By John Kell
A handful of retailers are due to report their fiscal
third-quarter results next week, and observers will also be on the
lookout for any commentary about holiday traffic and sales
trends.
Next week, the Senate Banking Committee plans to vote on Janet
Yellen's nomination to be the next leader of the Federal
Reserve.
Jefferson County, Ala., is planning a $1.7 billion debt sale
next week, challenging the market maxim that a bankruptcy filing
leaves a permanent stain on municipal-bond issuers.
Retailers to Report Latest Quarterly Results
Home-improvement retailers Home Depot Inc. (HD) and Lowe's Cos.
(LOW), office-supplies giant Staples Inc. (SPLS), electronics
purveyor Best Buy Co. (BBY) and a handful of other retailers are
due to release their latest quarterly results next week.
While quarterly reports are always closely followed, investors
will also focus on any commentary about the key holiday season.
Details about traffic trends, promotions, inventory management and
any peak into sales trends will be especially important.
A number of mall-based retailers have been stung by weak traffic
and muted sales in recent months, as consumers remain cautious
about spending.
Senate Committee Could Vote on Yellen Next Week
The Senate Banking Committee plans to vote on Janet Yellen's
nomination to be the next leader of the Federal Reserve. The panel,
which has jurisdiction over Fed nominees, held a confirmation
hearing with Ms. Yellen Thursday. Ms. Yellen is expected to then
win confirmation from the full Senate, though some Republicans are
likely to vote against her.
Nokia Windows Tablet to Debut in U.S.
Nokia Corp. (NOK, NOK1V.HE), moving to expand its product
portfolio in the days leading up to the sale of its mobile device
business to Microsoft Corp. (MSFT), will offer its first
Windows-based mobile tablet for as little as $199 in the U.S.
through AT&T Inc. (T) starting next week.
Nokia, once the dominant player in the global mobile device
business, has fallen behind competitors like Samsung Electronics
Co. (SSNHZ, 005930.SE) and Apple Inc. (AAPL) in recent years.
Bankrupt Jefferson County to Sell New Debt
Jefferson County, Ala., is planning a $1.7 billion debt sale
next week, challenging the market maxim that a bankruptcy filing
leaves a permanent stain on municipal-bond issuers. The planned
offering of sewer-system securities is causing a rift among
credit-rating firms and leaving many investors confused over
whether the county, which filed for bankruptcy in November 2011 and
is in arrears on $3.1 billion of existing sewer debt, is a safe
investment now.
France Readies for First Bond Auction Since Ratings Cut
France next week returns to bond markets for the first time
since it was downgraded by Standard & Poor's Ratings Services,
although the European Central Bank's plan to keep interest rates
low for an extended period should help to neutralize upward
pressure on the country's funding costs.
South Africa Union to Vote on Platinum Strike
South Africa's biggest platinum mining companies could be hit by
strikes in the coming weeks as unions and companies negotiate new
wage agreements. The Association of Mineworkers and Construction
Union intends to meet next week with workers at the world's largest
platinum producer, Anglo American Platinum Ltd. (AMS.JO, AGPPY), to
vote on a strike.
Task Force Set to Disclose List of Art Looted by Nazis
A German government task force looking into the discovery of a
cache of lost art discovered in Munich will release a list of 590
works it believes may have been looted by the Nazis. The disclosure
is expected to begin next week. A total of 1,400 works were
discovered.
--Devon Maylie, John Stoll, Michael Corkery and Emese Bartha
contributed to this report
Write to John Kell at john.kell@wsj.com