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Tuesday is a relatively slow day in the U.S., with small business optimism and a reading of job openings. Industrial and manufacturing reports out of Italy, France, the U.K., and other European nations will set the tone.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 gauge of like-for-like sales. Expectations are for a 2.0 per cent improvement in June.
- China’s trade balance follows at 10 p.m., with expectations for the country to run a $24.0 billion surplus in June.
- Announcements go quiet until 1:00 a.m. on Tuesday morning with Japanese Consumer Confidence. Consensus is for no change at 40.7 in June.
- Finish industrial production hits at 2:00 a.m. There is no consensus for the May report.
- French industrial production follows at 2:45 a.m., with expectations for a 1.0 per cent sequential decline in May. Manufacturing is projected to show a narrower 0.3 per cent fall in the report.
- At 3:30 a.m. readings of Dutch and Swedish industrial production are expected. Production is seen declining 0.5 per cent in the Netherlands, while Sweden advances 0.4 per cent.
- Italian and British industrial production reports follow at 4:00 and 4:30 a.m., respectively. Economists forecast production contracted 0.6 per cent in Italy and 0.2 per cent in the U.K. in May.
- Attention shifts to the U.S. at 7:30 a.m., with NFIB Small Business Optimism. Expectations are for a 110 basis point fall in June to 93.3.
- Canadian housing starts hit at 8:15 a.m. Consensus is for the annualized pace to fall to 205,000 units in June.
- Closing out the day at 10 a.m. is the May Job Opening and labour Turnover Survey (JOLTS) from the Bureau of labour Statistics. Economists expect openings increased to 3.588 million.
Below, the key earnings announcements scheduled for the day.
Wolverine World Wide (WWW): $0.46
Shaw Group (SHAW): $0.58
OCZ Technology Group (OCZ): -$0.12
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.