3 Things to Consider When Trading Today

Northern, WI 4/18/12 (StreetBeat) -- Stocks were broadly higher in Asian trade. The Nikkei was among the best with a gain of more than two percent, Shanghai was up almost two percent, Australia added 1.4% and the Hang Seng rose about one percent. European indexes are generally lower on the day, with the Dax off by 1.1% and the Footsie lower by a half percent; Spain is down more than three percent this morning and is down more than sixteen percent this year. US stock futures are down a slight fraction as I write.

*The April reading of Switzerland’s ZEW Survey of Expectations of Economic Growth was up a couple points on the month to 2.1; the highest mark since last April.

*When they last met the Bank of England saw some risk that inflation may be more persistent than they had previously forecast, according to the minutes from their latest meeting. But they also saw a risk of a recession this year.

*China Premier Wen Jiabao, on state TV this morning, reiterated his support for Europe, the euro and IMF after a phone conversation with German Chancellor Merkel.

*The February reading of the UK Unemployment Rate was down one tenth from the month before to 8.3%; a steady reading had been forecast. In March the net change in the number of jobless claims was up 3.6k, only about half the expected gain.

*US mortgage applications were up 6.9% in the week ended April 13, according to the Mortgage Bankers Association. It was Refinancing that led the way with an increase of 13.5%; applications for Purchase were down 11.2% on the week.

*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to increase 1.8 million barrels, Gasoline inventories are expected to decline 1.1 million and the estimate for Distillates is -125k.

*The Fed is scheduled to sell and buy Treasuries today. They will sell Treasuries that are due to mature between 7/15/13 and 1/31/14; the results of this operation will be announced just after 10:00am CDT. They will buy Treasuries that are due to mature between 5/15/20 and 2/15/22; the results of this operation will be announced just after 1:00pm CDT.

*FinMins and central bankers are starting to gather in DC for the various G20, IMF and World Bank meetings later this week. Be aware that these officials have never passed a microphone without stopping to test it, so the occasional unscheduled headline is inevitable.

StreetBeat Disclaimer

Distributed by Viestly