After two jam packed days of economic releases, Friday will be a slightly slower day. There are no U.S. economic releases scheduled, but several European and Canadian indicators will be released before markets open.Only three top securities in the U.S. will be releasing earning before markets open.
Here’s what you need to know (all times ET, consensus estimates from Bloomberg):
- At 2 am, the German Gross Domestic Product (GDP) for the fourth quarter of 2012 will be released. Analysts expect GDP to have contracted by 0.6 per cent in the fourth quarter, the same rate at which it contracted in the third.
- At 4 am, in Germany, the IFO Institute for Economic Research will release their Business Climate index, Current Assessment index and Expectations index. Analysts expect the Business Climate index to climb by 0.7 point, from 104.2 in January to 104.9 in February. The Current Assessment index is expected to rise by half a point, from 108 in January to 108.5 in February. The Expectations index is expected to rise by 0.9 points, from 100.5 in January to 101.4 in February.
- At the same time, Italian Consumer Price Index (CPI) numbers, which measure inflation, will be released. Analysts expect overall inflation to have risen by 2.4 per cent in January 2013, the same rate at which it rose in the preceding year. On a monthly basis, inflation is expected to have risen by 0.2 per cent in January, the same rate at which it rose in December.
- At 5 am Italian consumer confidence index will be released. Analysts expect consumer confidence to remain the same, not budging from 84.6 from January to February.
- At 8:30 am, the Canadian CPI numbers will be released. Analysts expect inflation to have risen by 0.2 per cent in January, which is pretty high compared to the 0.6 per cent fall in December. From January 2012 to January 2013, inflation increased by 0.6%. In January 2012, inflation has risen by 0.8 per cent.
- Also at 8:30, Canadian retail sales figures will be released. Analysts expect that consumer bought 0.3 per cent less stuff in December 2012 than they did in November. In November retail sales rose 0.2 per cent.
Below are the top companies that will be posting fourth-quarter earnings reports before markets open tomorrow, along with consensus estimates from Bloomberg:
- Before markets open, Gardner Denver Inc (GDI) is expected to report earnings per share of $1.35.
- At 7 am Abercrombie & Fitch Co (ANF) is expected to report earnings per share of $1.96.
- At 8 am Charter Communications Inc (CHTR) is expected to report earnings per share of $0.13.