Good morning. Here’s what you need to know:
- Chinese indices were higher in overnight trading, while the Nikkei was down. Major European indices are higher this morning, with U.S. futures also trading higher ahead of the open. Now, here are the 10 unusual stocks attracting huge interest this morning >
- New Home Sales data is released at 10:00 AM ET. Sales are expected to rise modestly to 300,000. Follow the release at Money Game >
- Egypt’s government has banned any further protests in the wake of yesterday’s riots. It is expected that protests against President Hosni Mubarak’s government will continue today. The egyptian stock market, meanwhile, has crashed nearly 6%. Check out these incredible photos from yesterday’s protests >
- Angela Merkel’s coalition partner in Germany has yet again refused to expand the bailout package for Europe’s troubled states. EU Economic and Monetary Affairs Commissioner Oli Rehn made a personal appeal, only to be rejected. Here are the 15 costliest economic and political risks that could wreck the global economy >
- Toyota has announced another massive recall, this one impacting 1.4 million automobiles. This time, the recall hits the Japanese market, with 1.2 million of the recalls impacting cars there.
- German software company SAP announced Q4 profits 36% lower than last year, a result of a fine it had to pay to Oracle. Shares of the the company are up in the U.S. pre-market and in Germany.
- Yahoo announced results that beat expectations yesterday, but shares of the company still sold off in after hours trading. The company is cutting costs in order to achieve goals, rather than growing.
- Wellpoint, the largest health insurance company in the U.S., beat analyst estimates for Q4 profits. The company’s successful quarter is partially the product of America’s high unemployment number and people choosing not to spend on healthcare. Don’t miss 50 depressing facts about the U.S. healthcare system that will make you beg for reform >
- President Obama made his State of the Union address last evening. In it, he pushed for a cut in corporate taxes as well as investment in new government projects, like high speed rail. Here are the biggest cuts the Republicans want to make to the budget >
- The FOMC will make its monetary policy announcement at 2:15 PM ET. It is expected that rates will remain near zero and the quantitative easing program will be continued. Follow the release at Money Game >
- Bonus: Penelope Cruz have given birth to her first child with Javier Bardem.
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