Many stock markets in Asia have not yet opened for the year. Among those that did it was the Hang Seng that led the way with a gain of one and three quarters percent. Aside from the UK, Europe is open for business and well bid; the Dax is currently trading up one and a quarter percent. US stock futures are up about three quarters of a percent.*Manufacturing growth slowed in China according to a Purchasing Managers report released on Saturday by the China Federation of Logistics and Purchasing; the index was down 1.3 points to 53.9.
*The final December reading of Germany’s manufacturing sector Purchasing Managers Index was revised down two tenths to 60.7, but still up about two and a half points from the month before.
*The December reading of Switzerland’s manufacturing sector PMI was down a couple of points on the month to 59.6, it had been expected to rise a couple of tenths.
*The December reading of the ISM Manufacturing Index is due out at 9:00am CST. The headline index is expected to rise a fraction on the month to 57.0 and the Prices Paid component is forecast to increase a couple of points to 71.3. Also due out at 9:00am is the November reading of Construction Spending; the estimate calls for +0.2%.
*The Fed is scheduled to buy Treasuries today that are due to mature between 2/15/18 and 11/15/20; the results of the operation will be announced just after 10:00am CST.
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