10 Things You Need To Know This Morning

katy perry

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

  • Asian markets were mixed in overnight trading, with the Shanghai Composite down 1.39% on the back of mixed economic data. Europe is moderately lower and U.S. futures have opened moderately lower.
  • The IMF is reportedly considering boosting its lending operations by $500 billion. Earlier reports put the figure at $1 trillion, and the euro had strengthened on the news, but the market reaction has been fading since the update. The IMF is also said to be urging BRIC nations, Japan and oil-rich countries to be the top contributors.
  • A bunch of data out of China this morning, foreign direct investment (FDI) fell 12.73% to $12.24 billion in December, declining for a second consecutive month. December home prices declined in 52 cities from the previous month, and China has said it will only allow banks to boost lending by 5% in the first quarter of 2012. Don’t Miss: Emerging markets – Here’s what will happen in 2012 >
  • The World Bank downgraded its global growth outlook, projecting that the global economy would grow 2.5% in 2012, and 3.1% in 2013. This is lower than previous estimates that the economy would grow 3.6% in 2012 and 2013.
  • Core PPI soared 0.3% in December, rising above analyst expectations. Meanwhile, industrial production climbed 0.4% last month, missing expectations for a 0.5% gain >
  • There’s a deluge of earnings announcements this morning. Goldman Sachs reported earnings of $1.84 per share, on revenue of $6.05 billion, missing revenue estimates. Meanwhile, Kinder Morgan is expected to report earnings of $0.29 per share, and eBay is expected to report earnings of $0.57 per share.
  • Portugal sold €2.5 billion of treasury bills this morning. Yields on its 6-month bills eased to 4.740%, down from 5.250% at a similar auction in November. The average yield on the 3-month bill was unchanged at 4.346%. Portugal also issued 11-month bills for the first time since April 2011, just before it sought its bailout. Now check out what the euro economy will do in 2012 and 2013 >
  • UK unemployment rate rose to 8.4% in November, reaching a 17-year high. The Office for National Statistics said there were 2.7 million people out of work in the quarter through November. Now here’s a quick guide to youth unemployment across Europe >
  • Wikipedia and Google are protesting the Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA) today. The acts would allow the U.S. Justice Department to get court orders that could force U.S. search engines from leaving out search results from sites.
  • The National Association of Home Builders’ housing market index for January will be released at 10 AM ET. Consensus is for the housing market index to hold steady at 21. Follow the release at Money Game >
  • BONUS – Katy Perry will now be a character in the virtual game The Sims, through a collaboration with Electronic Arts.