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Good morning. Here’s what you need to know:
- Major Asian indices fell in overnight trading, with the Shanghai Composite down 1.61%. European indices are slightly higher this morning, while U.S. futures are heading lower. See 10 Unusual Stocks Attracting Huge Interest In The Market Today >
- Yields continue to spike across the eurozone this morning as pressure increases on its non-bailed out fringe. The euro briefly fell below $1.30, but has since recovered. Who’s next to fall in the eurozone? Here’s a guide to the next countries in the line of fire >
- The S&P Case Shiller home price index dove 1.5% in September, coming in worse than expected. Read analysis here >
- The latest WikiLeaks release points to increasing Chinese support for the reunification of Korea under the South’s control. China has called for a meeting on the current crisis for 6 party talks. This presentation gives some context on the real threat from North Korea >
- India saw 8.9% GDP growth in Q2 2010, beating analyst estimates. The country’s prime minister sees growth reaching 10%, if domestic demand rises. Here are the macro themes that scream equity rally >
- Swiss manufacturer ABB has purchased American company Baldor for $3.1 billion. The move is aimed at expanding ABB’s North American presence in the motor market.
- Spanish banks are under pressure this morning, as a $111 billion refinancing weight looks set to fall on the industry in early 2011. Santander is down around 1.8% in European trading, with €27 billion in 2011 refinancing alone. Here is a guide to the banks most exposed to the European sovereign debt crisis >
- The Bank of Portugal released its mid-year review today, expressing clear doubts about the country’s banking sector. The document suggests the country will need to increase the pace of budget adjustments if its banking sector is to have continued access to funding. Read the full report here >
- Pharmaceutical giant Merck has named President Kenneth C. Frazier as its new CEO.
- Chicago PMI data is expected to show continued positivity, at a 61 for November. Follow coverage of the 9:45 AM ET release at Money Game >
- Consumer Confidence rocketed to 54.1 for November. Read analysis here >
- Bonus: Anne Hathaway and James Franco will be hosting the Oscars in February.