Thursday is jobs day in the U.S., and markets will be closely following the initial claims indicator out of the Department of labour. Aside from that however, few sovereign announcements will leave earnings at the centre of news.Here’s what you need to know.
- Switzerland starts the day off with its trade balance at 2:00 a.m. EST, which is expected to narrow slightly from the previous month’s CHF 2.95 billion reading to CHF 2.5 billion.
- The number of new unemployed Spaniards will follow an hour later, at 3:00 a.m. EST. Economists polled by Bloomberg forecast net unemployment to increase by 127,000.
- At 3:30 a.m. EST Hong Kong retail sales will be announced. The value of purchases is seen growing 20.5 per cent from yea ago levels last December, while volume perks up 15.1 per cent.
- Attention shifts back to Europe at 4:00 a.m. EST, when Norway announces its unemployment rate for January. Economists see the indicator increasing 40 basis points to 2.8 per cent.
- U.K. construction is guided to decline slightly from December’s 53.2 reading, to 52.5 in January. However, a reading above 50 indicates expansion
- At 5:00 a.m. EST, European PPI is set for release. Forecasters see the European Central Bank’s reading of regional producer prices declining 0.1 per cent in December, from a 0.2 per cent expansion in November.
- U.S. economic announcements start slightly earlier than normal, at 7:30 a.m. EST with Challenger Job Cuts. In December, announced job cuts increased 31 per cent year-on-year, although it was the lowest reading since June of 2011.
- Initial claims and nonfarm productivity will be released at 8:30 a.m. EST. Economists polled by Bloomberg expect initial claims will tick down to 371,000, from 377,000 last week. Fourth quarter preliminary nonfarm productivity is seen expand 0.8%.
- Federal Reserve Chairman Ben Bernanke will testify before the House Budget Committee at 10:00 a.m. EST. He will talk about the state of the economy.
U.S. corporates reporting quarterly results on Thursday include names like the New York Times, Viacom, Merck, and Mastercard. Below, a roundup of tomorrow’s big announcers.
National Oilwell Varco (NOV): $1.30
Lear (LEA): $1.17
SunCoke Energy (SXC): $0.30
Beazer Homes USA (BZH): -$0.27
International Paper (IP): $0.61
Starwood Hotels & Resorts Worldwide (HOT): $0.57
New York Times Co. (NYT): $0.41
PulteGroup (PHM): $0.08
Goodrich (GR): $1.57
WABCO Holdings (WBC): $1.17
CME Group (CME): $3.71
Dow Chemical (DOW): $0.31
Cigna (CI): $1.19
Viacom (VIA.B): $1.06
Kellogg (K): $0.63
Gilead Sciences (GILD): $1.05
Sunoco (SUN): -$0.18
Genworth Financial (GNW): $0.19
Take-Two Interactive Software (TTWO): $0.24
Novellus Systems (NVLS): $0.45
Royal Caribbean Cruises (RCL): $0.15
Merck & Co. (MRK): $0.95
Boston Scientific (BSX): $0.08
Mastercard (MA): $3.92
Southern Copper (SCCO): $0.65
Blackstone Group (BX): $0.38
Consensus estimates provided by Bloomberg.