3 Things to Know Before Trading

Shawshank, VA 4/24/12 (StreetBeat) -- Stocks were mixed in Asian trade. The Nikkei fell three quarters of a percent, but the Hang Seng rose a quarter percent while Australia and Shanghai were up a slight fraction. European indexes are generally higher this morning, with the Dax up two thirds of a percent and the Footsie better by 0.4%. US stock futures are up about a quarter of a percent as I write.

*The Q1 reading of Australia’s Consumer Prices is +0.1% on a quarter on quarter basis, well below the expectation for a 0.6% increase. The annualized rate also undershot the forecast at +1.6%, or six tenths under the estimate.

*The final February reading of Japan’s Leading Economic Index was revised down three tenths to 96.3, but that still puts it at the highest level since February 2008.

*The March reading of Switzerland’s Trade Balance was a surplus of SF1.69 billion, well below the expected surplus of SF3.0 billion and down almost one billion francs from the month before. Imports were up 4.6% from February, but Exports were down 2.5% on the month.

*Auctions of short term debt, all maturities fall within the LTRO time frame, went relatively well in the Netherlands, Italy and Spain.

*The Bank of Greece now sees 2012 GDP at about -5.0%, worse than previously expected. They warn that the recession will have a negative impact on the Greek deficit and make their debt targets harder to hit.

*The weekly report on chain store sales from ICSC were up 0.8% on a week on week basis for the week ended April 21. The Johnson Redbook report on the same thing is due out at 7:55am CDT.

*The February reading of the Case/Shiller Home Price Index is due out at 8:00am CDT, it is expected to be -3..40% on a year on year basis, but the seasonally adjusted monthly change is forecast to be up 0.2%. There are three bits of data due out at 9:00am CDT, including: the April reading of Consumer Confidence, expected to be down five tenths from the month before to 69.7; the March reading of New Home Sales which is forecast to be up 1.6% on the month at an annualized rate of 318k units; and the FHFA House Price Index, estimated to be +0.1% month on month.

*The Fed is scheduled to buy Treasuries today that are due to mature between 4/30/18 and 2/15/20; the results of the operation will be announced just after 10:00am CDT.

*The FOMC begins their two day policy meeting today, with results not due until tomorrow.

*Apple is among the companies set to report their earnings today; they will be out with results after the stock market close.

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