Here Are The Big Market Moving Events For Tuesday, August 7

Train High Speed Train Economy ItalyItalo, the new high speed train from NTV, ahead of its inaugural trip to Naples. Economic data is expected at 4 and 5 a.m.

Photo: Giorgio Cosulich/Getty Images

Economic announcements remain firmly focused on Europe, with a series of industrial production readings from Italy, the Netherlands, Great Britain, and Germany.In the U.S., the June consumer credit report, as well as earnings from Disney, will drive headlines.

Here’s what you need to know.

  • The U.K. starts things off at 7:00 p.m. on Monday evening with the British Retail Consortium’s like-for-like sales report. Sales are expected to slow 0.2 per cent in July.
  • The Reserve Bank of Australia will release cash rate targets at 12:30 a.m. on Tuesday morning. Economist forecast the central bank will leave its key lending rate unchanged at 3.5 per cent.
  • Swiss unemployment follows at 1:30 a.m., with forecasts for July’s reading to remain unchanged at a seasonally adjusted 2.9 per cent.
  • Dutch industrial production is expected at 3:30 a.m., with projections for a 0.3 per cent sequential improvement in June.
  • Italian industrial production hits at 4:00 a.m., with forecasts for a 6.5 per cent decline from the year ago period.
  • U.K. manufacturing production is scheduled for 4:30 a.m. Economists expect production fell 3.5 per cent sequentially in June.
  • It’s back to Italy at 5:00 a.m. with second quarter GDP. Consensus is for a 0.8 quarter-on-quarter decline. 
  • At the same time, Italian parliament is expected to give its final approval on spending cuts.
  • German factory orders follow at 6:00 a.m. Economists project orders fell 0.8 per cent in June.
  • Canadian building permits, which are seen declining 3.9 per cent, will be released at 8:30 a.m.
  • Attention shifts to the U.S. at 10:00 a.m. with the BLS’s Job Openings And labour Turnover Survey (JOLTS) report for June. Job openings are expected to increase by 75,000 to 3.717 million.
  • Canadian PMI also hits at 10:00 a.m. The Ivey index is seen advancing 3 points to 52 in July. A reading above 50 indicates expansion.
  • An estimate of British GDP in July is scheduled for 10:00 a.m. by the National Institute of Economic and Social Research.
  • Closing out the day at 3:00 p.m. with consumer credit. Economists project a $10.5 billion increase in June.

Below, the key earnings announcements scheduled for the day.

Sirius XM Radio (SIRI): $0.02
Tenet Healthcare (THC): $0.05
CVS Caremark (CVS): $0.79
Fossil (FOSL): $0.79
Quicksilver Resources (KWK): -$0.07
MGM Resorts (MGM): -$0.15
Charter Communications (CHTR): -$0.16
Gaylord Entertainment (GET): $0.29
Cree (CREE): $0.23
Walt Disney (DIS): $0.93
priceline.com (PCLN): $7.36
Express Scripts Holding (ESRX):$0.82
Energy Transfer Partners (ETP): $0.48
Molson Coors Brewing (TAP): $1.20
NII Holdings (NIHD): $0.11
Endo Health Solutions (ENDP): $1.19
Zillow (Z): $0.04
Cablevision Systems (CVC): $0.19
Rackspace Hosting (RAX): $0.18
Sotheby’s (BID): $1.52

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

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