Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Earnings, M&A Help Add Positive Tone to Markets

 Morning Notes 2.16.11

-Strength out of Asia with Hang Seng closing up 1.1%, Shanghai closing up 90bps, and Nikkei closing up 60bps
-Rumors out in China that the PBOC may use the yuan to maintain inflation in place of interest rate or reverse repo rate increases
-Earnings and a weak yen helped boost the Nikkei
-European mkts up small
-UK jobless claims came in slightly worse than expected
-In M&A news, GENZ and SNY finally completed their merger
-Crude up this morning- API inventories came in lower than expected
-S&P futures are up 3.75 handles from FV
-Solid earnings are helping add strength to the market: DELL, DE among names that are trading up after earnings
-Jan PPI: +0.8% vs. +0.7%
-Jan Core PPI: +0.5% vs. +0.2%; prior was +0.2%
-Jan PPI y/y: +3.6% vs. +1.6%
-Jan Building Permits: 562K vs, 575K; m/m: -10.4%
-Jan Housing Starts: 596K vs. 540K; m/m: +14.6%
-Dollar sees positive reaction after PPI numbers
-What’s left on the economic calendar for today: Jan Industrial Production at 9:15a; Jan Capacity Utilization at 9:15a; Fed Minutes at 2p



Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.