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Monday opens up a busy few days, although few corporates will release at the start of the trading week. However, that rapidly changes as the days progress and nearly 20% of S&P 500 listed companies announce quarterly results.But more than just earnings, Monday is filled with a series of important macro announcements, including reports out of Japan, Italy, Germany, and the U.S.
Here’s what you need to know.
- The Philippines start the day off with fourth quarter GDP. Economists expect the nation to see an annualized rate of 3.80%, which would represent an acceleration from the third quarter.
- At 3:00 a.m. EST Taiwan will announce unemployment, which is seen roughly flat at 4.33%.
- Attention then shifts to Europe, where at the same time, Slovakia and Spain will announce consumer confidence and GDP, respectively. Slovakian confidence last stood at -40.8. A reading below zero represents negative expectations. In Spain, the economy is expected to contract 0.2% quarter-on-quarter.
- Italy takes centre stage at 4:00 a.m. EST, when it announces business confidence. Expectations are for the headline indicator to decline 20 basis points to 92.3.
- At 5:00 a.m. the European Central Bank will report its own confidence readings for a variety of sectors. Expectations are for consumer confidence in the region to remain flat at -20.6, while business conditions improve marginally to -0.25 from -0.31.
- Economic announcements move to Latin America for the next several hours, when Chile and Brazil release data. Brazilian inflation is expected to rise to 0.3%, from a negative reading in December. Chile will announce industrial production at 7:00 a.m. EST, with economists forecasting a rise, albeit at a lower pace. The headline figure is forecast at 1.2%.
- The United States releases personal income and spending at 8:30 a.m. EST. Economists polled by Bloomberg see incomes expanding by 0.4%, with spending increasing 0.1%.
- Then, at 10:30 a.m. EST, the Dallas Federal Reserve will announce manufacturing activity in the region, which covers Texas, northern Louisiana and southern New Mexico. The reading is expected to rise to zero, from -3 in December.
- Closing out the day are relatively early announcements in Asia, which can still impact after-hours trading in the U.S. At 4:00 p.m. EST South Korea will report industrial production. Economists see production surging 1.1% in December, from a -0.4% reading a period earlier. Then, at 4:30 p.m. EST, Japan will announce its jobless rate, which is expected to remain flat at 4.5%, followed by industrial production 20 minutes later, which is seen reversing a decline last month and growing 2.9% in January.
U.S. corporates reporting quarterly results on Monday include Gannett and Wendy’s. Below, a roundup of tomorrow’s big announcers.
Wendy’s (WEN): $0.04
Gannett (GCI): $0.69
McKesson (MCK): $1.38