Capitol Gains Stocks
Capitol Gains Stocks
What to Know Before Trading Today
*Stocks were generally lower in Asian trade. Shanghai was down almost two percent, Australia lost 1.2%, the Hang Seng and Nikkei were both down a fraction. European indexes are little changed at the moment; the Dax is currently flat and the Footsie down 0.2%. US stock futures are lower by a quarter percent as I write.
*The July reading of Japan’s Tertiary Industry Index is +1.7% on a month on month basis, more than double the expected increase.
*The Q2 reading of Switzerland’s Industrial Production was +5.7% on a quarter on quarter basis, a few tenths shy of the estimate.
*The August reading of UK Retail Sales was down 0.5% on a monthly basis, well short of the forecast for a gain of 0.3%.
*Three bits of data are due to be released at 7:30am CDT. The August reading of the Producer Price Index is expected to be up 0.3% on a month on month basis and the Core PPI forecast is +0.1%; the weekly report on Initial Jobless Claims, it is expected to be 458k; and the Q2 reading of the Current Account Balance is forecast to be a deficit of $125.0 billion. The Treasury will announce the net change in July of foreign holdings of long-term US securities at 8:00am CDT, known as the TIC data it is expected to be an increase of $47.5 billion. The September reading of the Philly Fed Business Activity Index is due out at 9:00am CDT, it is expected to improve to 0.3 from the surprise August decline to -7.7.
*There are two Fed speakers on the calendar today. Governor Duke will speak at a Chicago Fed event on mortgages at 8:30am CDT and Governor Tarullo will talk about the shadow banking system at 10:30am CDT.
*Treasury’s Geithner will be on Capitol Hill twice today, both sessions are about the Foreign Exchange market, most likely with a focus on China’s currency regime. He will testify before the Senate Banking Committee at 9:00am CDT and then talk to the House Ways and Means Committee at 1:00pm CDT. As if on que the Chinese Yuan rose to its strongest level versus the dollar since 1993, of course the move is less dramatic than I make it sound as the increase in its value against the dollar has only been a net change of about 0.6% in the last month.
*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is expected to show an increase of 95 bcf.
*The Fed is expected to buy Treasuries today that are due to mature between 3/15/12 and 2/28/13; the results will be announced just after 10:00am CDT.
For more information visit: http://www.worldmarketmedia.com/779/section.aspx/2389/post/what-to-know-before-trading-today
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Capitol gains: new research shows that firms’ political connections directly affect their share prices–even in nations as highly regulated as the US. … An article from: Financial Management (UK) $9.95 This digital document is an article from Financial Management (UK), published by Chartered Institute of Management Accountants (CIMA) on November 1, 2008. The length of the article is 1692 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsT… |
