At 8:05 AM EDT:
S&P 500: +1.20; 1,442.00
NASDAQ 100: +1.75; 1,864.00
Dow: +24.00; 12,650.00
NIKKEI 225: -0.04%; 17,202.46 (-7.46)
HANG SENG: -0.20%; 20,027.95 (-40.61)
S&P/ASX 200: -0.01%; 5,673.40 (-0.40)
BSE SENSEX 30: -0.11%; 14,114.73 (-14.91)
FTSE 100: -0.11%; 6,256.30 (-7.20)
CAC 40: -0.14%; 5,622.94 (-8.14)
XETRA-DAX: -0.07%; 6,727.12 (-4.62)
Commodity Futures (Reuters/Jefferies CRB)
Oil: -2.13%; $51.86 (-$1.13)
Gold: -0.05%; $626.60 (-$0.30)
Natural Gas: +1.30%; $6.69 (+$0.09)
Silver: +0.16%; $12.90 (+$0.02)
Asian Headlines (via Bloomberg.com)
• Asian Stocks Rise, Led by David Jones, Murata Manufacturing; Cnooc Slides Asian stocks rose after retailer David Jones Ltd. said holiday sales beat expectations and Goldman, Sachs & Co. told investors to buy shares of Japanese electronic component makers such as Murata Manufacturing Co.
• LG.Philips LCD Posts Third Quarterly Loss on Television Flat-Panel Prices LG.Philips LCD Co. (NYSE:LPL), the world's second-largest maker of liquid-crystal displays, reported its third consecutive quarterly loss because of falling prices of television screens.
• Bank of Thailand Deliberately Created Investor `Uncertainty,' Tarisa Says The Bank of Thailand deliberately created ``uncertainty'' in the foreign exchange market to drive out speculators from Japan and the U.S. when it imposed curbs on investment, Governor Tarisa Watanagase said.
• EMI to Offer Music Samples With Baidu, Says It Won't Pursue Lawsuit Appeal EMI Group Plc. (OTC:EMIPY), which lost a copyright infringement lawsuit against Baidu.com Inc. (NASDAQ:BIDU), will drop its appeal and work with the Chinese Internet search site to win advertising by offering free online samples of its music.
• Malaysian Air Shares Drop Most Since 2002 on Plans to Raise $457 Million Shares of Malaysian Airline System Bhd., the nation's biggest carrier, fell the most in five years after the company said it plans to raise 1.6 billion ringgit ($457 million) in a share sale to fund the business.
European Headlines (via Bloomberg.com)
• German Investor Confidence Increases More Than Expected to Six-Month High German investor confidence rose more than forecast to a six-month high in January as Europe's biggest economy overcomes a higher sales tax and a slowdown in export markets.
• U.K. Inflation Accelerates to 3 Percent, Fastest Pace in at Least a Decade Britain's inflation rate accelerated to 3 percent in December, the fastest in at least a decade, supporting the Bank of England's surprise decision to raise borrowing costs last week.
• Tesco Holiday Sales Rise 5.9 Percent on Premium, Seasonal Foods, Turkeys Tesco Plc, the biggest British supermarket company, boosted holiday sales after offering organic food, cashmere sweaters and flat-panel televisions at more of its stores.
• European Stocks Fall for First Time in Four Days, Led by Miners, Retailers European stocks fell for the first time in four days as a drop in metals pushed mining companies lower and retailers slid after Debenhams Plc said sales declined.
• BP Investigation Finds Systemic Safety Failures at Refineries, Person Says BP Plc (NYSE:BP) top management will be criticized for systemic failures in a report today on the company's safety practices and the March 2005 oil refinery explosion that killed 15 workers.
U.S. Headlines (via Bloomberg.com)
• Citigroup, JPMorgan Slide Further Behind Goldman Sachs, Morgan Stanley For all their success arranging mergers, securities offerings and loans, Citigroup Inc. (NYSE:C) and JPMorgan Chase & Co. (NYSE:JPM) trail the earnings growth of Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS).
• Chevron, Shell Suffer Setbacks at LNG Projects, Raising Natural Gas Prices Chevron Corp. (NYSE:CVX) and Royal Dutch Shell Plc (NYSE:RDS.A) are delaying construction projects from Australia to Nigeria, threatening to drive natural gas prices higher for years to come.
• Symantec Says Third-Quarter Profit, Sales Miss Forecast, Citing Data Unit Symantec Corp. (NASDAQ:SYMC), the world's biggest maker of anti-virus software, said third-quarter profit and sales missed its forecast, citing its data management unit.
• Express Scripts Announces $25 Billion Exchange Offer for Caremark Shares Express Scripts Inc. (NASDAQ:ESRX) said it is beginning its offer for all outstanding shares of Caremark Rx Inc. (CMX) and said the deal is worth $25 billion, 7 percent higher than CVS Corp.'s (NYSE:CVS) rival bid.
• Carlyle Group Raises ElkCorp Offer to $1.05 Billion, Topping Competing Bid Carlyle Group raised its offer to buy roofing company ElkCorp (ELK) to $40.50 a share, higher than a competing bid from Building Materials Corp. of America.