US EQUITIES WEEK AHEAD: Aug Jobs Data, Auto, Retail Sales Due

Economists expect the August unemployment rate in the U.S. to rise slightly, to 9.5%. That figure will be released next Friday, a day after major retailers report on August sales and three days after auto makers detail their results for the month.

Eagerly awaited clinical-trial results for heart drugs will be presented at a cardiologists' meeting beginning Saturday.

Among companies reporting quarterly results next week are the nation's two largest tax-preparation firms.

 
   Increase Seen In August Unemployment Rate 
 

The national unemployment rate is expected to rise to 9.5% in August from 9.4% a month earlier, according to a survey of economists. The rate fell unexpectedly in July from 9.5% in June, though economists said that largely reflected a drop in the number of people looking for work. Most experts believe the rate will reach double digits before starting to fall as the economy improves. The government report on August employment will be released next Friday at 8:30 a.m. EDT.

 
   Big Jump Likely In Aug New-Vehicle Sales 
 

New-vehicle sales are expected to increase 18% in August from July in the U.S. on the popular "Cash for Clunkers" government program, but still remain down 6% from a year earlier, according to Edmunds.com. Auto makers will report sales for this month on Tuesday. Thanks to the strong results before the program ended this week, the car-shopping Web site is projecting August U.S. new-vehicle sales of about 1.17 million and a seasonally adjusted annualized rate of slightly more than 13 million, the highest figures by far this year.

 
   August Retail Sales Likely To Top July 
 

Little change is likely when major retailers report their August same-store sales Thursday, though the figures are expected to improve from July, when same-store sales fell 5.1%. The industry has posted weaker year-over-year results since September. Last August's 0.2% gain came just as the bottom started dropping out for retailers.

 
   Heart-Drug Study Results To Be Presented 
 

Eagerly awaited clinical-trial results for heart drugs will be presented at a five-day gathering of cardiologists in Barcelona beginning Saturday.

In one study of about 25,000 patients, researchers tested whether a higher-than-normal dose of blood thinner Plavix was any better than the standard dose at preventing deaths, heart attacks and strokes in some cardiovascular patients. Plavix is the second best-selling drug in the world and is co-marketed by Bristol-Myers Squibb Co. (BMY) and Sanofi-Aventis SA (SNY).

Separately, AstraZeneca PLC (AZN) will present full data for a study comparing its experimental anti-clotting drug Brilinta with Plavix. Astra said in May that Brilinta was superior to Plavix but didn't provide full efficacy and safety data. The company plans to submit the drug for regulatory approval later this year.

Both studies are to be presented Sunday at the European Society of Cardiology annual meeting, and could shed light on the competitive landscape for Eli Lilly & Co.'s (LLY) newly launched blood thinner Effient.

 
   Dip Seen In July Construction Spending 
 

Construction spending likely fell in July, as it did in three other months this year. That data will be released Tuesday, the same day as the month's pending-home-sales index from the National Association of Home Builders. The reading, which measures housing contract activity and is designed to foreshadow existing home sales, increased 3.6% in June to its highest point in two years.

On Wednesday, the government reports on July factory orders and issues a revised figure for second-quarter productivity. The earlier report showed a 6.4% jump in productivity as workers hours were cut faster than output. The Federal Reserve also issues minutes of its August meeting Wednesday.

The Institute for Supply Management reports on manufacturing Tuesday and on the service sector two days later. Reports on regional manufacturing activity are due Monday from Chicago purchasing managers and the Dallas Fed.

 
   Tax-Prep Firms, Home Builder To Report 
 

The nation's two largest tax-preparation companies, H&R Block Inc. (HRB) and Jackson Hewitt Tax Service Inc. (JTX), will post quarterly results next week. Both are expected to report losses as they usually do in quarters following major tax-filing deadlines. H&R reports Friday, a day after Jackson Hewitt.

Also posting results are video-game maker Take-Two Interactive Software Inc. (TTWO), on Tuesday; home builder Hovnanian Enterprises Inc. (HOV) and defense contractor SAIC Inc. (SAI), both Wednesday; and Del Monte Foods Co. (DLM), on Thursday.

 
   Unsolicited Robocalls To Be Illegal 
 

Prerecorded commercial telemarketing calls, known as robocalls, will be illegal starting Tuesday unless the telemarketer has obtained permission in writing from those being called. The new rule prohibits robocalls whether or not consumers previously have done business with the seller. Penalties are up to $16,000 a call.

 
   President To Give Eulogy For Kennedy 
 

President Barack Obama will deliver the eulogy Saturday at the funeral for Sen. Edward Kennedy, D-Mass., who died this week, 15 months after being diagnosed with a brain tumor. Four former presidents also will attend the service. After the Mass on Saturday, Kennedy will be flown to Andrews Air Force Base, where a motorcade will make a symbolic stop at the U.S. Capitol before his burial at Arlington National Cemetery.

 
   Obama To Release Nuclear Security Report 
 

President Obama is scheduled to release Tuesday an unclassified executive summary of a global nuclear security report to Congress on the security of nuclear weapons and nuclear weapon material outside the U.S.

 
   Elections May Change Japan-US Relations 
 

Japan will likely seek greater independence from the U.S., and focus more on its ties with China and the rest of Asia, under new leadership expected to take power after elections Sunday. Polls show the center-left Democratic Party of Japan is expected to trounce the ruling Liberal Democratic Party in lower-house parliamentary elections. During its 50-year history, the LDP has often followed Washington's lead in foreign policy. By contrast, the DPJ says it wants closer ties and more trade agreements with regional neighbors while it seeks a "more equal" relationship with the U.S.

 
   Farm Show To Focus On Prices, Fuel Law 
 

U.S. farmers will gather next week in Decatur, Ill., for the annual Farm Progress Show, an industry trade fair expected to be dominated by falling commodity prices and their effect on incomes amid worsening credit conditions in some parts of the sector. The self-styled "Super Bowl of Agriculture" runs Tuesday through Thursday. The looming renewable-fuel mandate also is likely to be discussed.

 
   Conferences 
 

Among the significant conferences next week are the Lazard Capital Markets MAGIC Retail & Apparel Conference from Sunday to Tuesday in Las Vegas, Morgan Stanley Global Industrials Conference on Tuesday in New York and Merrill Lynch Technology Conference on Wednesday in San Francisco.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; [e-mail]

(Peter Loftus, Doug Cameron and other Dow Jones Newswires staff contributed to this report.)