*Stocks were generally higher in Asian trade. Shanghai was among the day’s best with a gain of 1.8%, the Hang Seng was up one percent, Australia added two thirds of a percent and the Nikkei was up a third. European indexes are slightly lower on the session, with the Footsie currently off 0.2% and the Dax about unchanged. US stock futures are essentially unchanged.*The January reading of Australian Consumer Confidence was down more than six points to 104.6, for the lowest result since last June. according to Westpac’s index.
*The November reading of Japan’s Tertiary Industry Index was up 0.6%, one tenth better than expected.
*The November reading of the UK Unemployment Rate is steady at 7.9%, as forecast. In December the net change in the number of jobless claimants was down 4.1k, a bigger drop than expected.
*US mortgage applications were up 5.0% in the week ended January 14, according to the Mortgage Bankers Association. Applications for refinancing were up for the third week in a row, this time by 7.7%, but applications for purchase fell 1.9% and this index is now at the lowest level since early November.
*Goldman Sachs is among the companies that are reporting earnings today; the estimate calls for an eps of +$3.79. Wells Fargo, Bank of New York Mellon, US Bancorp and State Street are some of the other financials that are set to report today.
*The weekly report on chain store sales from ICSC showed a decline of 0.1% on a week on week basis for the week ended January 15; sales were up 1.4% for the week when compared to the corresponding week from a year ago, the lowest rate of growth since the end of May. The Johnson Redbook report on the same thing is due out at 7:55am CST.
*The December reading of Housing Starts is due out at 7:30am CST. Starts are expected to be down 0.9% on the month for an annualized rate of 550k units; Building Permits are forecast to be up 1.8% on the month to 554k units annualized.
*The weekly report on energy inventories is delayed until Thursday because of the holiday.
*The Fed is scheduled to buy Treasuries today that are due to mature between 7/31/13 and 12/31/14; the results of the operation will be announced just after 10:00am CST.
*China’s leader, Hu Jintao, arrived in DC yesterday and will meet today with Obama in the Oval Office and be feted with a state dinner tonight. He is expected to travel to Chicago to sign a series of trade and investment agreements later in the week.
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