Here Are The Key Market Moving Events For Wednesday, February 22, 2012

china railFlash Chinese Manufacturing is set for release at 11:30 p.m. EST on Tuesday evening.

Photo: Getty

Wednesday follows a busy earnings day, with nearly two dozen major announcers. At the same time, a series of economic releases will keep markets moving.Here’s what you need to know.

  • Australia starts the day off early with its wage index at 7:30 p.m. EST on Tuesday evening. Economists predict wage costs in the country will increase 0.80 per cent in the final quarter of 2011, a 10 basis point acceleration from the third quarter.
  • A flash HSBC reading of Chinese manufacturing will be released at 11:30 p.m. EST. The indicator was last read at 48.8. A reading above 50 indicates expansion.
  • Attention shifts to Europe at 1:30 a.m. EST on Wednesday morning, with French CPI. Economists polled by Bloomberg expect a 0.2 per cent decline in January. 
  • At 3:00 a.m. EST French PMI will be announced, with a preliminary reading for manufacturing expected at 49, 0.5 points higher than in January. However services PMI is seen falling to 52.
  • At the same time, Czech industrial PPI for January is set for release, with economist predicting month-on-month growth of 0.9 per cent, an acceleration from the 0.1 growth seen in December. 
  • Germany’s Purchasing Manger Index will be announce actual results for February at 3:30 a.m. EST. Manufacturing is seen increasing to 51.5, while services jump to 53.9 from 53.7. 
  • Swedish unemployment is set for release at 3:30 a.m. as well, with economists forecasting a an 80 basis point jump in January, to 7.9 per cent.
  • Final readings of Italian consumer prices are set for release at 4:00 a.m. EST, with expectations for a 0.3 per cent rise in January — the same number as an earlier estimate.
  • Between 4:00 a.m. and 5:00 a.m. EST, eurozone industrial new orders, PMI services and PMI manufacturing will be announced. Expectations are for seasonally adjusted new orders to rise 0.5 per cent in December, while services PMI increases to 50.6 from 50.4 for February. Manufacturing PMI is seen remaining just below 50, although increasing from an earlier reading of 48.8.
  • At 10:00 a.m. EST, existing home sales will be announced in the U.S., with consensus for a 0.9 per cent increase in January, following a 5.0 per cent surge in December.
  • Closing out the day at 2:00 p.m. EST is the release of Argentinian unemployment. The fourth-quarter jobless rate is seen remaining level at 7.2 per cent. 

Below, a roundup of tomorrow’s big announcers. 

RR Donnelley & Sons (RRD): $0.43
MGM Resorts International (MGM): -$0.20
Toll Brothers (TOL): $0.03
TJX Cos (TJX): $0.63
Skullcandy (SKUL): $0.43
Ltd Brands (LTD): $1.46
Oasis Petroleum (OAS): $0.30
Express Scripts (ESRX): $0.85
Hewlett-Packard (HPQ): $0.87
Flowserve (FLS): $2.28
SM Energy (SM): $0.57
Williams Cos (WMB): $0.41
Hertz Global Holdings (HTZ): $0.20
Onyx Pharmaceuticals (ONXX): $1.99
Whiting Petroleum (WLL): $0.97
Liberty Global (LBTYA): $0.27
Continental Resources (CLR): $0.78
Fluor Corp (FLR): $0.82
Windstream (WIN): $0.20
MannKind (MNKD): -$0.35
Dollar Tree (DLTR): $1.58
Chico’s FAS (CHS): $0.11

Consensus estimates provided by Bloomberg. 

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