All eyes are on China as the country announces April PMI. The other major macro data points from the day come from the U.S. which announces auto sales, construction spending and ISM data. And with earnings season well underway, the biggest earnings announcements come from energy giants BP and Chesapeake.Here’s what you need to know.
- South Korea kicks things off at 7:00 p.m. ET with CPI data for April. Consumer prices are expected to rise 0.3 per cent month-over-month (mum) and 2.8 per cent year-over-year (YoY).
- This is followed up by trade data out of South Korea at 8:00 p.m. ET, when they country is expected to announce a 1.1 per cent YoY drop in April exports and a 1.7 per cent YoY increase in imports.
- The big announcement of the night comes from China when it announces official PMI at 9:00 p.m. ET. April PMI is expected to tick up to 53.6.
- Australia’s Q1 house price index is released at 9:30 p.m. ET. Consensus is for a 0.5 per cent quarter-over-quarter (QoQ) drop in the house price index and a 3.9 per cent YoY drop in the index.
- Indonesia then announces April inflation numbers at midnight. Inflation is expected to jump 4.46 per cent YoY and 0.2 per cent mum. Core inflation is expected to rise to rise 4.2 per cent YoY.
- Indonesia also announces trade data at the same time with exports expected to climb 3.8 per cent YoY, and imports are expected to jump 14 per cent.
- Attention then turns to Europe with UK expected to announce a drop in April PMI to 51.5.
- The U.S. ISM manufacturing index for April and construction spending for March will be out at 10:00 a.m. ET. Expectations are for a drop in the ISM manufacturing index to 53, and a 0.5 per cent mum increase in construction spending.
Below, the major earnings announcements for the day.
BP Plc (BP): $1.65
Chesapeake Energy (CHK): $0.29
Genworth Financial Inc (GNW): $0.11
Gevo Inc (GEVO): -$0.59
Hospira (HSP): $0.46
Motorola Mobility Holdings Inc (MMI): $0.01
Pfizer Inc (PFE): $0.56
Valero Energy Corporation (VLO): $0.29
Consensus economic indicator estimates are provided by Bloomberg. Earnings estimates are from CNBC. All times are in Eastern Standard Time.
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