5 Things to Keep in Mind While Trading Today

THE DAY AHEAD

January 24

*Stocks were mixed in Asian trade. The Nikkei and Australia both gained about two thirds of a percent, but the Hang Seng was down 0.3% and Shanghai lost about three quarters of a percent. European indexes are generally lower, with the Dax off by a half percent, but the Footsie is higher on the day by 0.3%. US stock futures are up a slight fraction as I write.

*China is planning to expand its moves to curb property speculation; the housing ministry will now pressure the governments of second and third tier cities to impose limits on property purchases, especially in those places that have seen large increases in home prices.

*The Q4 reading of Australia’s Producer Price Index is +0.1% on a quarter on quarter basis, below the forecast for a gain of 0.5%. Also the year on year reading was +2.7%, or five tenth below the estimate.

*The December reading of China’s Leading Economic Index was down about a half point to 100.76, the tenth decline in a row for the index.

*The January reading of Germany’s manufacturing sector Purchasing Managers Index was down a half point to 60.2, below the forecast for 60.9. The service sector PMI however rose eight tenths to 60.0, one point better than expected.

*McDonald’s reports Q4 eps of +$1.16, and Revenues of $6.21 billion. Both results were in line with expectations.

*The Fed is scheduled to buy Treasuries today that are due to mature between 7/31/16 and 12/31/17; the results of the operation will be announced just after 10:00am CST.

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