Friday cools off from a rapid-fire week, although earnings remains in focus with companies like Ford Motor reporting quarterly results. Macro data includes readings of first quarter GDP in the U.S., unemployment in Japan, and consumer spending in France. Here’s what you need to know.
- The U.K. starts things off at 7:00 p.m. on Thursday evening with consumer confidence. Economists forecast the GfK index increase to -30 in April from -31 a month earlier.
- At 9:30 p.m. Japan will release a reading of unemployment, which is seen unchanged at 4.5 per cent. At the same time, consumer prices in the island nation will be announced. Economists expect CPI increased by 0.4 per cent sequentially in March.
- Chinese industrial profits follows at 9:30 p.m. Earnings last declined 5.2 per cent. There is no consensus for the March report.
- German consumer confidence hits at 2:00 a.m. on Friday morning, with expectations for no change at 5.9.
- French consumer spending is expected at 2:45 a.m. Economists forecast consumers spent 1.9 per cent less in March than they did a month earlier.
- Spanish unemployment will also be announced at 3:00 a.m., with expectations for a 95 basis point jump to 23.8 per cent.
- Italian retail sales are set for release at 4:00 a.m. Consensus is for a 0.2 per cent decline in February from a month earlier.
- Attention shifts to the U.S. at 8:30 a.m. with a reading of first quarter GDP. Expectations are for the economy to show a 2.5 per cent annualized pace of growth. Personal consumption is seen increasing 2.3 per cent during the quarter.
- Closing out the day at 9:55 a.m. is U.S. consumer confidence out of the University of Michigan. The final reading for February is seen unchanged at 75.7.
Below, the major earnings announcements scheduled for the day.
Simon Property Group (SPG): $1.68
Procter & Gamble (PG): $0.92
Merck & Co (MRK): $0.98
KKR & Co (KKR): $0.66
Newell Rubbermaid (NWL): $0.31
Ford Motor (F): $0.36
Goodyear Tire & Rubber (GT): $0.07
VF Corp (VFC): $1.88
Chevron (CVX): $3.21
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.
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