The Democratic Nationwide Conference hits Chicago

Good day and welcome to the working week.

The subsequent seven days usually are not all concerning the US, simply largely. The headline act would be the Democratic Nationwide Conference, which formally kicks off on the United Heart in Chicago on Monday with greater than 50,000 folks anticipated to attend over the following couple of days, together with FT colleagues.

The DNC is an act of choreography to make an Olympic opening ceremony appear to be the Gloucester cheese-rolling contest, with momentum steadily constructing over the week. This 12 months will characteristic speeches by President Joe Biden, then former presidents Barack Obama and Invoice Clinton earlier than the arrival on Thursday of Kamala Harris for her coronation tackle.

Since Biden stepped apart to permit Harris to take the nomination, the get together temper has been remodeled, offering a momentum that has enabled her to tug forward of Republican rival Donald Trump within the crucial battleground states of Michigan (+1.4 factors) and Wisconsin (+0.6 factors), based on the (free to view) FT ballot tracker.

The ghost of the 1968 Democratic gathering in Chicago has hung over this 12 months’s DNC, nonetheless, because the FT’s lady on the bottom Claire Bushey explains.

Furthermore, pre-election polls should be handled with warning. There may be nonetheless a protracted method to go till the election itself on November 5, the one ballot that counts. Turmoil within the Center East, a slowdown in US jobs development and protracted voter considerations about inflation are the obvious dangers Harris faces, however she will additionally count on sharper assaults from the Republican camp and better scrutiny of her coverage plans.

So for now one query stays: can Harris keep her momentum?

The subsequent cease for the FT information bus this week is somewhat additional west at Jackson Gap, Wyoming, venue for the annual gathering of central bankers, finance ministers and enterprise executives hosted by the Federal Reserve Financial institution of Kansas Metropolis. The 2024 Jackson Gap Financial Symposium begins on Thursday and the headline act shall be Federal Reserve chair Jay Powell, whose speech on Friday might want to react to current poor US jobs knowledge and market volatility.

The financial knowledge run is way quieter over the subsequent few days than final week, as is the schedule for firm outcomes. Most noteworthy shall be an rate of interest announcement by China’s central bankers, the publication of minutes from the Federal Open Market Committee rate-setting assembly and the worldwide comparisons offered by the buying managers’ index (PMI) comparisons between China, India and G7 wealthy nations. Extra particulars under.

Another factor . . . 

Thanks to all who’ve written in to level out both the place you’re on vacation this 12 months, or why few folks in your nation are taking a break over the summer time. Thanks notably to these writing from India on that final level.

My colleague Simon Kuper has a totally different take, pointing to file numbers getting away this 12 months, so please learn it and share your ideas.

Being European/British, I’m placing the out of workplace signal on my e-mail, taking my household to the place the place my FT story started 25 years in the past: New York Metropolis. I’ll subsequently break the cardinal rule on holidays and spend just a few hours catching up with colleagues within the Manhattan bureau, a few of whom have been there once I joined as a tech and telecoms reporter in 1999.

The Week Forward by no means rests, nonetheless, so David Hindley and Melody Abike Adebisi shall be your guides whereas I’m away. Thanks each.

Hold your feedback coming about probably the most urgent objects for you and what I ought to (and shouldn’t) be together with. Electronic mail me at jonathan.moules@ft.com (I promise to learn them on my return) or, if you’re studying this out of your inbox, hit reply.

Key financial and firm stories

Here’s a extra full record of what to anticipate when it comes to firm stories and financial knowledge this week.

Monday

• Twentieth anniversary of web search engine firm Google debuting on New York’s Nasdaq alternate

• Deutsche Bundesbank, Foundations of Legislation and Finance, Frankfurt Faculty of Finance & Administration and CEPR two-day convention on regulating monetary markets begins on the Frankfurt Faculty of Finance and Administration campus

• Japan: June machine orders knowledge

• UK: Rightmove August Home Worth Index

• Outcomes: Lendlease FY, Palo Alto Networks This fall, Plus500 HY, Suncorp FY

Tuesday

• Takeover Panel prolonged deadline for Bellway to both announce a agency intention to make a suggestion for Crest Nicholson or announce that it doesn’t intend to make a suggestion

• Canada: July shopper worth index (CPI) inflation price knowledge

• China: Folks’s Financial institution of China mortgage prime price announcement

• EU: July harmonised index of shopper costs (HICP) inflation price knowledge

• UK: July insolvency statistics

• Outcomes: Lowe’s Q2, Medtronic Q1, Wooden Group HY

Wednesday

• Financial institution of Italy Governor Fabio Panetta speaks at Italian cultural competition, the Rimini Assembly, on debt sustainability and financial improvement

• Indonesia: rate of interest announcement

• Japan: July commerce steadiness figures

• South Africa: July CPI inflation price knowledge

• UK: July public sector web borrowing figures

• US: Federal Open Market Committee assembly minutes revealed

• Outcomes: Agilent Applied sciences Q3, Alcon Q2, Analog Gadgets Q3, Costain HY, Mobico HY, Goal Q2, City Outfitters Q2, Zoom Q2

Thursday

• EU: European Central Financial institution publishes the accounts of its final financial coverage discussions

• Eurozone, France, Germany, India, Japan, UK, US: S&P International/HCOB/HSBC/au Jibun Financial institution flash buying managers’ index (PMI) knowledge

• South Korea: rate of interest announcement

• Turkey: rate of interest announcement

• Outcomes: Aegon HY, Hays FY buying and selling replace, Intuit This fall, MacFarlane HY, Ross Shops Q2, Swiss Re HY, TD Financial institution Group Q3

Friday

• Federal Reserve chair Jay Powell is scheduled to ship remarks on the financial outlook on the Jackson Gap Financial Symposium

• France: August enterprise confidence survey

• Japan: July CPI inflation price knowledge

• EU: ECB Shopper Expectations Survey

• UK: GfK Shopper Confidence Survey

World occasions

Lastly, here’s a rundown of different occasions and milestones this week.

Monday

• FT and Schroders Enterprise Ebook of the Yr lengthy record introduced

• Sint Maarten: normal election, referred to as after the coalition authorities led by Prime Minister Luc Mercelina misplaced its majority within the 15-seat parliament

• US: The Democratic Nationwide Conference opens within the United Heart, Chicago, operating till Thursday

Tuesday

• UK: Edinburgh Tv Pageant begins within the Scottish capital, operating till Friday

• US: presidential candidates anticipated to file monetary disclosures to the Federal Election Fee masking the earlier month

Wednesday

• China: World Robotic Convention begins in Beijing. Additionally, Fiji Prime Minister Sitiveni Rabuka completes a go to to the nation, searching for to extend financial ties with Beijing

Thursday

• UK: outcomes revealed for GCSEs in England, Wales and Northern Eire. Additionally, nominations shut for poll to interchange Douglas Ross because the Scottish Conservative chief

• US: Jackson Gap Financial Coverage Symposium begins in Wyoming

Saturday

• Saudi Arabia: eSports Awards, recognising excellence in on-line gaming

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

Sunday

• UK: Notting Hill Carnival, 58th annual road get together and African Caribbean cultural competition, begins in west London