Here is what you need to know.
The streak is over for the S&P and Nasdaq. The two major averages fell on Thursday, ending their streak of five straight days of finishing in record territory. The Dow ticked up fractionally to keep its streak alive.
A solution for Greece remains elusive. Eurozone countries look likely to miss a self-imposed Monday deadline to agree on aid measures for Greece, which is scheduled to run out of cash in July when it has to make repayments of more than €6 billion.
EU workers are starting to leave the UK. Data released by the Office for National Statistics on Friday showed the number of EU workers fell by 50,000 to 2.3 million in the fourth quarter, making for the biggest drop in five years, according to Bloomberg.
UK retail sales missed big. Retail sales climbed 1.5% year-over-year, but that was well shy of the 3.4% YoY growth that economists had forecast as oil and food inflation weighed. The British pound is weaker by 0.6% at 1.2415 versus the dollar.
Singapore’s GDP beats. Data released by the Ministry of Trade and Industry showed Singapore’s economy grew at a 2.9% YoY clip in the fourth quarter, ahead of the 2.5% growth that economists had forecast.
Crude oil is sliding. West Texas Intermediate crude oil trades down 0.9% at $US53.05 as trade remains trapped in a tight range between $US50 and $US55 that has been in place since the beginning of December.
Samsung’s chairman is in jail. Jay Y. Lee was arrested on Friday for his alleged role in a corruption scandal that led to the impeachment of South Korean President Park Geun-hye, Reuters reports. Lee has denied any wrongdoing.
Stock markets around the world are lower. China’s Shanghai Composite (-0.9%) led the losses in Asia and France’s CAC (-0.9%) trails in Europe. The S&P 500 is set to open down 0.1% near 2,343.
Earnings reporting is light. Campbell, Deere, and Fannie Mae are among the names reporting ahead of the opening bell.
US economic data is absent. The Baker Hughes rig count will be released at 1 p.m. ET. The US 10-year yield is down 3 basis points at 2.42%.
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