3 Things to Know Before Trading

Northern, WI 3/22/12 (StreetBeat) -- Stocks were mixed, but mostly little changed, in Asian trade. Australia was up almost a half percent, the Nikkei added 0.4% and the Hang Seng rose 0.2%, but Shanghai was off by a slight fraction. European indexes are broadly lower this morning with the Dax down about 1.4% and the Footsie lower by 0.9%. US stock futures are lower by a bit more than a half percent as I speak.

*The preliminary March reading of China’s manufacturing sector Purchasing Managers Index was down 1.5 points on the month at 48.1, according to HSBC; it is the fifth straight monthly result below fifty, signaling contraction.

*The February reading of Japan’s Merchandise Trade Balance was an unexpected surplus of Y32.9 billion, on an unadjusted basis. On a seasonally adjusted basis Trade was a deficit of Y313 billion. Imports were up 9.2% on a annualized basis, but Exports fell 2.7%. which, however was less of a decline than forecast.

*The preliminary March readings of the Euro Zone’s manufacturing sector PMI is was down 1.3 points from the month before to 47.7, it had been expected to rise fractionally; it is the eighth sub-fifty mark in as many months. The service sector PMI fell one tenth from the month before to 48.7, a slight gain was forecast; the result is the sixth sub-fifty in the last seven months.

*The preliminary March readings of Germany’s manufacturing sector PMI fell more than two points from the month before to 48.1; it had been expected to increase eight tenths. Their service sector PMI is was down one point on the month to 51.8, falling short of the 53.1 estimate..

*The February reading of Switzerland’s Trade Balance was a surplus of SF2.68 billion, almost one billion larger of a surplus than forecast; Exports gained 9.2% from the month before, while Imports were down by more than twelve percent on the month.

*The February reading of UK Retail Sales was a few tenths under the estimate, they were down 0.8% month on month.

*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 350k. The January reading of the FHFA House Price Index is due out at 9:00am CDT, it is forecast to be +0.3% on a month on month basis. Also due out at 9:00am is the February reading of the Leading Economic Indicators; estimated to be up 0.6% from the month before.

*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is expected to show an increase of 9bcf.

*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 CDT.

StreetBeat Disclaimer

Distributed by Viestly