Good morning. Here’s what you need to know:
- Asian stocks were higher in overnight trading, with the Shanghai Composite up 1.47%. UPDATE: U.S. futures now negative. Now, here are the 10 stocks attracting unusual interest this morning >
- Durable Goods Orders came in much worse than expectations, in negative territory. Read about it here >
- Initial Jobless Claims came in much worse than expectations, but may have been impacted by the weather. Read about it here >
- Standard & Poors downgraded Japan this morning from AA to AA-. The yen fell on the news. S&P blamed high levels of debt and “persistent deflation” for the downgrade. Now, here’s why Citi thinks no sovereign is absolutely safe >
- Egypt’s Cairo Stock Exchange saw its trading suspended today, after shares fell sharply in today’s trading. Riots continue to impact the country, with protesters burning the police headquarters in Suez. Don’t miss these incredible photos of the protests hitting Egypt >
- Protests are now spreading beyond North Africa to the broader Middle East, with thousands of people taking to the streets in Yemen today. Protesters there are calling for the dismissal of the country’s president, who has been in power for over 30 years. Check out the 25 governments under threat from food price inflation >
- Nokia’s Q4 2010 profits fell 21% year-over-year, but sales actually increased. Earnings were below expectations, at €0.20 per share.
- Procter & Gamble beat earnings expectations for its Q2, with an EPS of $1.13. The company’s net sales increased by 2%.
- AT&T missed revenue estimates, but beat earnings estimates slightly. The company added a record amount of wireless customers.
- The Pending Home Sales Index is released at 10:00 AM ET. The index is expected to fall 0.5% for the month of November. Follow the release at Money Game >
- Meanwhile, a new cyclone is hammering Australia. Click here for incredible pictures of the biblical flood >
- Bonus: Katie Holmes acting in The Son of No One, recently shown at Sundance, is being panned, though the producer is defending her work.
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