*Stocks were mixed in Asian trade. Shanghai was among the best with a gain of almost 1.4%, but the Nikkei fell about 1.2%, the Hang Seng was down 0.7% and Australia lost 0.4%. European indexes are generally down a bit currently, with the Dax and Footsie both off about 0.4%. US stock futures are up a fraction on the session.*The preliminary December reading of Japan’s Industrial Production was a few tenths better than forecast at +3.1% month on month, but that result was three times the increase seen the previous month.
*The January reading of Japan’s manufacturing sector Purchasing Managers Index was up three points on the month to 51.4, the best result since last July.
*The December reading of German Retail Sales badly missed the estimate, it was -0.3% on the month, well short of the forecast for a gain of two percent. The annualized reading at -1.3%, was also well under the estimate for a gain of 1.1%.
*The events in Egypt are ongoing. President Mubarak has thus far refused to cede control of the country, he has instead installed a new vice President and a new cabinet, which is being selected and sworn in today. The stock market there has not reopened so far this week and is now expected to be closed tomorrow as well.
*The December reading Personal Income and Spending is due out at 7:30am CST. Income is expected to be +0.4% month on month and the estimate for Spending is +0.5%. The December reading of the PCE Core inflation rate is +0.1% month on month and +0.8% year on year. The January reading of the Chicago Purchasing Managers Index is due out at 8:45am CST, but remember it is release three minutes earlier for subscribers. The Chicago Index is expected to be 64.5, down a bit from the December result of 66.8.
*The January reading of the Dallas Fed Manufacturing Index is due out at 9:30am CST, it is forecast to be 15.0, up from 12.8 in December.
*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/13 and 12/31/14; the results of the operation will be announced just after 10:00am CST.
*Atlanta Fed boss Lockhart is scheduled to speak in Miami today at 11:00am CST.
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