Wednesday 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 AOL and Northrop Grumman 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.
- China starts the day off with PMI at 8:00 p.m. EST on Tuesday, which is forecast to decline to 49.6 from 50.3. A reading below 50 indicates contraction.
- Thai consumer prices will be announced at 10:30 p.m. EST, with expectations for CPI to increase 0.5 per cent month-on-month, representing a 3.4 per cent appreciation from last year’s levels.
- At 11:00 p.m. EST Indonesian inflation and trade are set for announcement. Exports are seen gaining 3.5 per cent in December, while imports surge 17.4 per cent. Economists polled by Bloomberg see core inflation rising 4.2 per cent from the year ago period.
- United Kingdom housing prices will be released at 2:00 a.m. EST. Prices are seen declining 0.2 per cent in January.
- Six European countries report PMI between 3:00 and 4:00 a.m. EST, including the Czech Republic, Switzerland, Italy, France, Norway, and Germany. Economists polled by Bloomberg see the indexes expanding in Switzerland, Norway, and Italy, to 51.2, 48, and 45.3, respectively, while remaining flat in France and Germany.
- Slightly after those announcements, the European Central Bank will announce regional PMI, which is expected to remain flat at 48.7. U.K. PMI follows at 4:30 a.m. EST, with forecasts for a slight rise to 50 from 49.6.
- In the U.S., announcements on Wednesday include ISM, ADP employment change and mortgage applications, starting at 8:00 a.m. EST. Economists predict that employment will grow by 182,000, a decline from December’s 325,000 rate.
- Meanwhile, ISM manufacturing is seen advancing to 54.5 from 53.1. That will be reported at 10:00 a.m. EST.
- Auto sales will be announced throughout the day, with domestic sales and total sales forecast at seasonally adjusted annual rates of 10.5 million and 13.56 million. Both would represent a gain on December’s sales pace.
U.S. corporates reporting quarterly results on Wednesday include names like Aetna, AOL, Northrop Grumman, and Qualcomm. Below, a roundup of tomorrow’s big announcers.
Manpower (MAN): $0.88
Aetna (AET): $0.97
Whirlpool (WHR): $1.69
NASDAQ OMX Group (NDAQ): $0.62
Franklin Resources (BEN): $2.08
Chipotle Mexican Grill (CMG): $1.83
QUALCOMM (QCOM): $0.90
Las Vegas Sands (LVS): $0.57
Allstate (ALL): $0.98
Electronic Arts (EA): $0.94
Ameriprise Financial (AMP): $1.39
Green Mountain Coffee Roasters (GMCR): $0.36
Fortune Brands Home & Security (FBHS): $0.15
Tesoro (TSO): -$0.50
JDS Uniphase (JDSU): $0.10
Shutterfly (SFLY): $1.15
Northrop Grumman (NOC): $1.67
AOL (AOL): $0.32
Patriot Coal (PCX): -$0.26
Marathon Oil (MRO): $0.83
Consensus estimates provided by Bloomberg.