Tallahassee, FL 2/17/12 (StreetBeat) -- Stocks were mostly higher in Asian trade. The Nikkei was among the best with a gain of one and a half percent, the Hang Seng rose one percent and Australia was up a third of a percent, but Shanghai was unchanged. European indexes are broadly higher with the Dax up 1.4% and the Footsie better by a half percent. US stock futures are up a slight fraction as I write.*The January reading of Germany’s Producer Price Index was up 0.6% on the month, twice the expected increase.
*Greece debt swap deal on Monday; could be, it’s possible, might happen…stay tuned.
*The January reading of UK Retail Sales was surprisingly strong at +0.9% month on month, a decline of 0.3% was the estimate.
*The January reading of the Consumer Price Index is due out at 7:30am CST. The headline CPI is expected to be +0.3% on a month on month basis and the estimate for the Core CPI is +0.2% on the month. The annualized CPI rates are forecast to be +2.8% and +2.2% respectively. The January reading of the Leading Economic Indicators is due out at 9:00am CST, it is expected to be +0.5%.
*The Fed is scheduled to buy Treasuries today that are due to mature between 2/28/18 and 2/15/20; the results of the operation will be announced just after 10:00am CST.
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