Good morning. Here’s what you need to know:
- Asian markets surged in overnight trading, with the Nikkei up 2.17%. European indices are all higher in early morning trading, and U.S. futures suggest a higher open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- Initial jobless claims came in worse than expectations, at 457,000. Read analysis here >
- The response from Asia to quantitative easing 2 is divided: yes from markets, no from countries. Equities surged across the region while China and South Korea consider capital controls to mitigate the impact of the hot money flowing from the U.S. Here’s how the emerging world is reacting to America’s new money printing >
- Japan has set the stage for its own new round of quantitative easing, targeting everything from government debt to JREITs to ETFs. This new round of monetary stimulus currently amounts to $62 billion, but could be expanded. Here’s why quantitative easing alone hasn’t worked in Japan >
- The Australian airline Qantas has grounded all Airbus A380 flights after a Rolls Royce engine exploded and forced an early landing. Rolls Royce shares are lower in London trading today.
- Composite PMI for the European Union came in better than early month estimates suggested at 53.8. The number was buoyed by strong manufacturing growth, driven by Germany.
- The Bank of England will release its monetary policy decision at 8:00 AM ET, and is unlikely to engage in another round of quantitative easing. Positive news about growth in the UK and consumer spending, as well as high inflation, is holding the central bank back, for now.
- Irish bond yields continue to explode higher this morning. The yield on the country’s 10-year bond is now near 7.6%. Here’s how Ireland got into this mess >
- BHP’s bid for Potash has been blocked by the Canadian authorities. The 10-week bid process for BHP now looks to be nearing an end, with Canada saying the deal is not a “net benefit” to the country. Here’s why BHP will have to raise its bid if it still wants Potash >
- The private equity firm KKR is on the brink of raising $2.5 billion in a signal that the industry may be back. One portion of this new capital raise is for a China focused fund, to eventually be worth $1 billion. Check out 15 amazing facts about China >
- Bonus: Leonardo DiCaprio and Blake Lively were seen having dinner in New York last night. The pair were not alone, but part of a party of 8, associated with the new adaptation of The Great Gatsby, in which DiCaprio is to play the lead.
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