Tuesday heats up after a slow Monday, with more than a dozen earnings announcements and a slew of economic releases. Data will flow heavily from Europe and the U.S., with little out of Asia.Here’s what you need to know.
- The U.K. starts the day off early with January home prices at 7:01 p.m. EST on Monday evening. Economists predict 17 per cent of home surveyors will note property price declines in January.
- At 1:30 a.m. EST on Tuesday, Indian monthly wholesale prices are seen jumping 6.7 per cent from last January.
- French non-farm payrolls are forecast to contract by 0.2 per cent in the first reading of fourth quarter hiring. That follows a flat reading during the third quarter. The release is set of 2:45 a.m. EST.
- Hungarian consumer prices are set for release at 3:00 a.m. EST, with expectations for a 1.7 per cent month-on-month gain in January, a sharp increase from the 0.2 per cent increase seen in a month earlier.
- Announcements swing back to the U.K. at 4:30 a.m. EST, with consumer prices and retail prices set for release. Economists polled by Bloomberg see CPI declining by 50 basis points in January, while retail prices move 40 basis points lower sequentially.
- Eurozone industrial production will be announced at 5:00 a.m. EST, with consensus for a 1.2 per cent contraction in the region during December.
- A preliminary reading of fourth quarter GDP is set for release at 5:00 a.m. in Portugal. The country’s economy is expected to contract by 1.5 per cent during the period.
- At the same time, the ZEW Financial Market Survey of German economic sentiment will be announced. Economists see optimism improving in February to -11.8, from – 21.6, which was the highest reading since July 2011. A reading below zero indicates pessimism.
- At 7:30 a.m. EST, U.S. small business optimism will be announced. Consensus from economists polled by Bloomberg is for a steady increase to 95 in January from 93.8 in a prior reading. The year 1986 is set to 100.
- U.S. announcements continue at 8:30 a.m. EST, with advanced retail sales and import prices. Retail sales are expected to rise 0.8 per cent in January. At 10:00 a.m., business inventories for December will be released. Consensus is for a 0.5 per cent increase during the final month of 2011.
Below, a roundup of tomorrow’s big announcers.
Host Hotels & Resorts (HST): $0.30
Watson Pharmaceuticals (WPI): $1.76
HCP (HCP): $0.68
Fossil (FOSL): $1.77
Goodyear Tire & Rubber (GT): $0.21
United Therapeutics (UTHR): $0.82
Hospira (HSP): $0.46
Avon Products (AVP): $0.51
FMC Technologies (FTI): $0.51
Taleo (TLEO): $0.23
MetLife (MET): $1.24
American Capital (ACAS): $0.20
Zynga (ZNGA): $0.03
Weight Watchers International (WTW): $0.86
BorgWarner (BWA): $1.17
Consensus estimates provided by Bloomberg.