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Wednesday follows a busy earnings day, with more than two dozen major announcers. At the same time, a series of economic releases will keep markets moving.Here’s what you need to know.
- South Korea starts the day off early with unemployment at 6:00 p.m. EST on Tuesday evening. Economists predict the country’s jobless rate will tick up 10 basis points in January to 3.2 per cent.
- Retail sales in Singapore will be released when the clock strikes midnight. Sales are seen declining 0.1 per cent month-on-month in December. That’s better than a 0.6 per cent drop in November.
- Attention shifts to Europe at 1:30 a.m. EST on Wednesday morning, with a preliminary reading of fourth quarter GDP in France. Economists polled by Bloomberg expect a 0.2 per cent contraction from the third quarter.
- At 2:00 a.m. EST Germany will announce how its economy performed during the fourth quarter. Consensus is for a 0.3 per cent sequential decline.
- Czech fourth quarter gross domestic product follows an hour later, at 3:00 a.m. EST, with expectations for a flat reading.
- Spanish consumer prices will be announced at the same time. The core index is seen declining 1.7 per cent month-on-month in January.
- Italian GDP is set for release at 4:00 a.m. EST, with expectations for a 0.6 per cent quarter-on-quarter contraction during the fourth quarter. That follows a 0.2 per cent fall in the third quarter.
- U.K. unemployment and new jobless claims comes out at 4:30 a.m. EST, with consensus for 3,000 new filers while the jobless rate stays flat at 8.4 per cent. New claims have fallen well below expectations in both November and December.
- Total euro zone gross domestic product follows the individual announcements at 5:00 a.m. EST. Economists see the key indicator declining 0.4 per cent during the final quarter of 2011.
- At 8:30 a.m. EST, Empire Manufacturing will be announced in the U.S., with consensus for an increase to 15 from last month’s 13.48 reading.
- U.S. announcements continue at 9:15 a.m. EST, with industrial production and capacity utilization. Production is expected to rise 0.7 per cent in January, while capacity utilization perks up 50 basis points to 78.6 per cent.
- Closing out the day at 2:00 p.m. EST is the release of the Federal Open Markets Committee minutes from January 24 and 25.
Below, a roundup of tomorrow’s big announcers.
Devon Energy (DVN): $1.48
Cimarex Energy (XEC): $1.31
Dr Pepper Snapple Group (DPS): $0.74
Owens Corning (OC): $0.48
Comcast (CMCSA): $0.42
ACCO Brands (ABD): $0.27
Deere & Co (DE): $1.23
Incyte Corp (INCY): -$0.41
ITT (ITT): $0.36
Abercrombie & Fitch (ANF): $1.17
Clearwire (CLWR): -$0.37
Ancestry.com (ACOM): $0.34
Jarden (JAH): $0.91
Agilent Technologies (A): $0.69
NVIDIA (NVDA): $0.24
Marriott International (MAR): $0.47
Georgia Gulf (GGC): $0.12
Hanesbrands (HBI): $0.51
Energy Transfer Partners (ETP): $0.70
MEMC Electronic Materials (WFR): -$0.08
Tesla Motors (TSLA): -$0.63
Stifel Financial (SF): $0.43
C&J Energy Services (CJES): $0.91
Avis Budget Group (CAR): $0.06
CenturyLink (CTL): $0.61
NetApp (NTAP): $0.58
Terex (TEX): $0.25
Cliffs Natural Resources (CLF): $1.46
Vulcan Materials (VMC): -$0.37
CF Industries Holdings (CF): $6.84
Six Flags Entertainment (SIX): -$0.86
Equinix (EQIX): $0.45
CBS (CBS): $0.53
Consensus estimates provided by Bloomberg.
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