Stocks up as Japan data shows glimmer of vitality

Global stocks were mostly higher Thursday after Japan reported a surprise rise in machinery orders as investors looked ahead to the latest U.S. employment and retail sales data. 

Looking at the scores, Germany's DAX rose 1 per cent to 9,300.33 and France's CAC-40 gained 0.9 per cent to 4,216.07. Britain's FTSE 100 showed a rise of 0.3 per cent to 6,631.50. Wall Street was set for gains after Wednesday, breaking a five day streak of record highs with a slight decline. Dow futures were up 0.2 per cent to 17,617 and S&P 500 futures gained 0.3 per cent to 2,041.10 Stock Market Trading Tips

The data from Japan shows that machinery orders rose in October as a sign of growing investment. Excluding shipbuilding and electricity, orders rose by 2.9 per cent as compared to the previous month, defying predictions of a decline. The data is a positive sign for Japan's economy, which has struggled to bounce back from a sales tax hike in April. 

In Japan, "capital spending should start to recover soon," said Marcel Thieliant of Capital Economics in a report. With the Shoko Chukin survey showing capacity usage at small firms at their highest since 2009, he said, "this measure points to a solid expansion in spending on machinery and equipment Intraday Trading Tips

The growth was not just seen in Japan but was recorded across Asia with a few exceptions. Tokyo's Nikkei 225 gained 1.1 per cent to 17,392.79 while China's Shanghai Composite Index fell 0.4 per cent to 2,485.61. Hong Kong's Hang Seng rose 0.3 per cent to 24,019.94. Taiwan and Singapore rose while India and Seoul fell. 

As far as the US economy is concerned, investors are looking forward to figures on job openings and unemployment benefit claims due later today. October retail sales data are due on Friday. Forecasters expect the Commerce Department to say sales rose by 0.2 per cent after falling in September Commodity Trading Tips

Going over to Europe, investors watched inflation data which came out today from larger members of the euro common currency area. Price rise below 1 per cent were expected in Germany and France, with a slight decline in Spain. "The big picture remains one of protracted disinflation in the Eurozone," said Daniel Lee of Credit Agricole CIB in a report. 

In the energy sector, Benchmark U.S. crude fell further on expectations of strong supplies, shedding 46 cents to $76.73 per barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract declined 76 cents to a four-year low of $77.18. Brent crude, used to price international oils, plunged $1.58 to $79.54 per barrel in London Financial Astrology Tips