Here Are The Key Market Moving Events For Tuesday, January 31, 2012

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Tuesday will be a busy day for the markets, as a number of major corporates report quarterly results and a flood of economic announcements hit the street.On the earnings side, companies including and Exxon Mobil will release how they did over the previous three months. Sovereigns like France, the U.K., U.S. and Germany will also add to the mix.

Here’s what you need to know.

  • Japan starts the day off with housing starts, which are forecast to be 1.5 per cent below year-ago levels. However, annualized starts are seen growing by 3,000 units from November’s 845,000 pace.
  • At 2:00 a.m. EST Germany will announce its first economic report of the day: retail sales. Economists predict that the resilient country will see sales improve 0.8 per cent month-on-month, reversing a 1.0 per cent decline in November.
  • France will release producer prices and consumer spending at 2:45 a.m. EST. Producer prices are seen declining 0.1 per cent in December, while spending jumps 0.2 per cent month-on-month.
  • Slightly after the announcements out of France, Hungary and Spain will report unemployment and CPI, respectively. Hungarian unemployment is seen increasing 10 basis points to 10.7 per cent, while Spanish CPI is forecast to slow to an annualized rate of 2.3 per cent from December’s 2.4 per cent reading.
  • Attention shifts back to Germany at 3:55 a.m. EST, when the country announces changes to the unemployment rate. The headline indicator is seen flat at 6.8 per cent, while 10,000 fewer Germans are jobless.
  • Italy takes centre stage at 4:00 a.m. EST, when it too announces its jobless rate. Expectations are for the figure to increase 10 basis points to 8.7 per cent. An hour later, the European Central Bank will report unemployment for the full region, with forecasts for the jobless rate to tick up to 10.4 per cent.
  • At 4:30 a.m. EST, net individual lending in the U.K. will be released. ForexTV forecasts show credit expanding by £1.2 billion from a £1.0 billion increase in November. 
  • Economic announcements move to Latin America for the next several hours, when Chile and Brazil release data. Brazilian industrial production is seen increasing 1.0 per cent month-on-month, accelerating from a 0.3 per cent growth in November. Chile will release unemployment data at 7:00 a.m. EST, with economists forecasting a flat reading at 7.1 per cent.
  • Canadian monthly GDP will be announced at 8:30 a.m. EST, with expectations for 0.2 per cent growth in November from a flat reading in the prior month.
  • The Case Shiller housing index will be released at 9:00 a.m. EST. Economists polled by Bloomberg see pricing in the 20 city U.S. composite index declining by 0.4 per cent month-on-month. U.S. consumer confidence is set for release at 10 a.m. EST, with expectations for the key index to increase to 68 from 64.5.
  • 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 Korean consumer prices will be reported, with estimates calling for a 0.6 per cent increase in January. HSBC Manufacturer PMI follows later in the day; economists will be looking for an increase from last month’s 46.4 reading.

U.S. corporates reporting quarterly results on Tuesday include names like Exxon Mobil, and Pfizer. Below, a roundup of tomorrow’s big announcers.

McGraw-Hill (MHP): $0.56
Eli Lilly & Co (LLY): $0.81
Archer-Daniels-Midland (ADM): $0.76
L-3 Communications (LLL): $2.41
CIT Group (CIT): $0.04
Exxon Mobil (XOM): $1.98
Entergy (ETR): $0.89
Mattel (MAT): $1.00
United Parcel Service (UPS): $1.25
Boston Properties (BXP): $1.19
Dolby Laboratories (DLB): $0.69 (AMZN): $0.16
Aflac (AFL): $1.51
Broadcom (BRCM): $0.65
Valero Energy (VLO): -$0.11
Pfizer (PFE): $0.47
United States Steel (X): -$0.85

Consensus estimates provided by Bloomberg.