By John Kell
The December payrolls and unemployment rate report is due Friday
next week. Economists surveyed by Dow Jones Newswires expect the
U.S. to report more job growth but at a slower pace than what has
been posted in recent months.
Fourth-quarter earnings season kicks off next week, with
aluminum giant Alcoa Inc. (AA) slated to post its latest
results.
The Federal Trade Commission is planning to unveil a new
initiative against misleading weight-loss product advertisements
next week.
December Unemployment Rate Seen Holding at 7.0%
Though job growth picked up from August through November, with
an average monthly gain of 204,000 compared with a 180,000 pace in
the first seven months of 2013, economists have projected a
slowdown in December. The median forecast calls for a gain of
191,000 nonfarm jobs.
The December jobless rate is forecast to hold at the five-year
low of 7.0% posted in November.
Alcoa Expected to Post Weaker 4th-Quarter Results
Alcoa, typically the first major U.S. company to release
quarterly results, on Thursday is projected to report weaker
fourth-quarter revenue and profit from year-earlier levels,
according to a poll by Thomson Reuters. Alcoa, which was dropped
from the Dow Jones Industrial Average last year, has struggled with
weaker raw aluminum prices in recent years.
Micron Technology Inc. (MU), Container Store Group Inc. (TCS),
Monsanto Co. (MON) and Constellation Brands Inc. (STZ) also are
expected to report their latest quarterly results next week.
FTC to Go After Claims by Weight-Loss Marketers
The Federal Trade Commission is planning to unveil a new
initiative against misleading weight-loss product advertisements
next week. The regulator said it will hold a news conference
Tuesday in which it will detail an initiative against "deceptive
claims made by national marketers of fad weight-loss products."
European Central Bank Seen Keeping Rates on Hold
The European Central Bank is expected to announce no changes to
its current policy Thursday, including no non-standard policies,
although what efforts the central bank can make to help the slowly
recovering euro-zone economy are likely to be discussed at
length.
Among the data due next week: Economic and business confidence
data for the euro zone is forecast to show further improvement in
December. German industrial production and orders data are also due
next week.
Bankruptcy Court to Weigh 'Milestone' Nortel Deal
Nortel Networks Corp. Tuesday will ask the Wilmington, Del.,
bankruptcy court to sign off on what it called a "milestone" in its
long-running liquidation: a settlement with key creditors in a
fight over billions of dollars. In December, Nortel's U.S. unit
reached a deal to resolve a bitter battle over how much it owes its
European creditors and U.K. retirees.
-Jacqueline Palank, Kathleen Madigan and Ilona Billington
contributed to this article.
Write to John Kell at john.kell@wsj.com
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