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All eyes will be on China tonight..Here’s what you need to know.
- At 10:30 p.m. ET on Wednesday, HSBC reports its China Flash Manufacturing PMI numbers. The prior reading on the index was 49.3, indicating a slight contraction in manufacturing.
- At 2:00 a.m. Thursday, Germany reports GDP, which economists expect grew at 0.3 per cent annualized rate in the second quarter.
- At 3:00 a.m. France reports its PMI numbers, and economists are looking for a 43.7 reading on the manufacturing index and a 50 reading on services.
- Then, at 3:30 a.m., it’s back to Germany, which also reports PMIs. Economists are expecting a 43.4 reading on manufacturing and a 50.1 reading on services.
- The eurozone reports composite PMI at 4:00 a.m., and economists forecast a 46.5 reading on the index – 44.2 for manufacturing and 47.7 for services.
- Brazil reports unemployment at 8:00 a.m. and economists expect a 5.8 per cent unemployment rate.
- At 8:30 a.m., the U.S. data starts coming in, with initial jobless claims kicking things off. Economists expect 365k new claims, down slightly from 366k last week.
- At 8:58 a.m. Markit reports U.S. preliminary PMI. A reading of 51.5 on the index is expected.
- At 10:00 a.m. U.S. new home sales and the House Price Index are released, with economists expecting 365k new units sold in July and an annualized 2.6 per cent rise in prices in the second quarter.
Below, the key earnings announcements scheduled for the day and consensus analysts’ estimates:
- Big Lots (BIG): $0.42
- MICROS Systems (MCRS): $0.60
- Autodesk (ADSK): $0.49
- Aruba Networks (ARUN): $0.17
- Salesforce.com (CRM): $0.39
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.