3 Things you need to know before Trading Today

OXFORD, Mississippi, Feb 25. 2011/PennyPayday.com/ - Stocks were generally higher in Asian trade. The Hang Seng was among the strongest with a gain of 1.8%, the Nikkei was up 0.7% and Australia added more than a half percent, but Shanghai was unchanged on the day. European indexes are also broadly higher on the session with the Footsie up about 0.9% and the Dax up a half percent. US stock futures are up by more than a half percent.

*Libya is ongoing.

*The January reading of Japan’s Consumer Price Index, ex-fresh food, is -0.2% on a year over year basis, up from -0.4% the month before and one tenth higher than forecast. However the February reading of that inflation measure for Tokyo was more deflationary at -0.4%, down twice the result from January.

*German states have been releasing the February reading of their Consumer Price Indexes this morning, including: Saxony +0.5% on the month and +2.2% year on year; Brandenburg +0.6% and +1.8%; Hesse +0.6$ and +1.8% and Bavaria +0.5% and +2.1%. The national CPI report is due out later this morning, it is expected to be +0.5% on a month on month basis and +2.1% year on year.

*The first revision of the UK Q4 GDP was downward. Growth is now said to have fallen 0.6% on a quarter on quarter basis, one tenth worse than previously thought and the annualized rate was revised to +1.5%, the initial report put it at +1.7%.

*The first revision of the US Q4 GDP is due out at 7:30am CST. Headline GDP is expected to be revised up one tenth from the initial report to 3.3%, but the Personal Consumption component is forecast to be taken down a couple of tenths to 4.2%, while the estimate for the Price Deflator is steady at 0.3%. The Core PCE inflation measure is also expected to be unrevised at +0.4%. The final February reading of consumer sentiment from the University of Michigan is due out at 8:55am CST, it is expected to be revised higher by three tenths from the preliminary result to 75.4, it was 74.2 in January.

*Richmond Fed boss Lacker and Fed Governor nominee Diamond will talk about the bank stress tests at a business conference at 9:15am CST. Later on at the same conference, at 12:30pm CST, there will be a discussion on unconventional monetary policy that will include Fed Governor Yellen, ECB VP Constancio, and BOE deputy Governor Bean.

*The Fed is scheduled to buy Treasuries today that are due to mature between 5/15/18 and 2/15/21; the results of the operation will be announced just after 10:00am CST.

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