5 Things To Know Before Trading

*Stocks in Asia were mixed, but many of the key indexes closed lower on the day. The Hang Seng lost one percent, Australia and Shanghai were off by three quarters of a percent and the Nikkei was down 0.4%. European indexes are generally higher on the session, in part a response to a respite from the collapse of peripheral countries debt; the Footsie and Dax are both currently up by about three quarters of a percent. US stock futures are up by about one third of a percent.

*The Australian reading of Business Confidence fell two points to 8 in September, the second decline in a row and Business Conditions fell five points on the month to 2; which is the lowest mark since July 2009. The reports are said to reflect Australia’s two speed economy, surging shipments of raw materials to China, but slowing domestic demand after a series of seven rate hikes by the central bank.

*The September reading of Japan’s Balance of Trade surplus was, at Y926.9 billion, was more than expected, as exports improved more than imports.

*The final October reading of Germany’s Consumer Price Index was unrevised at +0.1% on the month and +1.3% on a year over year basis.

*The October reading of Switzerland’s Consumer Confidence fell sharply to 7, down from 16 the month before and well below the expectation for a one point gain.

*The September reading of UK Industrial Production matched the forecast at +0.4% on a month on month basis.

*The October reading of the NFIB Small Business Optimism Index was up almost three points on the month to 91.7. While that is just a half point under the cycle peak set in May, this level continues to be weak by historical standards, a reading more associated with recessions.

*The weekly report on chain store sales from ICSC showed a week on week gain of 1.3% for the week ended November 6, the best weekly gain since mid-July. The Johnson Redbook report on the same thing is due out at 7:55am CST.

*The September reading of Wholesale Inventories is due out at 9:ooam CST, it is expected to be +0.7% on a month on month basis. Also due out at 9:00am is the November reading of the IBD/TIPP Economic Optimism Index, it is forecast to make a fractional gain on the month to 47.0.

*The Treasury plans to sell $24 billion 10 Year Notes today; the results of the auction will be announced just after noon CST.