Here Are The Key Market Moving Events For Friday, February 3, 2012

china, dragon

Photo: Feng Li/ Getty Images

Friday, much like Thursday, is jobs day in the U.S., and markets will be closely following the unemployment announcement out of the Department of labour. Major reports out of China, Europe, and Canada are also on the calendar.Here’s what you need to know.

  • China starts the day off with HSBC’s reading of Services PMI just before midnight EST. The figure last read 52.5, indicating expansion in the sector. 
  • Turkish producer and consumer price indexes will be announced at 3:00 a.m. EST. Economists polled by Bloomberg see consumer prices increasing at a slower pace than in the past, at 0.37 per cent in January.
  • Between 3:15 a.m. and 4:30 a.m. EST, Markit Economics will release Services PMI data for half a dozen E.U. Sovereigns. First up are Spain and Italy. Italian PMI is seen increasing to 45.4, which would nonetheless indicate contraction.
  • PMI in France, Germany and the United Kingdom are all expected to remain above 50. However, the U.K. number is seen declining 70 basis points to 53.3, while France and Germany are flat at 51.7 and 54.5, respectively. The Eurozone as a whole is expected to remain above 50. 
  • Italian CPI is out at 5:00 a.m. EST, with expectations for the headline figure to increase 0.3 per cent month-on-month.
  • At the same time, the central statistics office for the E.U. will announce retail sales for the region. Forecasts have sales increasing during December, but remaining below year-ago levels. 
  • Canada reports unemployment at 7:00 a.m. EST. Economists believe the rate will remain even at 7.5 per cent, but that employment will increase by 22,000. 
  • Then, at 8:30 a.m., the U.S. will announce its unemployment for January. Private payrolls are forecast to increase by 163,000 people, while the jobless rate remains constant at 8.5 per cent.
  • Mexican consumer confidence follows at 9:00 a.m. EST, and is seen increasing to 91.3 from 90.8.
  • Last on the agenda is non-manufacturing ISM in the U.S. and factory orders. ISM is expected to rise to a 53.2 reading, above an upwardly revised 53 in the prior period. Factory orders are forecast to expand by 1.5 per cent in December, slightly below November’s 1.8 per cent growth rate. 

U.S. corporates reporting quarterly results on Friday include names like Clorox and Estee Lauder. Below, a roundup of tomorrow’s big announcers.

Aon (AON): $0.96
Simon Property Group (SPG): $1.90
American Axle & Manufacturing (AXL): $0.39
CBRE Group (CBG): $0.44
Clorox (CLX): $0.69
Beam (BEAM): $0.67
Tyson Foods (TSN): $0.35
Estee Lauder (EL): $1.01

Consensus estimates provided by Bloomberg. 

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