Here Are The Key Market Moving Events For Friday, March 9, 2012

Home Depot Jobs Economy Worker EmployeeThe Home Depot company announced that it will be hiring 70,000 new seasonal workers as U.S. unemployment claims have fallen to their lowest level in four years.

Photo: Joe Raedle/Getty Images

Friday is jobs day in the U.S., with markets eagerly anticipating February’s employment report. Announcements will flow out of China, the U.K., and France as well.Here’s what you need to know.

  • China starts things off at 10:30 p.m. EST on Thursday evening with a reading of producer prices. Economists predict prices will increase 0.1 per cent against year-ago levels.
  • At 12:30 a.m. EST on Friday morning, February industrial production in China will be released. The key metric is seen advancing 12.5 per cent year-on-year, which is slightly slower than the 12.8 per cent gain last month.
  • Announcements go quiet until a reading of German exports and imports at 2:00 a.m. EST.  Exports are seen increasing 2.0 per cent, reversing a 4.5 per cent decline in December. Meanwhile imports are expected to rise 1.5 per cent during the month. 
  • French manufacturing and industrial output follows at 2:45 a.m. EST. The two points are projected to rise 0.5 per cent month-on-month in January.
  • At 3:00 a.m. EST Spanish retail sales will be released for January. Adjusted real sales are expected to be 5.5 per cent below January 2011 levels.
  • Italian and British production follows at 4:00 and 4:30 a.m. EST, respectively. Production is expected to fall 1.1 per cent in January from December in Italy, while output expands by 0.3 per cent in Britain over the same period. 
  • Attention shifts to North America at 7:00 a.m. EST when Canadian unemployment is announced. Economists surveyed by Bloomberg expect there will be no change in the key rate, remaining at 7.6 per cent in February. Payrolls are expected to increase by 15,000 during the month.
  • Major U.S. announcements kick off at 8:30 a.m. EST, with the February jobs report. Economists expect total nonfarm payrolls to expand by 210,000, with private payrolls up 225,000. The unemployment rate is forecast to remain at 8.3 per cent. 
  • Shortly thereafter, at 10:00 a.m. EST, wholesale inventories in the U.S. will be announced. Economists forecast inventories rising 0.6 per cent in January.
  • Closing out the day is a reading of Argentinian GDP at 3:00 p.m. EST, which is expected to grow at an annual pace of 7.3 per cent during the final quarter of 2011.

Below, the major earnings announcements scheduled for the day.

Halozyme Therapeutics (HALO): -$0.15

Consensus estimate provided by Bloomberg.

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