Good morning. Here's what you need to know.
•Asian markets were mixed in overnight trading with the Nikkei up 1.45 percent to a 4.5 year high, after the parliament approved a new management team for the Bank of Japan. Europe is selling off and U.S. futures are flat.
•Asian markets were mixed in overnight trading with the Nikkei up 1.45 percent to a 4.5 year high, after the parliament approved a new management team for the Bank of Japan. Europe is selling off and U.S. futures are flat.
•The
upper house of the Japanese parliament approved three doves to head the
Bank of Japan. Haruhiko Kuroda, who had previously received the
approval of the lower house, has been appointed the new Bank of Japan
governor as expected. Meanwhile, Kikuo Iwata and Hiroshi Nakaso have
also been named in the Bank of Japan's management team. Click here for a
complete guide to Abeconomics >
•Consumer
prices for February and the Empire State manufacturing survey for March
are out at 8:30 a.m. ET. Consensus is for CPI to rise 0.5 percent
month-over-month (MoM), and for the general business conditions index
level to decline to 10. Follow the release at Business Insider >
•Samsung
revealed its Galaxy S4 smartphone at Radio City Music Hall yesterday.
The phone has a 5-inch HD display and operates on the latest version of
of Android called Jelly Bean. The phone is thinner and lighter than the
previous model. Here are the first photos of the Galaxy S4 >
•Outgoing
Bank of England Governor Mervyn King has said policy makers are not
trying to devalue the pound. He did however say that the weakness had
helped boost exports. King also said he thinks a recovery in the UK
economy is "in sight" in 2013, according to Bloomberg.
•Euro
area consumer prices eased to 1.8 percent in February, from 2 percent
the previous month. This was led by a 5.2 percent decline in
telecommunication costs.
•Most
large U.S. companies and plan providers will pay a total of $25 billion
over three years as part of a new health-care law, according to the
WSJ. This is aimed at preventing insurers from denying coverage to
people with pre-existing conditions. Companies want this changed because
they think "it subsidizes individually purchased plans that won't cover
their workers."
•Industrial
production for February is out at 9:15 a.m. ET, followed by consumer
sentiment for March at 9:55 a.m. ET. Consensus is for industrial
production to rise 0.5 percent MoM and for the consumer sentiment to
stay flat. Follow the release at Business Insider >
•In
M&A news, IBM and EMC Corp are in talks to buy SoftLayer
Technologies for over $2 billion, according to Reuters. Morgan Stanley
and Credit Suisse have reportedly been hired to make the sale.
•The
second round of stress tests revealed that the Federal Reserve sees
"weaknesses" in the capital plans of JP Morgan and Goldman Sachs. It
also rejected the capital plans of Ally Financial and BB&T Corp. The
Fed approved the plans of 14 of the 18 largest banks, to return capital
to shareholders.
•Bonus - Halle Berry told Conan O'Brien that the right way to wear perfume, is to spray it between the thighs.
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