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5 Things to Read Before Trading Today From the Desk of Lou Brien:Stocks were broadly higher in Asian trade overnight. The Nikkei led the way with a gain of 1.8% and the Hang Seng added 0.9%; but mainland China is closed for a holiday for the first few days of the week and Australia was off today for the Queen's birthday celebration. Europe is generally higher; the Dax currently has a one percent gain and the Footsie is up by about a half percent. Spain's IBEX has been trending lower for the last couple of hours after an early rally and is now down by one third of a percent. US stock futures are higher by about three quarters of a percent as I write. The Bank of Japan meets later today; no one expects any change in their 0.10% target rate to come from the Tuesday, local time, meeting. The May reading of Switzerland's Producer and Import Price Index was +0.3% on a month on month basis, well above the -0.1% expectation; the annualized rate of +1.4% was also stronger than forecast. The euro is quite strong this morning. The single currency is back above the key dollar/euro level of 1.2134, it is currently up by about 120 pips at 1.2230. There does not appear to be any...more
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