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Earnings season picks back up on Monday, with highly anticipated reports out of Netflix, Texas Instruments, and ConocoPhillips. Macro data is light, with no announcements scheduled in the U.S., but flash PMI reports will get markets moving.Here’s what you need to know.
- Australia starts things off at 9:30 p.m. on Sunday evening with a reading of producer prices. Economists polled by Bloomberg forecast PPI will have gained 0.5 per cent sequentially in the first quarter of 2012.
- At 10:30 p.m. a flash reading of Chinese manufacturing will be released. The HSBC Flash PMI last registered at 48.3. A reading below 50 indicates contraction. There is no consensus estimate for the April report.
- A final reading of Japan’s coincident index follows at 1:00 a.m. on Monday morning. The preliminary results came in at 93.7.
- Between 2:45 and 3:00 a.m., reading of French business confidence and manufacturing output will be released. Confidence is expected to remain flat at 96. A flash manufacturing PMI report from MarkitEconomics is expected to increase 70 basis points to 47.4 in April.
- Flash readings of the German service and manufacturing sector hit at 3:30 a.m. Economists forecast both will increase, with services at 52.3 from 52.1 and manufacturing at 49 from 48.4.
- Consumer confidence in Italy follows at 4:00 a.m. Consensus is for a slight decline to 96.2 from 96.8.
- Attention shifts to Canada at 8:30 a.m. when wholesale sales are announced. Expectations are for sales to decline 0.2 per cent month-on-month in February.
- At 9:00 a.m. Mexico will release retail sales data, which last logged a 4.4 per cent gain in January.
Below, the major earnings announcements scheduled for the day.
SunTrust Banks (STI): $0.33
Eaton (ETNI): $0.90
DR Horton (DHII): $0.03
BE Aerospace (BEAVI): $0.63
Xerox (XRXI): $0.22
ConocoPhillips (COP): $2.08
Netflix (NFLX): -$0.27
Texas Instruments (TXN): $0.17
Illumina (ILMN): $0.32
Ameriprise Financial (AMP): $1.39
Hasbro (HAS): $0.07
Brinker International (EAT): $0.56
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.