The Week Ahead: St. Louis stadium hearing, Giving Tuesday, jobs report

A rendering shows a view of the proposed St. Louis football stadium looking toward the south. | Courtesy of HOK
A rendering shows a view of the proposed St. Louis football stadium looking toward the south. | Courtesy of HOK

Here’s a look at some of the stories Missouri Business Alert is tracking this week:

Monday

The holiday shopping promotion barrage continues with Cyber Monday, when online retailers will counter Black Friday and Small Business Saturday with a raft of sales. Online spending for the day is expected to increase 12 percent to $3 billion, Bloomberg reports.

The Missouri House of Representatives will hold a hearing on plans to finance the proposed riverfront football stadium in St. Louis. Tom Flanigan, R-Carthage, who chairs the House budget committee, opposes a plan to pay for the stadium by extending bonds approved in the 1990s to fund the Edward Jones Dome, Missourinet reports.

The Columbia Chamber of Commerce will host a ribbon cutting to celebrate the demolition of America’s Best hotel to make room for the new BMW of Columbia building.

Tuesday

Giving Tuesday, an event that encourages donations to nonprofits as part of holiday and end-of-year giving, will celebrate its fourth year. Prominent organizations backing the global effort include the Bill and Melinda Gates Foundation, the Case Foundation, PayPal and the Huffington Post.

Wednesday

The Federal Reserve Bank is scheduled to release its Beige Book. This report on economic conditions is produced two weeks in advance of Federal Open Market Committee meetings, where the Fed sets its interest rate policy.

Federal Reserve Chair Janet Yellen will speak on the economic outlook to Economic Club of Washington.

Thursday

Monthly sales reports are expected from department stores, drug stores and other chain stores. The numbers are seen as a good barometer of retail sales and consumer spending trends, according to Bloomberg.

The Department of Labor will release its report on jobless claims for the week of Nov. 28. The initial claims for the week are estimated to increase 9,000, to 269,000, from previous 42-year lows.

Friday

The Department of Labor is scheduled to release the Employment Situation for November. It will be the final jobs report before the Dec. 15-16 meeting of the Federal Reserve Bank’s Federal Open Market Committee, where the Fed will decide whether to raise interest rates.

Tarek Robbiati, Sprint’s chief financial officer, is scheduled to speak at the Bank of America Merrill Lynch 2015 Leveraged Finance Conference in Boca Raton, Fla. His talk, which will be delivered at 6:30 a.m. CST, will be available via live Webcast.


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