3 Things to Consider While Trading Today

Oxford, MS 9/28/2011 (PennyPayDay) – Stocks were mixed in Asian trade. Australia gain almost 0.9% and the Nikkei was up a slight fraction, but the Hang Seng fell two thirds of a percent and Shanghai dropped about one percent. European indexes are generally better on the day, with the Dax currently up about 0.9%, but the Footsie is essentially unchanged on the session. US stock futures are up a bit more than half percent as I write.

*The August reading of China’s Leading Economic Index fell a slight fraction to 101.83; the second decline in a row and the lowest mark since March.

*The Finland Parliament approved the July changes to the EFSF.

*The EU announced this morning they have set an extra Eurogroup meeting for October to discuss Greece, but the date has not yet been picked.

*The August reading of Germany’s Import Price Index was down twice as much as forecast with a monthly drop of 0.7%; but the annualized reading at +6.6% was right on the estimate.

*German states are releasing the September reading of their Consumer Price Index, some of the results include: Saxony +0.3% month on month and +2.6% year on year; Brandenburg -0.1% and +2.3%; North-Rhine Westphalia +0.3 and +2.8%; and Bavaria 0.0% and +2.5%. The national CPI is also due out this morning, it is expected to be -0.1% on a month on month basis and +2.6% year on year, for the EU Harmonized version.

*Boston Fed boss Rosengren spoke earlier today in Sweden. He said the Fed should focus on achieving full employment and that he is “very supportive” of Operation Twist.

*US mortgage applications were up 9.3% in the week ended September 23, according to the Mortgage Bankers Association. Applications for Purchase were up only 2.6% but those for Refinancing gained 11.2% on the week.

*The August reading of Durable Goods Orders is due out at 7:30am CDT. Headline Orders are expected to be -0.4% on a monthly basis and the Orders ex-transportation is forecast to be down 0.2% from the month before.

*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to increase 2.05 million barrels, Gasoline inventories are expected rise 1.0 million and the estimate for Distillates is -400k.

*The Treasury plans to sell $35 billion 5 Year Notes today; the results of the auction will be announced just after noon CDT.

*Fed boss Bernanke is scheduled to speak about emerging market economies in Cleveland at 4:00pm CDT.

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