10 Things You Need To Know This Morning

zooey deschanel

Photo: Frazer Harisson/Getty Images

Good morning. Here’s what you need to know.

  • Global markets are rallying on the fiscal cliff deal. Asian markets were higher in overnight trading with the Hang Seng up 2.89 per cent. Europe is surging and U.S. futures are higher.
  • The House of Representatives voted 257-167 to approve the fiscal cliff bill that was passed early Tuesday in the Senate. The bill allows for tax increases on individuals and households making over $400,000 and $450,000 respectively, and delays spending cuts by two months. Markets will now be watching how the debt ceiling debate plays out. What every liberal is worried Obama will do next >
  • Countries around the world posted December manufacturing PMI numbers last night. South Korea’s HSBC PMI rose to 50.1 in December, meanwhile Taiwanese PMI climbed to 50.6 in December, from 47.4. In India, manufacturing PMI grew at the fastest rate in six months, rising to 54.7.
  • Meanwhile, in Europe, UK manufacturing climbed to 51.4, from under 50, and beating expectations for a reading of 49. Euro-area manufacturing however contracted to 46.1, from 46.2.
  • The U.S. PMI manufacturing index for December will be out at 8:58 a.m. ET. Consensus is for the index to rise to 54.2. And FOMC minutes will be out at 2 p.m. ET.  Follow the release at Money Game >
  • Avis Budget Group is acquiring Zipcar for $12.25 per share, that represents a 49 per cent premium over its December 31 closing price of $8.24. Meanwhile, steel giant ArcelorMittal is selling a 15 per cent stake in ArcelorMittal Mines Canada to raise $1.1. billion and lower its debt. The most important finance books ever written >
  • Armed robbers hit an Apple Store in Paris on New Year’s eve. They reportedly stole $1.32 million worth of goods. Meanwhile, Apple is reportedly already testing the iPhone 6 and is beginning to source its A6X chips from Taiwan Semiconductor Manufacturing instead of Samsung.
  • Macau’s casino revenue was up 13.5 per cent in 2012, hitting a record $38 billion, according to the AP. Gross revenue also hit a monthly record in December increasing 20 per cent to $3.5 billion.
  • The ISM manufacturing index for December and construction spending for November will be out at 10 a.m. ET. Analysts polled by Bloomberg expect the manufacturing index to rise to 50.5 and construction spending to rise 0.6 per cent month-over-month. Follow the release at Money Game >
  • Singapore’s economy grew 1.8 per cent in the fourth quarter, this is after it contracted a revised 6.3 per cent the previous quarter. GDP increased 1.2 per cent in 2012. Wall Street’s geniuses reveal their favourite charts of 2012 >
  • Bonus – New Girl star Zooey Deschanel bumped into another car while reversing out of shopping centre in Los Angeles.

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