Northern,WI 2/3/2012
(Streetbeat) -- Stocks were mixed in Asian trade. Shanghai was up three quarters of a percent and the Hang Seng was up a slight fraction, but the Nikkei lost a half percent and Australia fell 0.4% on the session. European indexes are mostly higher this morning, with the Footsie up 0.5% and the Dax up about 0.3%. US stock futures are up a slight fraction.
*The January reading of China’s non-manufacturing sector Purchasing Managers Index was down three points from the month before to 52.9; the loss took back half the December gain.
*The December reading of Euro Zone Retail Sales was -0.4% on a month on month basis, well short of the estimate for a gain of 0.3%.
*The January reading of the UK service sector PMI is 56.0, up two points on the month and better than the forecast for a fractional decline.
*Greece PM Papademos says debt talks are in the final phase(I think that he meant to say, the way things have gone the talks will probably always be in the final phase, the resolution is permanently imminent.)
*The January reading of the Employment Situation Report is due out at 7:30am CST. The Unemployment Rate is expected to remains steady on the month at 8.5%. The net change in total Non-farm Payrolls is forecast to be +140k and the estimate for the private sector payrolls is an increase of 160k. The Average Hourly Wages are forecast to be +0.2% on a monthly basis and the Average Work Week is expected to be steady at 34.4 hours. The January reading of the ISM Non-manufacturing Composite Index is due out at 9:00am CST, it is expected to be up a couple of tenths from the month before to 53.2. The December reading of Factory Orders is also due out at 9:00am, it is forecast to be +1.5% on a month on month basis.
*The Fed is scheduled to sell Treasuries that are due to mature between 5/15/12 and 11/30/12; the results of the operation will be announced just after 10:00am CST.