6 Things To Read Before Trading Today

6 Things To Read Before Trading Today

6 Things To Read Before Trading Today

From the Desk of Lou Brien:

Stocks were broadly higher in Asian trade. The Nikkei rose 1.7%, Australia was up 1.6%, the Hang Seng added 1.2% and Shanghai was up a fraction. European indexes are generally higher as well; the Footsie is currently higher by 0.7% but the Dax is unchanged. US stock futures are essentially unchanged as I write.

There was a lot of data out in China overnight, including: Producer Price Index +7.1% year on year, three tenths more than forecast; Consumer Price Index +3.1% year on year, one tenth more than expected; Retail Sales +18.7% from year ago, two tenths better than the estimate; and Industrial Production +16.5% annualized, a half percent under the expectation.

The May reading of Germany's Wholesale Price Index is +0.3% on a month on month basis; it had been expected to rise 0.2%.

The May reading of the UK Producer Price Index fell 0.6% on a month on month basis, a decline of 1.0% was the forecast.*The April reading of UK Industrial Production was surprisingly weak, it fell 0.4% on the month, it had been expected to increase 0.4%.

The May reading of Retail Sales is due out at 7:30am CDT. Headline Sales are expected to rise 0.2% on a monthly basis and the estimate for Sales Ex-autos is +0.1%. The preliminary June reading of consumer sentiment from the University of Michigan is due out at 8:55am CDT, it is forecast to be 74.5, up about a point from the month before. The April reading of Business Inventories is due out at 9:00am CDT, it is expected to be +0.5%.

There are two Fed speakers on the calendar today. Philly boss Plosser is scheduled to talk about the economic outlook at 7:20am CDT and Minneapolis Fed's Kocherlakota will speak on the economy at 11:00am CDT.

To view this article at World Market Media click on the link below:

http://www.worldmarketmedia.com/779/section.aspx/1804/post/6-things-to-read-before-trading-today

Disclosure: no positions

POST COMMENT

Facts about Tradinglounge.com.au Members Quarterly Options Trading Results ArcSight, Inc. (NASDAQ: ARST) Trading at +22.15% After Reporting Promising 4th Quarter Results Become Successful Trader From Futures Trading and CFD Trading Making Trading Pins Best Fapturbo Settings - Adjustments for Reduced Risk Trading With Fap-turbo day trading chart as you may already know Emini Day Trading and determining trend direction System Trading Upgrading to Trading options 3 Things to Know For Today's Trading Share Trading Specifics Related To Kinds Accounts Trading Master Plan