From Between the Hedges:
- Hong Kong’s economy grew last year at the second-fastest pace since 2000, powered by rising exports and consumer spending.
Wall Street Journal:
- Boeing Co.(NYSE:BA) is working on a verbal agreement to sell 80 of its 737 planes to China, which agreed to buy 70 of the jetliners in November.
- The Organization of the Islamic Conference rejected calls in Pakistan for the death of the Danish cartoonist who depicted the prophet Muhammad.
- Posco, a South Korean steelmaker, may revise its domestic steel prices lower in March amid competition from cheaper Chinese imports.
- Sony Corp.(NYSE:SNE) pushed back the debut of its PlayStation 3 game console until August because of high component prices and inadequate levels of copy protection.
Asian Indices are -1.50% to unch. on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated -.03%.
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
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Earnings of Note
8:30 am EST
- The Consumer Price Index for January is estimated to rise .5% versus a .1% decline in December.
- The CPI Ex Food & Energy for January is estimated to rise .2% versus a .1% gain in December.
BOTTOM LINE: Asian indices are mostly lower, weighed down by exporters in the region after the US Fed minutes led traders to conclude more rate hikes were forthcoming. I expect US equities to open modestly lower and to trade modestly higher into the afternoon, finishing mixed.