Stocks were mixed in Asian trade. Australia was among the best with a gain of 0.8%, the Nikkei added 0.7% and Shanghai was up a quarter percent, but the Hang Seng fell a fraction on the session. European indexes are modestly higher, with the Footsie currently up about 0.6% and the Dax higher by a quarter percent. US stock futures are fractionally higher.
*In the second quarter Australian business investment unexpectedly fell 4.0%, this had been forecast to expand by 2.3%. Additionally the previous quarter was revised down to -1.0% from -0.2%.
*The Q2 reading of Switzerland’s Employment level was up 0.6% to 3.968 million; both results were a touch shy of the forecast.
*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 490k.
*The Mortgage Bankers Association is scheduled to release some data on Q2 mortgage delinquencies and foreclosures at 9:00am CDT.
*The Fed is expected to buy Treasuries again today, maturities ranging from February 15, 2021 to August 15, 2040; the results should be out just after 10:00am CDT.
*The weekly report on inventories of Natural Gas is due to be released at 9:30am CDT, it is expected to show an increase of 38 bcf.
*The August reading of the Kansas City Fed Production Index is due out at 10:00am CDT. Usually nobody pays attention to this report but because of the recent weakness in these regional Fed reports it might get more notice than it normally does.
*The Treasury plans to sell $29 billion 7 Year Notes today, the results will be announced just after noon CDT.
*FedHeads begin gathering in Jackson Hole today for the annual weekend long fest. Bernanke is scheduled to speak at 9:00am CDT on Friday.
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