10 Things You Need To Know This Morning

kate hudson

Photo: AP

Good morning. Here’s what you need to know.

  • Asian indices were down in overnight trading with the BSE falling 0.08%. Major European indices are in the red and U.S. markets have opened down. Now, here are the 10 stocks attracting unusual interest this morning >
  • China raised its key interest rates by 0.25% as the country continues to struggle with inflation. The announcement came on a national holiday and the deposit rate now stands at 3.25%. Here’s a look at 8 huge trends that define the future of Asia >
  • The Nikkei dropped 1.06% in overnight trading on news that TEPCO was dumping contaminated water into the ocean. Shares in auto stocks fell after Toyota announced that shutdown plans for U.S. plants in the wake of earthquake and tsunami related supply disruptions.
  • High levels of radioactive iodine and cesium were found in a fish caught on Friday midway between Fukushima and Tokyo. The government has now announced its legal limits for radiation in fish. Ocean contamination is set to get worse with TEPCO looking to dispose of 11,500 tons of radioactive water into the Pacific Ocean. Here are the 13 countries most exposed to a nuclear industry backlash >
  • Moody’s downgraded Portugal and the country now seems closer to a bailout. Portuguese CDS prices have increased from 579 bps at yesterday’s close, to 597 bps today. Check out 8 shocks Citi believes will slam the global economy >
  • Ben Bernanke believes U.S. inflation is “transitory” and has blamed rising commodity prices for the spike in inflation. While the Fed will watch inflation expectations its biggest concern remains the housing market. Here’s why Bernanke thinks a fuel price spike doesn’t merit a rate hike >
  • ISM Non-Manufacturing Index came in weaker than expected. Read about it here >
  • The Federal Open Market Committee (FOMC) will issue minutes of its most recent meeting at 2 PM ET. Follow the release at Money Game > 
  • Texas Instruments is acquiring Silicon Valley’s National Semiconductor in a $6.5bn all-cash acquisition. TI is paying a 78% premium to National Semi’s closing price on Monday. TI’s shares fell 2% in after-hours trading.
  • TEPCO’s shares dropped 18% in overnight trading and ended at their lowest levels since 1951. The company also announced that it was delaying the release of its 2010 earnings to account for “special losses” through March 2011. Japanese Prime Minister Naoto Kan said the government would take final responsibility for the nuclear crisis. Don’t miss: 12 of the Japanese companies hit hardest by the disaster >
  • BONUS: Kate Hudson was seen out sipping red wine with family and U2 band members in Argentina.

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