Here Are The Key Market Moving Events For Tuesday, May 22, 2012

Ralph Lauren, Fashion Week, Fashion ShowRalph Lauren will report fourth quarter fiscal 2012 results before the opening bell on Tuesday.

Photo: Mikhail Metzel/ AP

Tuesday follows a relatively slow day of data and earnings in the U.S., with announcements focused in the retail sector. Markets will be looking to unemployment and consumer confidence readings in Europe. Here’s what you need to know.

  • Taiwan starts things off at 8:30 p.m. on Monday evening with April’s unemployment report. Economists forecast the headline figure will remain nearly unchanged, falling to 4.13 per cent. 
  • At 10:00 p.m. the Conference Board’s April Leading Economic Index for China will be released.
  • Announcements go relatively quiet until 2:00 a.m. when Finnish unemployment is announced. Economists project the jobless rate will decline 10 basis points to 8.5 per cent in April.
  • Consumer confidence in Denmark and the Netherlands follows at 3:00 and 3:30 a.m., respectively. There is no consensus for the May reports.
  • Norway’s first quarter GDP report is scheduled for 4:00 a.m. Economists anticipate the economy expanded by 0.9 per cent quarter-on-quarter during the first three months of 2012. That would be an acceleration from the fourth quarter’s 0.5 per cent growth.
  • At 4:30 a.m. the U.K. will release fresh consumer price data, with expectations for CPI to show a 0.6 per cent gain in April from March. 
  • Mexican retail sales hit at 9:00 a.m. Economists anticipate sales grew by 5.5 per cent in March.
  • Attention shifts to the U.S. at 10:00 a.m. with existing home sales and a manufacturing report out of the Richmond Federal Reserve.  Expectations are for sales to increase 3.0 per cent month-on-month to an annualized pace of 4.61 million units, while the manufacturing report logs a 3 point decline to 11 for May.

Below, the major earnings announcements scheduled for the day.

AutoZone (AZO): $6.25
Williams-Sonoma (WSM): $0.32
Medtronic (MDT): $0.98
Best Buy Co (BBY): $0.59
Ralph Lauren (RL): $0.84
Take-Two Interactive (TTWO): -$0.54
Dell (DELL): $0.46
Collective Brands (PSS): $0.44
Guess? (GES): $0.27

Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.

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