Shawshank, VA 6/13/12 (StreetBeat) -- Stocks were mostly higher in Asian trade. Shanghai added one and a quarter percent, the Hang Seng was up 0.8% and the Nikkei was up 0.6%; however Australia was down a slight fraction. European indexes are generally lower on the day, with the Dax off a half percent and the Footsie down a slight fraction; but Spain is up about one percent. US stock futures are down a slight fraction as I write.
*The June reading of Australian Consumer Confidence rose three tenths from the month before to 95.6, according to Westpac; it’s the second increase in a row after falling earlier in the year.
*The April reading of Japan’s Machine Orders was +5.7% on a monthly basis; the increase was more than three times as big as the forecast.
*The final May reading of Germany’s Consumer Price Index on an EU harmonized basis was revised up a tenth to -0.2% month on month and revised up one tenth to +2.2% year on year.
*The May reading of Switzerland’s Producer and Import Prices was weaker than expected at -0.2% month on month and -2.3% annualized.
*US mortgage applications were up 18.0% in the week ended June 8, according to the Mortgage Bankers Association. Both sectors rose; applications for purchase were up 12.8% and those for refinancing increased 19.2%.
*The May reading of the Producer Price Index is due out at 7:30am CDT. The headline PPI is expected to be -0.6% month on month and the estimate for the Core PPI is +0.2% on a monthly basis. Also due out at 7:30am is the May reading of Retail Sales. Headline Sales are forecast to be down 0.2% from the month before and the estimate for Sales Ex-autos is 0.0% month on month. The April reading of Business Inventories is due out at 9:00am CDT, it is expected to be +0.3% on the month.
*JPM boss Dimon is set to testify about his bank’s trading record on Capitol Hill this morning at 9:00am CDT.
*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to decline 1.5 million barrels, Gasoline inventories are expected to increase 1.4 million and the estimate for Distillates is +1.175 million.
*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/20 and 5/15/22; the results of the operation will be announced just after 10:00am CDT.
*The Treasury plans to sell $21 billion re-opened 10 Year Notes today; the auction results will be announced just after noon CDT.