Good morning. Here’s what you need to know:
- Asian markets were mixed in overnight trading, with the Shanghai Composite down 0.90%. European indices are also mixed and U.S. futures are flat. See 10 stocks attracting unusual interest this morning >
- U.S. GDP data comes out at 8:30 AM, expected to rise from a previous estimate of 2.5% to 2.8%. Update: The ultimate number came in at just 2.6%.
- Existing home sales data comes out at 10 AM, expected to rise from 4.43 million to 4.65 million. Check out 10 real estate markets that will thrive in 2011 >
- No retaliation on Monday. Now South Korea has launched even bigger military exercises, which will continue on land and sea all week. See what a DPRK relation could look like >
- Finally, someone on Wall Street is bearish on stocks. A Citi note says the market will top in the next two weeks and then decline over the year.
- A trader in London has captured 90 per cent of the copper at the London Metal Exchange, which accounts for nearly half of the exchange-registered copper in the world. Check out SocGen’s bullish commodities outlook >
- Congress passed a temporary spending bill, staving off the threat of a government shutdown until March 4. The bill represents a partial spending freeze and GOP victory, but it still has all of this pork >
- A new START nuclear arms treaty with Russia is expected to be ratified today after passing a test vote yesterday. See what threats our military is really worried about >
- The SEC is investigating Mark Hurd’s sudden departure from HP. Meanwhile, Hurd has requested that the sexual harassment letter is kept private. Check out the 10 most shocking CEO departures of 2010 >
- Hail, thunderstorms and even small tornadoes led to evacuations in parts of California. The week-long storm is predicted to get even worse tonight. Check out the 10 most expensive U.S. storms ever >
- Bonus: Nicole Kidman admits she was heartbroken when the children she adopted with Tom Cruise chose to live with their father in 2011.
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