Here Are The Big Market Moving Events For Thursday, February 21

Flickr/jking89Thursday is another very busy day for economic indicators. Key European indicators measured by the Flash Purchasing Manager's Index (PMI) will be released tomorrow. In The U.S., we'll get some key housing indicators and another read on jobs.

Several top U.S. companies are posting earnings reports tomorrow, like Wal-Mart and Safeway.

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

• At 3 am, the French Flash PMI manufacturing and services index numbers will be released. Analysts expect the manufacturing index to have risen by almost one point, from 42.9 in January to 43.8 in February. Analysts expect the services index to rise by 0.8 points, to 44.4 in February, from 43.6 in January.
• At 3:30 am, German Flash PMI manufacturing and services index numbers will be released. Analysts expect the manufacturing index to have risen by 0.7 points, from 49.8 in January to 50.5 in February. Analysts expect the services index to fall by 0.2 points, to 55.5 in February, from 55.7 in January.
• At 4 am, the PMI composite for the European Commission will be released. Analysts expect the composite index to rise by 0.4 points, from 48.6 in January to 49 in February. The PMI manufacturing index for the EC is expected to have risen by 0.6 points, from 47.9 in January to 48.5 in February. Analysts expect the services index to rise by 0.4 points, to 49 in February, from 48.6 in January.
• At 8:30 am, U.S. initial jobless claims for the week preceding Feb 16 will be released. Analysts expect workers will have made 355,000 claims in the second week of February, slightly up from the 341,000 in the first week.
• At the same time, U.S. CPI number will be released. Excluding food and energy, analysts expect inflation to have risen by 0.2 percent in January, compared to a 0.1 percent rise in December. Including food and energy, inflation is expected to have risen by 0.1 percent in January, compared to 0 percent in December.
• At 10 am U.S. existing home sales numbers will be released, and analysts expect that 4.9 million homes were sold in January, slightly down from 4.9 million in December.
• At the same time, the U.S. leading indicators number will released, and analysts expect it to have risen by 0.2% in January, a slower pace than 0.5% in December.
• At at 10 am, the results of the Philadelphia Fed Business Outlook Survey will be released. Analysts expect it to rise by 6.9 points in January, to 1.1, from -5.8 in January.

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, Chesapeake Energy Corp (CHK) is expected to report an earnings per share loss of $0.14.
• The Carlyle Group LP (CG) is expected to report an earnings per share of $0.68.
• At 7 am Wal-Mart Stores Inc (WMT) is expected to report an earnings per share of $1.57.
• At 9 am Safeway Inc (SWY) is expected to report an earnings per share of $0.76.