The Day Ahead

Lou Brien |

*Stocks were mostly lower in Asian trade. The Nikkei fell 2.7%, Australia was down one and a half percent and the Hang Seng slipped 0.6%; Shanghai was an exception, it rose two percent. European indexes are on offer this morning, with the DAX down 2.6% and the Footsie off by 1.7% at the moment. US stock futures are moderately higher as I write.

*At least seven are dead, and others injured after an attack involving explosions and gunfire near a popular shopping mall in the Indonesian capital of Jakarta. No group has taken responsibility for the violence, but Indonesian officials say they recently received warnings that an attack by a group related to ISIS was being planned.

*The December reading of Australia’s Unemployment Rate is 5.8%; steady from the month before, but a tenth lower than the forecast. In December the net change in the number of Employed was -1.0k, a smaller drop than expected.

*The December reading of Japan’s Producer Price Index is -0.3% on the month and -3.4% on the year; both results were a tenth less deflationary than the estimates.

*In 2015 Germany’s non-seasonally adjusted GDP was 1.7%, a tenth higher than 2014.

*The Bank of England held steady on rates and stimulus at their meeting today, noting in particular a weaker inflation and GDP outlook. The vote was 8 to 1 to stand pat on rates, with Ian McCafferty voting in favor of a rate hike.

*The ECB account of their last policy meeting shows that some Governing Council members wanted a larger cut to the deposit rate and an increase to the amount of asset purchases; but others, as it turns out, didn’t see the case for it.

*The weekly report on Initial Jobless Claims is due out at 7:30am CST, it is expected to be 275k. Also due out at 7:30am is the December reading of the Import Price Index, it is forecast to be -1.3% on the month and -8.4% on the year. Additionally, the Philly Fed is going to release some revisions to their monthly report on business activity at 7:30am.

*The weekly report on Natural Gas inventories is due out at 9:30am CST, it is expected to show a decrease of 177 bcf.

*The Treasury plans to sell $13 billion reopened 30 Year Bonds today; the auction results will be announced just after noon CST.

*St. Louis Fed boss Bullard is scheduled to speak at 8:15am CST.

*JP Morgan reports that after a lot of plusses and minuses, such as the cost of litigation they beat the street with their quarterly earnings per share result; $1.40 is the number. Intel is among the other companies also due out with earnings today; they report after the close.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


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