Stocks were generally higher in Asian trade, but relatively limited changes on the session. The Nikkei rose three quarters of a percent, Australia added a quarter percent and Shanghai and the Hang Seng were up a slight fraction. European indexes are mixed, with the Footsie higher by almost a half percent and the Dax lower by about 0.1%. US stock futures are essentially unchanged.*The May reading of Japan’s Retail Trade was up 2.4% on the month, double the expected increase.
*The Greek vote is still a day away, but protesters are already in the streets of Athens in the first day of two planned days of protest.
*ECB boss Trichet said at an event in Amsterdam that the ECB is in strong vigilance mode, indicating the bank is still on line to raise rates at their meeting next month. He also said it is of the utmost importance that Greece takes the right decision.
*The May reading of Germany’s Import Price Index fell 0.6% on a month on month basis, twice the expected decline.
*German states are releasing the June readings of their Consumer Price Index this morning, some of the results include: Brandenburg, +0.1% on a month on month basis and +1.9%; Hesse, +0.1% and +2.1%; Bavaria +0.1% and +2.1%; and North Rhine Westphalia, +0.2% and +2.5%. The national reading of the CPI is due out later this morning; it is expected to be +0.1% on a monthly basis and +2.5% annualized, for the EU Harmonized version.
*The final revision to the UK’s Q1 GDP was steady at +0.5% on a quarter on quarter basis, but was revised down two tenths to +1.6% year on year basis.
*The weekly report on chain store sales from ICSC shows an increase of 2.9% on a week on week basis for the week ended June 25, the best weekly gain in many months. The Johnson Redbook report on the same thing is due out at 7:55am CDT.
*The April reading of the Case/Shiller Home Price Index is due out at 8:00am CDT; it is expected to be -3.95% on a year on year basis, and down 0.20% from the month before. The June reading of Consumer Confidence is due out at 9:00am CDT, it is forecast to rise to 61.0 from 60.8 in May.
*The June reading of the Richmond Fed Manufacturing Index is due out at 9:00am CDT; the estimate calls for -3, it was -6 in may.
*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/18 and 5/15/21; the results of the operation will be announced just after 10:00am CDT.
*The Treasury plans to sell $35 billion 5 Year Notes today; the results of the auction will be announced just after noon CDT.
*Dallas Fed boss Fisher is set to speak at noon CDT, no topic has been announced
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