3 Things to Know Before Trading

Tomahawk, WI 4/6/2011 (PennyPayDay) -- Stocks were mixed in Asia. Shanghai gained more than one percent, the Hang Seng was up better than a half a percent and Australia added a quarter percent, but the Nikkei fell a third of a percent on the session. European indexes are generally higher on the day, with the Footsie and Dax both currently up more than a half percent. US stock futures are up by a half to three quarters of a percent.

*The March reading of China’s service sector Purchasing Managers Index was down two tenths on the month to 51.7, according to HSBC.

*The preliminary February reading of Japan’s Leading Index rose almost three points to 104.2; matching the forecast.

*The final Q4 reading of Eurozone GDP was unrevised at +0.3% quarter on quarter and +2.0% year on year.

*The February reading of German Factory Orders were much stronger than expected with a monthly gain of 2.4%.

*The March reading of Switzerland’s Consumer Price Index was +0.6% on a month on month basis and +1.0% annualized; both results were at least double the forecast.

*In March UK House Prices were up 0.1% on the month, but down 2.9% versus a year ago, according to Halifax.

*The February reading of UK Industrial Production was down 1.2% on the month, much worse than the expected monthly gain of 0.4%.

*US mortgage applications were down 2.0% for the week ended April 1, according to the Mortgage Bankers Association and are down 11.3% on a year over year basis.

*In comments to reporters Atlanta Fed boss Lockhart said he was not “leaning in direction” of tightening by year end, though he does not rule out anything.

*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to rise 2.0 million barrels, Gasoline inventories are expected to decline 1.9 million and the estimate for Distillates is unchanged on the week.

*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/28 and 2/15/41; the results of the operation will be announced just after 10:00am CDT.

*Atlanta Fed boss Lockhart is scheduled to give closing remarks at his bank’s conference at 11:00am CDT; not likely of interest to the markets.

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