Monday, January 3, 2011

3 Things you need to know before Trading Today

3 Things you need to know before Trading TodayMany 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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