Good morning. Here’s what you need to know:
- Major Asian indices were higher in overnight trading, with the Shanghai Composite up 1.86%. European indices are mostly lower this morning, and U.S. futures suggest a slightly lower open. Click here to see how 10 notable stocks are moving this morning >
- Housing starts data is released at 8:30 AM ET. Consensus is for a slight fall in starts to 550,000. Follow the release at Money Game >
- Chinese President Hu Jintao is in Washington today, meeting with President Obama and others during his official state visit. The visit has hit one bump already, with Taiwan test firing missiles yesterday. Don’t miss 17 facts about China that will blow your mind >
- Tech earnings were extremely strong after the bell last night, with both Apple and IBM ripping the cover off the ball. Of course, Apple is one of the most crowded investment ideas for 2011 >
- GE plans to announce $4 billion in deals with China during President Hu’s visit to the U.S. The deals are expected to create 4700 jobs in the U.S. Looking ahead, here’s where China’s economy will look like in 2015 >
- India’s central government has called on its states to cut all taxes impacting food prices. The country’s central bank is expected to raise rates again on January 25 in an effort to curb inflation. Check out these photos of intense scenes from India’s under pressure street markets >
- rumours abound this morning that, behind the scenes, European officials are preparing for a restructuring of Greek sovereign debt. The result has been a surge in yields for the Greek 10-year. Here’s who gets pounded when Greek debt holders take their haircut >
- Chaos continues in Tunisia today with four government ministers in its new unity government resigning. Ministers are withdrawing over the position of government officials associated with ex-President Ben Ali in the cabinet. Check out these photos of the food price riots sweeping the world >
- Brazil’s central bank is expected to raise rates today to combat inflation. Consensus is for a 0.50% rise in the overnight rate, with more raises expected to follow.
- AIG’s secondary offering will be coordinated by Deutsche Bank, Bank of America, Goldman Sachs, and JPMorgan Chase. The offering could rise to be valued at $30 billion.
- Cargill is planning on getting out of its position in Mosaic, in a deal worth around $24.3 billion. 64% of Mosaic is owned by Cargill. Click here for a guide to the food inflation rocking the emerging world >
- Bonus: Jennifer Lopez has expressed her desire to have a baby, “a thousand more times.”