What to Know before Trading Today
*Stocks were generally higher in Asian trade, with a couple of key exceptions
. Shanghai led the way up with a gain of 1.7% and the Nikkei added almost 0.4%, but the Hang Seng and Australia were both a fraction lower. European indexes are mixed, but the Footsie is up 0.7% and the Dax is currently higher by a quarter percent. US stock futures are up about a third of a percent as I write.*The September reading of the Reserve Bank of Australia's Commodity Price Index fell two points to 97.2, the first monthly decline since March.
*The September reading of China's manufacturing sector Purchasing Managers Index rose two points to 53.8, well above the forecast of 52.5.
*The August reading of Japan's Jobless Rate fell one tenth to 5.1%, matching the expectation.
*The August reading of Japan's Consumer Price Index, ex-fresh food, is -1.0% on a year over year basis, as forecast. The September reading of the same inflation measure for Tokyo also hit the estimate at -1.0% year on year.
*The August reading of German Retail Sales fell short at -0.2% on a month on month basis, it had been expected to increase 0.4%.
*The final September reading of Germany's manufacturing sector PMI was revised down two tenths from the preliminary report to 55.1; it is the lowest result since January.
*The August reading of Swiss Retail Sales were +0.5% on a year over year basis, well down from the +4.7% rate seen in July.
*The September reading of Switzerland's PMI fell to 59.7 from 61.4 in August, missing the forecast of 60.7.
*The September reading of the UK manufacturing sector PMI is 53.4, down a few tenths from the month before and below the expected 53.8.
*The August reading of Personal Income and Spending is due out at 7:30am CDT. Income is expected to rise 0.3% on a month on month basis and the estimate for Spending is also +0.3%. The PCE Core inflation rate is forecast to be up 0.1% on the month and remain at +1.4% on a year over year basis. The final September reading of consumer sentiment from the University of Michigan is due out at 8:55am CDT, it is expected to rise four tenths from the preliminary report to 67.0; it was 68.9 in August. The September reading of the ISM Manufacturing Index is due out at 9:00am CDT, it is expected to be 54.5, it was 56.3 the month before an the estimate for the Prices Paid component is 59.0, down two and a half points from August. Also due out at 9:00am is the August reading of Construction Spending, it is forecast to be -0.4% on the month.
*The auto industry is set to release its September sales results today, the estimate for total vehicle sales is an annualized rate of 11.50 million units, up slightly from the August result of 11.46 million units.
*Three Fed speakers are on the calendar today. NY Fed boss Dudley will speak to a group of business journalists at 7:30am CDT; Chicago Fed's Evans is in Rome to talk about the future of monetary policy at 10:30am CDT; and Dallas Fed's Fisher will comment on the US economy and monetary policy at the Vancouver Board of Trade at 2:15pm CDT.
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What to Know before Trading Today
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