Wednesday, January 11, 2012

3 Things To Know Before Trading

3 Things To Know Before TradingPalm Beach, FL 1/11/12 (StreetBeat) --Stocks were mixed in Asian trade. Australia rose 0.8%, so too did the Hang Seng, while the Nikkei was up 0.3%, but Shanghai fell 0.4%. European indexes are lower this morning, with the Dax and Footsie both currently down about 0.6%. US stock futures are down a quarter to a third of a percent as I write.

*The preliminary November reading of Japan’s Leading Economic Index was up nine tenths on the month to 92.9, as forecast.

*In 2011 Germany’s annualized GDP was +3.0%, as expected. But this means that the German economy likely declined by roughly 0.25% in the fourth quarter from the third quarter, says the Federal Statistics Office.

*US mortgage applications were up 4.5% in the week ended January 6, according to the Mortgage Bankers Association. Both key components were up on the week, led by the applications for purchase, which rose 8.1%.

*The weekly report on energy inventories is due out at 9:30am CST. Stocks of Crude Oil are forecast to increase 1.0 million barrels, Gasoline inventories are expected to rise 2.25 million and the estimate is also +2.25 million.

*The Fed is scheduled to buy Treasuries today that are due to mature between 2/15/36 and 11/15/41; the results of the operation will be announced just after 10:00am CST.

*There are three Fed speakers on the calendar today. At 7:40am CST Chicago Fed boss Evans will speak on the economy; Atlanta Fed’s Lockhart is set to talk about the economy at 8:00am CST; and Philly Fed boss Plosser will tackle the same topic at 11:30am CST.

*The Treasury plans to sell $21 billion re-opened 10 Year Notes today; the auction results will be announced just after noon CST.

*The Fed’s Beige Book is due to be released at 1:00pm CST.

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