Northern, WI 1/26/2012
(Streetbeat) -- Stocks were mixed in Asian trade. The Hang Seng was among the best with a gain of 1.6%, but the Nikkei fell 0.4%. Mainland China is still closed and so too was Australia today. European indexes are broadly higher this morning, with the Dax and Footsie both up by more than one percent. US stock futures are up about a third of a percent.
*The dance of the Greek debt talks continues without resolution. However, Portugal is vying for attention. Yield spreads for Portuguese debt traded at EMU era wides earlier today and the ECB has had to step in to buy their debt today to keep the situation from getting Grecian.
*The December reading of the Chicago Fed National Activity Index is due out at 7:30am CST, it is expected to be -0.10; it was -0.37 in November.
*The weekly report on Initial Jobless Claims is due out at 7:30am CST, it is expected to be 370k. Also due out at 7:30am is the December reading of Durable Goods Orders. Headline Orders are forecast to be +2.0% on the month and the estimate for Orders ex-transportation is +0.9% month on month. The December reading of New Home Sales is due out at 9:00am CST, it is expected to be up 1.9% from the month before to an annualized sales rate of 321k units. Also due out at 9:00am is the December reading of the Leading Economic Indicators, forecast to be +0.7%.
*The Chicago Purchasing Managers Index is going to release its 2011 benchmark revisions at 8:45am CST.
*The weekly report on inventories of Natural Gas is due out at 9:30am CST, it is forecast to show a decrease of 175 bcf.
*The January reading of the Kansas City Fed Manufacturing Activity Index is set to be released at 10:00am CST, it is expected to be 2; it was -4 in December.
*The Fed is scheduled to buy Treasuries today that are due to mature between 2/15/36 and 11/15/41; the results of the operation will be announced just after 10:00am CST.
*The Treasury plans to sell $29 billion 7 Year Notes today; the auction results will be announced just after noon CST.