Here Are The Key Market Moving Events For Tuesday, March 6, 2012

United KingdomA series of economic announcements are scheduled in the U.K., including home prices and retail sales.

Photo: loop_oh via Flickr

Tuesday is a relatively slow day before big economic releases at the end of the week. There are no U.S. announcements scheduled for the day, however a number of public companies will report quarterly results, including Pandora Media.Here’s what you need to know.

  • The United Kingdom starts things off at 7:01 p.m. EST with like-for-like February retail sales out of the British Retail Consortium. Sales declined 0.3 per cent during the month, but were 2.3 per cent above last February.
  • At 7:30 p.m. EST, the Philippine government will release a February consumer prices, which economists forecast will increase 0.4 per cent during the month.
  • Announcements go quiet until a reading of U.K. 3:15 a.m. on Tuesday morning. Halifax House Prices are expected to advance 0.3 per cent in February. 
  • A preliminary reading of eurozone GDP will be announced at 5:00 a.m. EST. Economists polled by Bloomberg predict the regional economy contracted by 0.3 per cent during the fourth quarter, which would remain 0.7 per cent ahead of year ago levels.
  • Brazilian GDP is set for release by the Instituto Brasileiro de Geografia e Estatística at 7:00 a.m. EST. The South American economy is seen increasing 0.2 per cent during the final quarter of 2011. 
  • Closing out the day at 10:00 a.m EST is a reading of the Ivey Purchasing Managers Index in Canada. The survey of executives is seen declining to 62 from 64.1. A reading above 50 indicates economic expansion.

Below, the major earnings announcements scheduled for the day.

Kronos Worldwide (KRO): $0.50
Dick’s Sporting Goods (DKS): $0.88
MAKO Surgical (MAKO): -$0.14
Pandora Media (P): -$0.02
Chelsea Therapeutics International (CHTP): -$0.30
Oncothyreon (ONTY): -$0.14

Consensus estimate provided by Bloomberg.

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