Markets have opened in Asia, and exchanges are posting impressive gains. Japan’s Nikkei is already up 1.4%.Economic announcements slow this Friday, with focus likely to remain on earnings announced after Thursday’s closing bell, including American Express, Google, IBM, Intel, and Microsoft. Data points from the U.S., Canada and U.K., will drive markets otherwise.
Here’s what you need to know.
- First up is industrial production in Italy, which fell -1.60% in October. Economists polled by ForexTV see it declining further, potentially off another 2.40% in November.
- Attention will shift to the United Kingdom at 4:30 a.m. EST when retail sales for December are announced. Economists predict sales, excluding auto fuel, will gain 0.70% during the month, reversing a 0.70% decline in November.
- Consumer Prices in Canada are expected to decline two tenths of a percentage point in December, reversing a 0.10% gain in November. The Bank of Canada will make the announcement at 7:00 a.m. EST.
- At 10 a.m. EST, existing home sales will be announced in the U.S. Economists polled by Bloomberg forecast an acceleration of sales by 5.20% to 4.65 million. Last month sales grew by 4.00%.
- Dominant news out of South America come from Argentina, when the Instituto Nacional de Estadística y Censos announces preliminary real gross domestic at 2:00 p.m. EST. The headline figure is expected to increase 7.50% year-on-year.
U.S. corporates reporting quarterly results tomorrow include General Electric. Below, a roundup of tomorrow’s big announcers.
SunTrust Banks (STI): $0.27
General Electric (GE): $0.38
Fifth Third Bancorp (FITB): $0.35
Schlumberger (SLB): $1.09