Monday, July 16, 2012

3 Things to Know Before Trading

3 Things to Know Before TradingNorthern, WI 7/16/12 (StreetBeat) -- Stocks were mixed in Asian trade, though Japan was closed due to a holiday. Shanghai fell one and three quarters percent, but Australia gained more than a half percent and the Hang Seng was up a slight fraction. European indexes are also mixed this morning, with the Dax and Footsie both off by a slight fraction. US stock futures are down about a quarter percent as I write.

*The Q1 reading of Swiss Industrial Production was much stronger than forecast; up 1.4% on a year on year basis but expected to be unchanged.

*The June reading of the Euro Zone Consumer Price Index is -0.1% on a monthly basis, one tenth under the estimate.

*Germany’s Constitutional Court will not rule on the legality of the ESM and fiscal pact until September 12, they said in an email statement today.

*A German government official said earlier today that Spain is liable for European aid to its banks.

*Citigroup is among the firms set to announce their earnings today; Citi says that on an adjusted basis their eps was +$1.00, versus the estimate for +89 cents.

*The July reading of the Empire State Manufacturing Index is due out at 7:30am CDT, it is expected to be 4.00, up from 2.29 the month before. Also due out at 7:30am is the June reading of Retail Sales. Headline Sales is expected to be up 0.2% on a month on month basis, and the estimate for Sales Ex-autos is 0.0% on the month. The May reading of Business Inventories is due out at 9:00am CDT, it is forecast to be +0.2% on the month.

*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/22 and 2/15/31; the results of the operation will be announced just after 10:00am CDT.

*KC Fed boss Esther George is set to speak on monetary policy and farmland values at 6:30pm CDT.

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