Wednesday, March 14, 2012

3 Things to Know Before Trading

3 Things to Know Before TradingOrlando, FL 3/14/12 (StreetBeat) -- Stocks were mixed in Asian trade. The Nikkei was among the best with a gain of one and a half percent and Australia was up 0.9%, but Shanghai fell 2.6% and the Hang Seng finished down a slight fraction. European indexes are broadly higher this morning, with the Dax up by 1.2% and the Footsie better by 0.4%. US stock futures are unchanged as I write.

*The final January reading of Japanese Industrial Production was revised down one tenth to +1.9% on a monthly basis.

*The February reading of the Euro Zone Consumer Price Index was +2.7% on a year on year basis, matching the estimate published earlier in the month; it’s the third time in a row it has been at that level

*The March reading of Switzerland’s ZEW Survey of Economic Expectations jumped up to 0.0 from -21.2 the month before, it is the highest result since last April.

*The January reading of the UK Unemployment Rate was steady at 8.4%, as expected. In February the net change in the number of jobless claims was +7.2k, slightly more than forecast.

*US mortgage applications were down 2.4% in the week ended March 9, according to the Mortgage Bankers Association. Applications for Purchase rose 4.4% in the latest week, but those for Refinancing fell 4.1%.

*The February reading of the Import Price Index is due out at 7:30am CST; it is expected to be +0.6% month on month. Also due out at 7:30am is the Q4 reading of the Current Account Balance; it is forecast to be a deficit of $115.0 billion.

*Fed boss Bernanke is set to speak to a group of community bankers at 8:00am CST; he will likely focus on issues related to his audience and not be market moving.

*The weekly report on energy inventories is due out at 9:30am CST. Stocks of Crude Oil are forecast to increase 1.6 million barrels, Gasoline inventories are expected to decline 1.0 million and the estimate for Distillates is -1.5 million.

*The Fed is scheduled to buy TIPS today that are due to mature between 7/15/18 and 2/15/42; the results of the operation will be announced just after 10:00am CST.

*The Treasury plans to sell $13 billion re-opened 30 Year Bonds today; the auction results will be announced just after noon CST.

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