4 Opening Data Points

Stocks were mixed in Asian trade overnight. The Nikkei lost 0.8% on Tuesday, but Australia and Shanghai were essentially unchanged and the Hang Seng gained about a quarter percent. European indexes are however broadly lower on the session, with the Footsie off by about 0.8% and the Dax is currently lower by about two thirds of a percent. US stock futures are down by about 0.6%.

*In Australia the Labor Party and Prime Minister Julia Gillard has held on to power after two independents agreed to support them and finally resolve the closest election in that country in seventy years.

*Australia’s central bank kept their key rate steady at 4.50% after a policy meeting overnight. They say they extended the pause in the rate hike cycle “for the time being” over concern of a faltering global economic recovery.

*The Bank of Japan also kept their target rate steady at 0.10%, as was widely expected. BoJ boss Shirakawa says the bank won’t rule out any policy options and that they continue to monitor the impact of the strong yen on the economy.

*The July reading of German Factory Orders was much weaker than forecast, coming in at -2.2% on a month on month basis versus the expectation of a rise of 0.5%.

*The Wall Street Journal reports that the EU stress test results understated the bank’s holdings of European sovereign debt.

*The August reading of Switzerland’s Unemployment Rate was 3.8%; this was steady from the month before but one tenth above the forecast.

*The Fed is expected to buy Treasuries today that are due to mature in 2014 through 2016. The results of the operation are due to be announced just after 10:00am CDT.

*The Treasury plans to sell $33 billion 3 Year Notes today, the results will be announced just after noon CDT.