Tallahassee, FL 2/1/12 (StreetBeat) -- Stocks were mixed in Asian trade. Shanghai was among the worst with a decline of one percent, Australia fell about 0.9% and the Hang Seng was down a quarter percent, but the Nikkei added a slight fraction. European indexes are broadly higher, with the Dax up two and a half percent and the Footsie better by one and a half percent. US stock futures are up at least three quarters of a percent as I write.*The January reading China’s manufacturing sector Purchasing Managers Index was up two tenths on the month to 50.5, better than the fractional decline that was expected.
*The preliminary reading of Germany’s EU harmonized CPI was -0.5% on the month and +2.3% year on year; both results were one tenth under the forecasts.
*The final January reading of Germany’s manufacturing sector PMI was revised up one tenth to 51.0.
*The January reading of Switzerland’s manufacturing sector PMI was much weaker than expected, it fell two points to 47.3, but had been forecast to increase to 51.2.
*The January reading of the UK’s manufacturing sector PMI was well above the estimate, at 52.1; this was expected to improve only fractionally to 50.0.
*They are still talking in Greece…
*US mortgage applications were down 2.9% in the week ended January 27, according to the Mortgage Bankers Association; both key components fell slightly on the week.
*ADP is scheduled to release at 7:15am CST their estimate for the net change in January for private sector non-farm payrolls, it is expected to be +182k. The January reading of the ISM Manufacturing Index is due out at 9:00am CST, it is forecast to be 54.5, up from a revised lower December result of 53.1; the Prices Paid component is expected to be up 2.5 points to 50.0. The December reading of Construction Spending is also due out at 9:00am, it is expected to be up 0.5% on the month.
*The Treasury is scheduled to announce at 8:00am CST the details for next week’s refunding auctions of 3 Year and 10 Year Notes and 30 Year Bonds.
*The weekly report on energy inventories is due out at 9:30am CST. Stocks of Crude Oil are forecast to increase 2.6 million barrels, Gasoline inventories are expected to rise 500k and the estimate for Distillates is -1.375 million.
*The automakers are set to release their January vehicle sales results today; total vehicle sales are anticipated to be an annualized rate of 13.50 million units.
*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/22 and 2/15/31; the results of the operation will be announced just after 10:00am CST.
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