Tomahawk, WI 9/16/2011 (PennyPayDay) – THE DAY AHEADSeptember 16
*Stocks were broadly higher in Asian trade. The Nikkei added two and a quarter percent, Australia was up 1.9%, the Hang Seng gained 1.4%, while Shanghai rose a slight fraction. European indexes are also generally up, with the Dax better by 1.0% and the Footsie adding about 0.7%. US stock futures are down by a quarter to a half percent as I write.
*The ECOFIN meeting in Poland has not produced any surprises, just the usual encouraging comments on Greece and the other countries struggling with their debt. EU boss Juncker was downbeat on the global economy and he noted that a European stimulus package is not possible. US Treasury boss Geithner is at the meeting but Juncker said their session with him was not one at which any decisions were taken.
*The July reading of the net change in Foreign Holdings of Long-term US Securities, the TIC data, is due to be released at 8:00am CDT, it is expected to show a net increase of $30.0 billion. The preliminary September reading of consumer sentiment from the University of Michigan is due out at 8:55am CDT, it is forecast to be 57.0, up from the final August result of 55.7.
*The Fed is set to release the Q2 version its statistical report, the Flow of Funds, at 11:00am CDT.
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