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Markets will have plenty to digest on Wednesday as a flurry of earnings and data releases hit the street. Already, President Obama has promised in the State of the Union a new group that will aggressively go after financial fraud — financial services will have early morning trading to react.
Here’s what you need to know.
- Spain will kick off the day with producer prices. Economists polled by Bloomberg see the index declining 10 basis points for December, reversing a 0.20% increase in November.
- European markets will be focused on Germany, which at 4:00 a.m. EST announces the Ifo Business Climate. Economists believe the composite index, which measures both the current landscape along with expectations over the next six months, will increase to 107.6 from 107.2.
- At the same time, Italy will report retail sales. Economists see sales declining 0.10% in November, reversing a 0.20% rise in October.
- U.K. GDP will be announced at 4:30 a.m. EST, with forecasts for the economy to contract by 0.10%, after a 0.6% rise in the third quarter. The Bank of England will release its Monetary Policy Meeting Minutes along with results.
- At 8:15 a.m. EST, Mario Draghi, President of the European Central Bank, will speak to reporters about the state of Europe as well as what the central bank sees as far as inflation.
- Major U.S. announcements are scheduled for 10:00 a.m. EST, with pending home sales and mass layoffs on the docket. Economists polled by Bloomberg see home sales declining 1.00%, against a 7.00% gain last month.
- Lastly, a rate decision from the Federal Open Markets Committee is scheduled at 12:30 p.m. EST, although no change in policy is expected.
U.S. corporates reporting quarterly results on Wednesday include Boeing, United Technologies, Delta and ConocoPhillips. Below, a roundup of tomorrow’s big announcers.
Abbott Laboratories (ABT): $1.44
MeadWestvaco (MWV): $0.26
Hudson City Bancorp (HCBK): $0.15
Automatic Data Processing (ADP): $0.68
Praxair (PX): $1.37
Swift Transportation (SWFT): $0.24
United Technologies (UTX): $1.46
Corning (GLW): $0.32
WellPoint (WLP): $1.11
Motorola Solutions (MSI): $0.81
Xerox (XRX): $0.33
Southern Co (SO): $0.30
Boeing (BA): $1.01
ConocoPhillips (COP): $1.89
Netflix (NFLX): $0.54
Citrix Systems (CTXS): $0.76
Owens-Illinois (OI): $0.47
Symantec (SYMC): $0.41
Stanley Black & Decker (SWK): $1.29
E*Trade Financial (ETFC): $0.20
SanDisk (SNDK): $1.26
Delta Air Lines (DAL): $0.38
Lam Research (LRCX): $0.30
General Dynamics (GD): $1.99
Hess (HES): $1.30
Exelon (EXC): $0.89
Occidental Petroleum (OXY): $1.97
US Airways Group (LCC): $0.03