5 Things To Know Before Trading

5 Things To Know Before Trading

5 Things To Know Before Trading

*Stocks in Asia were generally lower on the session. The Nikkei added a fraction, but the Hang Seng lost more than 1.8%, Shanghai was off one and a half percent and Australia fell 0.8%. European indexes are mostly higher by a bit; the Dax is higher by a fraction but the Footsie is a notable exception as it is trading lower by 0.4%. US stock futures are down by a third to a half percent.

*The Q3 reading of Australia's Consumer Price Index was +0.7% on a quarter on quarter basis, one tenth below the forecast. The annualized rate was also one tenth under the estimate at +2.8%.

*German states are releasing the October reading of their Consumer Price Index today, some of the results include: Saxony, 0.0% on the month and +1.4% annualized; Brandenburg, 0.0% and +1.0%; Hesse -0.1% and +1.0%; and Bavaria +0.1% and +1.4%. The national CPI will be released later this morning, it is expected to be +0.1% on a month over month basis and +1.3% year over year.

*US mortgage applications rose 3.2% in the week ended October 22, according to the Mortgage Bankers Association. Both components increased on the week; Purchases +3.9% and Refis +3.0%.

*The September reading of Durable Goods Orders is due out at 7:30am CDT. Headline Orders are expected to increase 2.0% on the month and Orders less transportation are forecast to rise 0.5% from the month before. The September reading of New Home Sales are due out at 9:00am CDT; the estimate for Sales is an annualized rate of 300k units, which would be +4.2% from the pace set in August.

*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to increase 1.25 million barrels, Gasoline inventories are expected to rise 750k and the estimate for Distillates is -1.5 million.

*The Treasury plans to sell $35 billion 5 Year Notes today, the results of the auction will be announced just after noon CDT.

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