Thursday, October 28, 2010

5 Things To Know Before Trading

*Stocks were mixed and generally little changed in Asian trade. The Nikkei and Shanghai were a fraction lower, the Hang Seng a fraction higher and Australia had a gained of 0.8%. European indexes are mostly higher, with the Footsie and Dax both up by a half percent give or take. US stock futures are up by a fraction.

*The September reading of Japanese Retail Trade was significantly weaker than forecast. On a month on month basis Retail Trade was down 3.0%, versus an expected decline of only 0.5%.

*The Bank of Japan policy committee kept all things steady; their key rate remains at 0.10% as did the size of its asset purchase and credit loan programs, no change in the rate or policy stance was expected.

*In October UK house prices fell 0.7% from the month before, according to Nationwide; the price drop was larger than the expected -0.3% and on a year over year basis prices were up only 1.4%, below the estimate of a gain of 2.3%.

*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 455k.

*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is forecast to show an increase of 73 bcf.

*The Fed is scheduled to buy Treasuries today that are due to mature between 4/15/12 and 3/31/13; the results of the operation will be announced just after 10:00am CDT.

*The October reading of the Kansas City Fed Production Index is due out at 10:00am CDT; there is no available estimate.

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

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