Here Are The Big Market Moving Events For Wednesday, February 20

Wednesday is busy day for economic indicators. Key European inflation and employment indicators will be released as East Coasters sleep tonight. And when they awaken, there's a book U.S. housing report scheduled to come out before the bell.

Several top U.S. companies are posting earnings reports tomorrow.

Here's what you need to know (all times ET):

• At 2 am, German inflation numbers will be released. Analysts surveyed by Bloomberg expect the German Consumer Price Index (CPI) to have fallen by 0.5 percent in January, over the time period of one month, which is the same rate at which it fell in December. Over a year, analysts expect CPI to have increased by 1.7 percent.
• At 2:45 pm French inflation numbers will be released. Analysts surveyed by Bloomberg expect the French CPI to have increased by 1.4 percent in January, year over year, which is the same rate at which it rose in January 2012.
• At the same time, the French Business Confidence Indicator will be released. Analysts expect it to rise by one point, to 87 in February, from 86 in January.
• At 4:30 am, in UK, the unemployment rate from the International Labor Organisation (ILO) will be released. Analysts expect it to stay the same for the fourth quarter of 2012—7.7 percent, which is where it was at in the third quarter.
• At the same time, the change in jobless claims in the UK will also be released. Analysts expect that 5,500 fewer people filed claims in January than they did in December. In December, 12,100 fewer people filed claims than they did in November.
• Also at 4:30 am, the UK Claimant Count Rate, which records the number of people claiming unemployment-related benefits, will be released. Analysts expects this rate to have not changed from December to January—4.8 percent.
• At 1 am, in the U.S., MBA mortgage applications, which records the number of applications for mortgages were made in the week prior to February 15. In the first week of February, mortgage applications fell by 6.4 percent.
• At 8:30 am, U.S. housing starts will be released. Analysts expect housing starts to rise by 920,000 in January, compared to 954,000 in December.
• At the same time, the U.S. Producer Price Index (PPI), which is a measure of inflation, will be released. Analysts expect it to have risen by 0.3 percent in January, from December. In December PPI fell by 0.2 percent.
• At 10 am, after U.S. markets open, the European Consumer Confidence number will be released. Analysts expect consumer confidence to rise by a little more than half a point, from -23.9 in January, to -23.2 in February.

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, MGM Resorts International (MGM) is expected to report an earnings per share loss of $0.23 for the fourth quarter of 2012.
• Toll Brothers Inc (TOL) is expected to report earnings per share of $0.10 for the first quarter of 2013.
• Six Flags Entertainment Corp (SIX) is expected to report an earnings per share loss of $0.58 for the fourth quarter of 2012.
• Devon Energy Corp (DVN) is expected to report an earnings per share of $0.75 for the fourth quarter of 2012.
• Owens Corning (OC) is expected to report an earnings per share of $0.16 for the fourth quarter of 2012.
• At 9 am, Eaton Vance Corp (EV) is expected to report an earnings per share of $0.52 for the first quarter of 2013.