March 9, 2016 - 2:51 AM EST
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Overnight News Finds US Stocks and Oil Higher

*Stocks were mixed in Asian trade. Shanghai fell 1.3%, the Nikkei was down 0.8%, but the Hang Seng was flat and Australia was up about one percent. European indexes are bid this morning, with the DAX up 1.4% and the Footsie better by three quarters of a percent at the moment. US stock futures are up a half percent.

*The January reading of UK Industrial Production is +0.3% month on month, a tenth better than forecast.

*US mortgage applications were up 0.2% in the week ended March 4, according to the Mortgage Bankers Association. Applications for Purchases were up 4.2% on the week, but those for Refinancing were down 2.3%.

*The Bank of Canada monetary policy decision is scheduled to be announced at 9:00am CST; no change in the 0.50% overnight lending rate is anticipated.

*The January reading of Wholesale Inventories is due out at 9:00am CST, it is expected to be -0.2% month on month; Wholesale Sales are forecast to be down 0.3% on the month.

*The weekly report on energy inventories is due out at 9:30am CST. Stocks of Crude Oil are forecast to increase 3.5 million barrels, Gasoline inventories are expected to decline 3.5 million and the estimate for Distillates is +900k.

*The Treasury plans to sell $20 billion reopened 10 Year Notes today; the auction results will be announced just after noon CST.

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Source: Equities.com News (March 9, 2016 - 2:51 AM EST)

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