Tuesday continues a busy earnings week, while data streams out of Asia and Europe. Nonetheless it will be a relatively quiet day, as Coca-Cola and Walt Disney report. There are no major economic reports scheduled for release in the U.S., although December consumer credit will be announced.Here’s what you need to know.
- The U.K. starts the day off early with retail sales at 7:01 p.m. EST on Monday evening. Sales are seen declining 0.8 per cent in January, after a 2.2 per cent gain the month before.
- Philippine CPI will be announced at 8:00 p.m. EST, with expectations for the index to show 0.5 per cent increases in December.
- Czech unemployment is out at 3:00 a.m. EST, with economists polled by Bloomberg expecting the jobless rate to jump 50 basis points to 9.1 per cent for January.
- At the same time, industrial production for both Hungary and Denmark will be announced. Output is seen expanding by 9.3 per cent year-on-year in Hungary, while Denmark sees 0.3 per cent growth sequentially for December. Also at 3:00 a.m. EST, Taiwan will announce total exports for January. Exports are seen falling 17.0 per cent from year ago levels.
- Industrial production continues to roll out over the next several hours in Europe. At 4:00 a.m. EST Norway is expected to announce production grew by a slower rate than in November, at 0.1 per cent. Estimates are not yet available for Portugal production, which last grew by 0.5 per cent.
- Europe’s largest economy, Germany, will announce industrial production at 6:00 a.m. EST. The country is expected to see a reversal in production, with no growth in December after a 0.6 per cent contraction in November.
- At 8:30 a.m. EST, North American gets into the fray when Canada announces new building permits. Permits are expected to increase 1.0 per cent in December, after a 3.6 per cent decline in November.
- U.S. announcements start at 10:00 a.m. EST., with JOLTs Job Openings and economic sentiment. Job openings are seen expanding to 3.25 million from 3.16 million. Meanwhile, optimism as measured by Investor’s Business Daily is seen jumping to 48.6 from 47.5. A level below 50 indicates pessimism.
- Federal Reserve chairman Ben Bernanke will testify at 10:00 a.m. EST on the state of the economy. Find coverage of his testimony live on Money Game.
- Last on the agenda is consumer credit in the U.S. at 3:00 p.m. EST. Economists polled by Bloomberg see credit expanding by $7 billion, a decline from last month’s surprise $20.3 billion jump.
U.S. corporates reporting quarterly results on Tuesday include names like Coca-Cola and Walt Disney. Below, a roundup of tomorrow’s big announcers.
Coca-Cola (KO): $0.77
AGCO (AGCO): $1.33
Western Union (WU): $0.40
CBRE Group (CBG): $0.44
Walt Disney (DIS): $0.71
DuPont Fabros Technology (DFT): $0.37
OpenTable (OPEN): $0.30
Panera Bread (PNRA): $1.42
Ralcorp Holdings (RAH): $1.35
Hartford Financial Services Group (HIG): $0.60
Consensus estimates provided by Bloomberg.