*Stocks were well bid in Asian trade. Shanghai was up four and a quarter percent, the Nikkei rose 4.1%, the Hang Seng was three percent higher and Australia added two percent. European indexes are mixed this morning, with the DAX up 0.3% and the Footsie down 0.3%. US stock futures are modestly lower as I write.
*The Q4 reading of Australia’s GDP is +0.6% quarter on quarter, which is two tenths stronger than forecast. On a year on year basis the GDP is +3.0%, five tenths better than the estimate.
*Moody’s revised its outlook for China from stable to negative. Moody’s currently rates China at Aa3, the fourth highest rating.
*The January reading of the Euro Zone’s Producer Price Index is -1.0% on the month and -2.9% on the year; both results matched the estimates.
*The Q4 reading of Switzerland’s GDP is +0.4% on a quarterly basis and +0.4% year on year; both measures were expected to be +0.1%.
*US mortgage applications were down 4.8% in the week ended February 26, according to the Mortgage Bankers Association. Applications for Purchases were -0.6% on the week and those for Refinancing were down 7.2%.
*ADP is set to release at 7:15am CST its estimate of the net change in private sector payrolls in February, it is expected to be +190k.
*The weekly report on energy inventories is due out at 9:30am CST. Stocks of Crude Oil are forecast to increase 3.4 million barrels, Gasoline inventories are expected to decline 1.5 million and the estimate for Distillates is -1.15 million.
*SF Fed boss Williams is scheduled to speak at 10:00am CST.
*The Fed Beige Book is due to be released at 1:00pm CST.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. 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: http://www.equities.com/disclaimer
Source: Equities.com News
(March 2, 2016 - 2:59 AM EST)
News by QuoteMedia
www.quotemedia.com
