Good morning. Here’s what you need to know:
- Asian markets were mostly lower in overnight trading, with the Shanghai Composite down 1.31%. European indices are also down, and U.S. markets are mixed. Now, here are the 10 stocks attracting unusual interest this morning >
- The Consumer Price Index is released at 8:30 AM ET. Consensus was for a 0.4% month-over-month increase, and the actual number came in at 0.5%.
- Retail sales for December were uglier than expected, with just a 0.6% gain versus 0.8% consensus.
- China raised its reserve ratio for the country’s banks by 0.5% this morning. The move is intended to slow inflation in the country. The impact has been a slide in emerging market indices. For a look into China’s future, check out where Credit Suisse thinks the country will be in 2015 >
- The rate of inflation in India rose to 8.4% in December, a sharp rise over November’s 7.5% increase. India’s BSE sold off, dropping 1.68%, likely on concerns the government will need to introduce more tightening measures to fight inflation. Here are photos of the food price riots sweeping the world >
- Inflation in the eurozone has surged to a 26-month high, rising 2.2% year-over-year and 0.6% month-over-month. Expectations for a rate hike in 2011 are rising, especially after ECB President Jean-Claude Trichet’s hawkish comments on inflation yesterday. Don’t miss Citi’s report on why no sovereign is absolutely safe >
- JPMorgan beat earnings expectations, with EPS of $1.12 per share in Q4 2010 against the estimated $1.00. The firm’s CEO, Jamie Dimon, indicated he was optimistic about future economic growth.
- Intel reported strong Q4 2010 earnings after the bell yesterday, beating expectations. Intel also suggested Q1 2011 revenues would be better than previously expected, at $11.5 billion.
- The SEC is investigating banks for possible bribes of sovereign wealth funds. Blackstone and Citi have been contacted by the SEC in relation to the case.
- The University of Michigan Consumer Sentiment Index came in weaker than expected. Read more details here >
- Bonus: Selma Blair and boyfriend Jason Bleick are expecting a child, according to Us Weekly.