Here Are The Key Market Moving Events For Friday, January 27, 2012

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Friday closes out a busy earnings week, after more than 20% of the S&P 500 in the U.S. reported quarterly results.But more than just earnings, Friday is filled with a series of important macro announcements, including Japan, Finland, Germany, and the U.S. 

Here’s what you need to know.

  • Japan has already kicked off the day, announcing an increase in retail sales, above expectations. The year-on-year reading showed growth of 2.5% against last month’s 2.2% decline. 
  • Continuing in Japan, the country’s Consumer Price Index fell 0.4% versus forecasts for a 0.3% decline by economists polled by ForexTV.
  • At 2:00 a.m. EST, Finland will announce business and consumer confidence. Economists polled by Bloomberg see the business reading to remain flat at -10, but for consumer confidence to increase to 1.7 from 0.4. 
  • At the same time, Germany is scheduled to release import prices for December. Economists see prices increasing 0.3%, after a 0.4% monthly gain in November.
  • Attention then shifts to Sweden and Spain for retail sales. Forecasts are for both countries to report declines. Economists polled by Bloomberg see the Swedish and Spanish sales rates hitting -0.5% (mum) and -5.9% (YOY), respectively. 
  • Mario Draghi, president of the European Central Bank, is scheduled to speak at 8:15 a.m. EST.
  • Ending the day are a series of announcements from the U.S., including gross domestic product, personal consumption and University of Michigan consumer confidence. At 8:30 a.m. EST, annualized GDP will be released. Economists polled by Bloomberg expect the economy to expand by 3.0% during the fourth quarter. 
  • Personal consumption in the U.S. is seen accelerating to 2.4%, from 1.7% growth in the third quarter.
  • Closing the week is the 9:55 a.m. EST release of U. Michigan confidence. Expectations are for the metric to remain flat at 74. 

U.S. corporates reporting quarterly results on Friday include Altria, Chevron, Ford, and Honeywell. Below, a roundup of tomorrow’s big announcers.

Honeywell International (HON): $1.04
Newell Rubbermaid (NWL): $0.38
Ford Motor (F): $0.26
Legg Mason (LM): $0.30
Altria Group (MO): $0.49
Dominion Resources (D): $0.65
T Rowe Price (TROW): $0.69
Procter & Gamble (PG): $1.08
Chevron (CVX): $2.90

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