Here Are The Big Market Moving Events For Wednesday, February 27

Target store

Photo: Flickr/nateOne

A few key U.S. and European economic indicators are scheduled for release tomorrow including French consumer confidence, UK’s gross domestic product (GDP) and U.S. durable goods orders, to name a few.Several top U.S. companies, including Target and TJX Cos Inc. will be posting earnings before markets open tomorrow.

Here’s what you need to know (all times ET, consensus estimates from Bloomberg):

  • At 2:45 am the French consumer confidence index for February will be released. Analysts expect that it won’t change from January to February but will remain at 86 points.
  • At 4 am, the Italian business confidence index will be released, and analysts expect that it will rise by 0.2 point from 88.2 in January to 88.4 in February.
  • Also at 4 am, Euro-Zone’s money supply will be released, and is expected to have increased by 3.2 per cent in January from December. In December the Euro-Zone’s money supply grew by 3.3 per cent.
  • At 4:30 am, UK GDP number will be released. Analysts expect UK GDP to contract by 0.3 per cent in January compared to December, and to remain unchanged year over year.
  • At 5 am, the Euro-Zone consumer confidence index will be released. Analyst expect that it will remain unchanged from January, at -23.6 points.
  • At 7 am, U.S. MBA mortgage applications will be released for the third week of February. Mortgage applications contracted by 1.7 per cent in the second week of February.
  • At 8:30 am, U.S. durable goods orders will be released for January, and are expected to have fallen by 4.7 per cent. In December, durable goods orders rose by 4.6 per cent. Excluding transportation, durable goods orders are expected to rise by 0.2 per cent, compared to a 1.3 per cent rise in December.
  • At 10 am, U.S. pending home sales number will be released, and are expected to rise by 1.5 per cent in January from December. In December pending home sales rose by 2.4 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 Target Corp (TGT) is expected to report earnings per share of $1.48.
  • At 9:30 am TJX Cos Inc (TJX) is expected to report earnings per share of $0.81.

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