Orlando, FL 2/7/12 (StreetBeat) -- Stocks were mostly lower in Asian trade. Shanghai lost one and two thirds of a percent, Australia lost a half percent, while the Nikkei and Hang Seng were both off by a slight fraction. European indexes are generally lower this morning, with the Dax down one percent and the Footsie lower by about 0.6%. US stock futures are down a slight fraction as I write.*The Reserve Bank of Australia surprised many by leaving their cash rate target unchanged at 4.25%, a quarter point reduction was expected. They say they have the scope for easing if demand weakens and economic conditions have softened, but they think the current policy is appropriate.
*The December reading of German Industrial Production was much weaker than forecast; down 2.9% on a month on month basis, but it was expected to be unchanged on the month.
*Greece talks are ongoing; one might say they drag on…and on.
*The weekly report on chain store sales from ICSC showed an increase of 1.8% on a week on week basis for the week ended February 4. The Johnson Redbook report on the same thing is due out at 7:55am CST.
*Fed boss Bernanke is scheduled to testify at 9:00am CST before the Senate Budget Committee.
*The Fed is scheduled to sell TIPS today that are due to mature between 7/15/12 and 1/15/15; the results of the operation will be announced just after 10:00am CST.
*The Treasury plans to sell $32 billion 3 Year Notes today; the auction results will be announced just after noon CST.
*The December reading of Consumer Credit is due out at 2:00pm CST, it is expected to be an increase of $7.0 billion.
StreetBeat Disclaimer
No comments:
Post a Comment