Palm Beach, FL 7/6/12 (StreetBeat) -- Stocks were mixed in Asian trade. Shanghai rose one percent on the day, but the Nikkei fell two thirds of a percent, Australia was down a quarter percent and the Hang Seng was unchanged. European indexes are mostly lower this morning, with the Dax off by almost a third of a percent but the Footsie is essentially unchanged. US stock futures are down a slight fraction as I write.*The May reading of Germany’s Industrial Production is +1.6% on a month on month basis, well above the estimate for +0.2%.
*The June reading Switzerland’s Consumer Price Index is -0.3% on a monthly basis, and -1.1% year on year; both results were one tenth more deflationary than forecast.
*The June reading of the UK Producer Price Index was -2.2% on a monthly basis, one tenth lower than forecast.
*There is some unsubstantiated chatter about an impending downgrade for Spain. Concerns for the country get a bit more acute whenever their 10 Year yield rises near seven percent, as it is this morning; up more than twenty-five basis points or so.
*The June reading of the Employment Situation Report is due out at 7:30am CDT. The Unemployment Rate is expected to be steady at 8.2%; the total Non-farm Payrolls are forecast to be +100k and the estimate for the Private Sector is +106k; the Average Hourly Wages is expected to be +0.2% on a monthly basis; and the Average Work Week estimate is steady on the month at 34.4 hours.
*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is expected to show an increase of 43 bcf.
*The Fed is scheduled to sell Treasuries today that are due to mature between 1/15/13 and 6/30/13; there results of the operation will be announced just after 10:00am CDT.
StreetBeat Disclaimer
No comments:
Post a Comment