*Stocks were mixed in Asian trade, but those that I report on here were all lower. The Nikkei was among the weakest overnight with a decline of 1.9%, Shanghai lost 1.6%, Australia was down three quarters of a percent and the Hang Seng fell two thirds of a percent. European indexes are also mixed, but the Dax is currently higher by 0.2% and the Footsie is essentially unchanged. US stock futures are down about a half percent.
*The Q3 reading of Australia’s Current Account Balance was a larger deficit than expected at A$7.83 billion. It is said that a stronger currency cut into exports in the latest quarter.
*The October reading of Japan’s Jobless Rate rose one tenth to 5.1%, a steady reading was forecast.
*The preliminary October reading of Japan’s Industrial Production fell 1.8% on a month on month basis; a smaller decline than the -3.2% forecast.
*European debt spreads continue to widen out and the euro continues to weaken against most currencies, earlier this morning the dollar/euro traded under 1.3000 for the first time since mid-September and it is not far above that level now, off by about 100 pips on the day.
*The November reading of Germany’s Unemployment Rate was steady at 7.5%, as was expected. The net change in the number of unemployed was -9k, but a drop of 20k was the estimate. The overall Eurozone jobless rate was steady at 10.1%.
*The weekly report on chain store sales from ICSC shows an increase of 0.5% on a week on week basis for the week ended November 27, sales were up 3.5% for the week when compared to the corresponding week from last year. The Johnson Redbook report on the same thing is due out at 7:55am CST.
*The September reading of the Case/Shiller Home Price Index is due out at 8:00am CST, it is expected to be +1.00% on a year over year basis. The November reading of the Chicago Purchasing Managers Index is due out at 8:45am CST, but remember that subscribers get the report three minutes earlier. The Chicago PMI is forecast to be 59.9, down slightly from the 60.6 result in October. The November reading of Consumer Confidence is due out at 9:00am CST, it is expected to be 53.0, it was 50.2 the month before.
*The Fed is scheduled to buy Treasuries today that are due to mature between 12/31/14 and 5/31/16; the results of the operation will be announced just after 10:00am CST.
*There is a smattering of Fed speak on the calendar today, including the chairman. Minneapolis Fed boss Kocherlakota will talk about monetary policy at 11:30am CST; Bernanke is scheduled to hold a “Conversation on the Economy” at 2:00pm CST with business leaders in Ohio; and Richmond Fedster Lacker will take part of a panel discussion on the future of American finance at 6:00pm CST.
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