Calendar

EURO EMPLOYMENT
Mar. 17, 6:00 a.m. EST
Eurostat releases the European Union's employment numbers for the latest quarter. A tightening labor market, along with strong corporate profits, is fueling demand for wage increases in parts of the Continent.

U.S. INDUSTRIAL PRODUCTION
Mar. 17, 9:15 a.m. EST
Factory output likely grew slowly throughout the first quarter, with industrial production rising just 0.1% month-over-month in January.

GOLDMAN SACHS (GS)
Mar. 18, 8:30 a.m. EST
The investment bank finished robustly in 2007, with shares beating analysts' predictions. But struggles with mortgage-linked securities and the seized-up credit market are likely to weigh on the stock in the first quarter. Estimates put earnings at $3.22 a share.

FOMC MEETING
Mar. 18, 9:00 a.m. EST
The Federal Open Market Committee meets amid increasing evidence that the U.S. economy is in recession. Traders of interest rate futures are expecting a big cut in the federal funds rate, to 2.25% from 3%.

PETROCHINA (PTR)
Mar. 19
Asia's biggest producer of oil and gas announces its 2007 full-year results today. With domestic crude oil production to rise 1% in 2008, earnings are set to increase to $11.18 a share.

DISCOVER (DFS)
Mar. 19, 8:30 a.m. EST
The credit market continues to wear on lenders. Discover's first-quarter earnings report should show relatively flat growth, with earnings dropping to 34 cents.

EURO FOREIGN TRADE
Mar. 19, 11:00 p.m. EST
Although demand for European exports has been relatively healthy, the strength of the euro is an undermining force.

NIKE (NKE)
Mar. 19, 4 p.m. EST
The sports apparel maker has been going strong, thanks to its joint venture with Apple (AAPL) and the cross-branding of the iPod with its sports equipment. This has kept sales increasing, and earnings should remain positive. The company exceeded investors' expectations last quarter, and Nike's results for the third quarter, to be announced today, are expected to keep growing.

RECOVERING BANKS
Mar. 20, 8:30 a.m. EST
The subprime crisis hit investment banks hard in 2007. But analysts predict Bear Stearns (BSC)' first-quarter earnings will climb back to $1.35 per share because of fewer writedowns at the start of 2008. Morgan Stanley (MS) also reports its first-quarter results. It posted losses at the end of 2007 because of the hit from investments gone sour, but the outlook is expected to improve, and earnings per share are expected to rise to $1.22.

FEDEX (FDX)
Mar. 20, 12:00 p.m. EST
Earnings at the air freight company are under pressure because of rising fuel costs. The betting among analysts is that earnings per share for the fiscal 2008 third quarter will slip to $1.24.