1. Stocks were mixed in Asian trade. The Hang Seng gained 1.2% and Shanghai added a half percent, but Australia lost a third of a percent and the Nikkei was down fractionally. European indexes are chopping around either side of unchanged, but the Footsie and Dax are both currently showing a fractional gain. US stock futures are trading higher by three quarters of a percent, or more, as I write. 
  2. The preliminary January reading of Japan’s Machine Tool Orders were up 192% on a year over year basis, a gain that is at least triple the best annualized gain ever seen in this data series. This is mostly due to the very poor results seen a year ago, but orders from foreign accounts, up by almost three hundred percent is a good sign.
  3. The December reading of Germany’s Trade Balance showed a smaller surplus than forecast, but exports were better than expected with a gain of three percent, the fourth month gain in a row.
  4. The final January reading of the German EU harmonized CPI were revised up a tenth to -0.6% on a month to month basis and up a tenth to +0.8% year over year.
  5. ECB boss Trichet’s decision to return one day earlier than previously planned from meetings in Australia in order to be present at a summit meeting of EU leaders has fueled speculation that there is a Greek rescue plan in the works. The EU session to discuss Greece’s fiscal plan is set for February 11. The dollar/euro has a bid from this speculation and is now trading more than 100 pips higher on the day.
  6. The January reading of the NFIB Small Business Optimism Index rose 1.3 points to 89.3; that’s the first rise in three months but is the highest result in 16 months. 
  7. The weekly report on chain store sales from ICSC showed that sales were up 1.4% on a week to week basis for the week ended February 6, citing a positive effect from the Super Bowl. Sales were +1.8% for the week when compared to the same week from a year ago. The Johnson Redbook report on the same thing is due out at 7:55am CST. 
  8. The December reading of Wholesale Inventories is due out at 9:00am CST, it is expected to be +0.5%. 
  9. The February reading of the IBD/TIPP Economic Optimism Index is due out at 9:00am CST; there is no estimate for the result, it was 48.8 in January.
  10. The Treasury plans to sell $40 billion 3 Year Notes today, the results will be announced just after noon CST.