Here Are The Key Market Moving Events For Wednesday, April 25, 2012

Construction Manufacturing Equipment Tractor BuildingHundreds of lots of construction equipment line up ready for auction at the UK’s biggest ever construction plant sale. A reading of British GDP is scheduled for Wednesday.

Photo: Christopher Furlong/Getty Images

The earnings heat continues on Wednesday when a slew of major reporters release quarterly results, including Boeing, Caterpillar, Delta, and Sprint. Macro data is a little lighter than on Tuesday, but key readings of GDP in the U.K. and durable goods in the U.S. will drive markets. Here’s what you need to know.

  • South Korea starts things off at 7:00 p.m. on Tuesday evening with a reading of consumer confidence, which last stood at 101. There is no consensus for the April report.
  • At 1:00 a.m. on Wednesday morning, small business confidence in Japan will be released. Confidence last registered at 48.7.
  • Spanish producer prices follow at 3:00 a.m. Prices last showed a 0.6 per cent increase.
  • Polish unemployment and retail sales hit at 4:00 a.m. The headline unemployment figure is seen declining 10 basis points in March to 13.4 per cent, while retail sales surge 15.4 per cent month-on-month.
  • A reading of British GDP is expected at 4:30 a.m. Economists forecast that the economy expanded by 0.1 per cent during the first quarter, reversing the 0.3 per cent contraction at the end of 2011. If the economy contracts for a second consecutive quarter, it would indicate recession in the country.
  • Announcements continue in the U.K. at 6:00 a.m. with the Confederation of British Industry’s Business Optimism Index. Consensus is for the index to improve in April to -18 from -25.
  • Attention shifts to the U.S. at 8:30 a.m. with the durable goods report. Expectations are for the headline figure to show a 1.7 per cent decline. Excluding transports, orders are seen advancing 0.5 per cent.
  • Closing out the day at 12:30 p.m. is a policy decision from the Federal Open Market Committee on rates. Economists forecast the key rate will remain unchanged at 0.25 per cent.

Below, the major earnings announcements scheduled for the day.

Virgin Media (VMED): $0.06
Owens Corning (OC): $0.30
Dr Pepper Snapple Group (DPS): $0.48
Six Flags Entertainment (SIX): -$1.62
National Oilwell Varco (NOV): $1.40
Harley-Davidson (HOG): $0.72
Human Genome Sciences (HGSI): -$0.40
MeadWestvaco (MWV): $0.24
Corning (GLW): $0.29
General Dynamics (GD): $1.69
NASDAQ OMX Group (NDAQ): $0.63
Motorola Solutions (MSI): $0.54
Sprint Nextel (S): -$0.40
Southern Co (SO): $0.47
Caterpillar (CAT): $2.13
Boeing (BA): $0.93
Crocs (CROX): $0.26
Las Vegas Sands (LVS): $0.60
Raymond James Financial (RJF): $0.57
Cliffs Natural Resources (CLF): $1.14
Citrix Systems (CTXS): $0.51
Owens-Illinois (OI): $0.65
US Airways Group (LCC): -$0.23
Delta Air Lines (DAL): -$0.04
Nielsen Holdings (NLSN): $0.26
Eli Lilly & Co (LLY): $0.79
Hess Corp (HES): $1.56
Newfield Exploration (NFX): $0.79
Lorillard (LO): $2.00
Zipcar (ZIP): -$0.06

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

Click here to see the 18 companies that Bank of America predicts will beat earnings this quarter >

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