroleum Status Report.

August 26 (Thursday) 

Jackson Hole Economic Symposium: High on the investors' radar is the upcoming economic summit at Jackson Hole which will see central bankers, economists and other policymakers deliberate on the pressing economic issues confronting the world today. Will it cast more light on the whole issue of tapering of the easy money policy by the US Fed? Keep a watch.

US Initial Jobless Claims (as of August 21): What is the job scene in the US as the COVID stress is still playing out in the economy? The number of Americans filing new claims for unemployment benefits moderated for the fourth straight period. It hit a new pandemic low of 3,48,000 in the week ending August 14, signalling an improving US labour market. This came amid efforts to contain rising coronavirus cases and the spread of the Delta variant. The jobs data as of August 21 are due.

August 27 (Friday) 

India credit growth (as of August 13): The value of outstanding loans in India increased 6.1 percent annually in the fortnight ending July 30. The value of deposits went up 9.8 percent year-on-year during the same period. The next set of numbers for the period till August 13 is on the cards.