The U.S. economy added a net 163,000 net nonfarm payrolls in July, according to the Bureau of Labor Statistics, far more than market expectations for a gain of 100,000 and well above June's revised figure of 64,000.
As earnings season quiets down next week, Walt Disney Co. (DIS) and Macy's Inc. (M) are among the recognizable names due to report their latest results. read more comapnies Earning Report week August 6-10 2012
A handful of companies are also scheduled to go public next week. U.K. soccer club Manchester United's debut will make it the first sports teams to go public in the U.S. in a long time.
On Wednesday, Eastman Kodak Co. (EKDKQ) will auction off more than 1,000 of its lucrative imaging patents, which are worth as much as $2.6 billion.
Investors next week will have one eye on China's monthly data deluge and another on auctions of "safe" U.S. and German 10-year government bonds. However, uppermost in their minds will be the ECB's step toward both government bond-buying that may be a turning point in the euro saga and launching quantitative easing in Europe to match the United States, Britain and Japan.
What's more, China's release of inflation, production, credit and trade data for July next week - particularly if that picture is very weak - could well prompt monetary easing there too that links up with Western policy initiatives as speculation rises about a concerted response to what is now a worldwide slowdown.
To complete the G7 view, the Bank of Japan meets next week too and the Bank of England issues its centrepiece inflation report.
Manchester United Scheduled to Debut
English soccer club Manchester United's shares are expected to begin trading on the New York Stock Exchange late next week. The company is aiming to sell 16.7 million shares in its initial public offering at a price between $16 to $20 each. The shares are set to price Thursday.
Manchester United, one of the most successful teams in professional soccer, would be the first sports teams to go public in the U.S. in quite some time. The last team to do so was the Cleveland Indians Baseball Co., which launched in 1998, according to data tracker Dealogic, and was later taken private.
Manchester called off plans for a $1 billion initial public offering in Singapore last year amid volatile markets. read Manchester United IPO stock Prices
Other companies expected to debut next week include restaurant operators Bloomin' Brands Inc. and CKE Inc. and recovery services provider Performant Financial Corp.
Kodak Prepares for Patent Auction
Eastman Kodak Co. (EKDKQ) next week will put more than 1,000 of its lucrative imaging patents on the auction block, a sale the company's creditors are counting on for payment.
The imaging company is seeking to keep the auction process confidential, but The Wall Street Journal reported that Apple Inc. (AAPL), Microsoft Corp. (MSFT), Google Inc. (GOOG) and Samsung Electronics Co. (005930.SE) are among the giant technology companies that are vying for the patents.
Worth as much as $2.6 billion, the patents cover the technology used in digital cameras, smartphones and tablet computers to capture, transmit, manipulate and store images. According to Kodak, it has been able to earn more than $3 billion over the past decade by licensing the patents.
The patent auction is slated for Wednesday, but Kodak will head to the Manhattan bankruptcy court Monday to seek approval of a bonus plan for executives and managers. Read Kodak Patent Auction
Trade Balance, Import Price Data Due
Data on the June U.S. trade deficit and July import prices are among the economic reports on tap next week.
The U.S. trade gap narrowed for the second straight month in May, as exports picked up and falling oil prices helped drive down imports. Meanwhile, the cost of goods imported into the U.S. posted the largest decline in more than three years in June, also reflecting the continued fall of oil prices.
Conferences
Among the significant conferences next week are Jefferies Group Inc.'s Global Industrial and Aerospace & Defense Conference Tuesday through Thursday in New York, the Credit Suisse Industrials Conference on Tuesday and Wednesday in New York, and Tudor Pickering's Hotter 'N Hell Energy Conference Wednesday and Thursday in Houston.
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