Good morning. Here’s what you need to know:
- Asian markets surged in overnight trading, with the Shanghai Composite up 1.79%. Major European indices are all higher this morning and U.S. futures are higher. Now here are 10 unusual stocks attracting huge interest this morning >
- China has spoken out in support of Europe’s leaders current course to deal with its sovereign debt crisis. China has significant euro holdings and claims to have taken “concrete actions” to support the eurozone. But should China be focusing on its own problems? Like ghost cities >
- German consumer sentiment has slipped this month, indicating consumers expect Germany’s growth to slow somewhat in 2011. Private spending is still expected to rise.
- Spain had a successful bond auction today, though yields rose sharply on the debt from previous auctions. On 84 day debt, the yield rose to 1.804% from 1.743% on November 23. Here’s a complete guide to the Spanish debt crisis everyone is frightened of >
- Moody’s has threatened to downgrade Portugal’s debt by two notches as the country struggles to tame its budget deficit. The credit rating agency does not think solvency is an issue, but is worried about the expanding costs of bailing out banks. Are these the next dominos to fall in Europe >
- Blackstone is on the brink of completing fundraising for a $15 billion buyout fund. It is the largest fund since the financial crisis and 6th largest ever.
- The SEC is investigating former HP CEO Mark Hurd over claims of insider trading. The deal in question is HP’s acquisition of EDS. Find out who’s who in the ongoing insider trading investigation >
- TD Bank is on the brink of buying Chrysler Financial from Cerberus for $6.3 billion. Cerberus would retain $1 billion in assets from Chrysler Financial, while TD Bank would significantly expand its U.S. presence.
- Martek Biosciences Corporation is being bought by Dutch vitamins company DSM in a deal valued at $1.1 billion. Martek makes food ingredients.
- The new START treaty looks likely to be approved by the Senate after Sen. John McCain submitted an amendment altering language on missile defence. The Democrats may now get the 10 or so votes they need to pass the treaty. These are the threats the US Air Force is really worried about >
- Bonus: Lindsay Lohan has been moved from the Betty Ford clinic after fighting with someone on staff over curfew, according to Radar Online.
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