Thursday, June 28, 2012

3 Things to Know Before Trading

3 Things to Know Before TradingOrlando, FL 6/28/12 (StreetBeat) -- Stocks were mixed in Asian trade. The Nikkei was among the best with a gain of 1.65%, but Australia was unchanged and the Hang Seng fell 0.8% and Shanghai was about one percent lower. European indexes are also mixed this morning but the Dax and Footsie are both down one percent and three quarters of a percent respectively. US stock futures are down about a third of a percent as I write.

*The May reading of Japanese Retail Trade is +0.7% month on month, more than triple the expected gain.

*The final June reading of the Euro Zone Consumer Confidence was revised lower by two tenths to -19.8.

*The June reading of Germany’s Unemployment Rate is 6.8%, steady from the month before but that result was revised up by one tenth. The net change in the number of unemployed is +7k, but was forecast to be +3k.

*European leadership is set to arrive at their summit in Brussels beginning at 7:15am CDT. The occasional “out of the blue” newswire headline is possible at any time, such as: Merkel says EMU growth package is at the center of today’s agenda and EU source says summit to debate emergency aid to Spain and Italy and Finnish PM says no miracles at summit, must stick to rules.

*UK house prices fell 0.6% on a monthly basis in June, according to Nationwide; a one tenth increase was expected.

*The final reading of the UK Q1 GDP was unrevised at -0.3% on a quarter on quarter basis, but was revised down one tenth to -0.2% on a year on year basis.

*The Supreme Court ruling on the ObamaCare case is expected this morning.

*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 385k. The final reading of Q1 GDP is also due out at 7:30am CDT; no changes from the previous report are expected: GDP +1.9%; Personal Consumption +2.7%; Price Deflator +1.7%.

*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is expected to show an increase of 53 bcf.

*The June reading of the Kansas City Fed Manufacturing Activity Index is due out at 10:00am CDT, it is forecast to be 4; it was 9 in May.

*The Fed is scheduled to sell Treasuries today that are due to mature between 11/15/14 and 6/15/15; the results of the operation will be announced just after 10:00am CDT.

*The Treasury plans to sell $29 billion 7 Year Notes today; the auction results will be announced just after noon CDT.

*There are a couple of Fed speakers on the calendar today, including: Cleveland Fed’s Pianalto at 10:30am CDT and Dallas Fed boss Fisher at 6:00pm CDT.

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