What to Know Before Trading Today

*Stocks were generally higher throughout Asia. The Hang Seng was up almost 1.5%, Shanghai gained 0.7% and the Nikkei and Australia added a fraction. European indexes are quite strong, with the Dax currently up 1.5% and the Footsie higher by one and a quarter percent. US stock futures up about three quarters of a percent as I write.

*The October reading of Australian Consumer Confidence rebounded to +3.3% after it had fallen sharply to -5.0% the month before, according to the Westpac survey.

*The September reading of China’s Balance of Trade was a surplus of $16.88 billion, a bit shy of the estimate of a surplus of $17.75 billion. Exports were up 25.1% from a year ago and Imports climbed 24.1% since last September.

*The Q3 reading of China’s Business Climate Index rose two points to 137.9, the highest result since Q2 2008.

*The August reading of Japan’s Machine Orders soared 10.1% on a month on month basis, well above the forecast for a decline of 3.9%.

*The September reading of Switzerland’s Producer and Import Price Index fell 0.1%, but had been expected to increase by that much. The annualized figure is +0.3%, one tenth under the forecast.

*The August reading of the UK Unemployment Rate was down one tenth on the month to 7.7%, it had been expected to remain at 7.8%. Also, the September reading of the net change in the number of jobless claimants was 5.3k, above the forecast for +4.5k.

*US mortgage applications were up 14.6% in the week ended October 8, according to the Mortgage Bankers Association; that ‘s the first gain in six weeks, but it was all down to Refinancing which rose 21%, while applications for Purchase fell 8.5% on the week.

*JP Morgan reports Q3 eps of +$1.01, well above the estimate for +88 cents, however Revenues were $23.82 billion, less than the $24.28 billion that was forecast.

*The September reading of the Import Price Index is due out at 7:30am CDT, it is expected to be -0.2% on a month on month basis.

*The weekly report on energy inventories is delayed until Thursday.

*The Treasury plans to sell $21 billion re-opened 10 Year Notes today, the results will be announced just after noon CDT.

*There are a couple of Fed speakers on the calendar today. Fed Chairman Bernanke is set to discuss business innovation in Pittsburgh at 3:10pm CDT and Richmond Fed boss Lacker will give a speech at 6:45pm CDT, no topic has been announced.