10 Things You Need To Know Before European Markets Open
Greece's New Government Has Its First European Talks Today. Greece's new anti-austerity government is set to hold its first talks Friday with its eurozone partners about its ambitions to secure a reduction in the massive debts linked to its €240 billion ($269 billion) international bailout.
Germany Had Its Best Retail Sales Since Before The Crisis. Sales were up 4% in December, compared to the same month last year, the strongest rate of growth since at least 2007. Spain's retail sales also grew at the fastest pace in 11 years in December.
Saudi Arabia's New King Is Reshuffling His Government. Salman is setting up an economic development council, according to Bloomberg. The current interior minister and newly appointed deputy crown prince, Prince Mohammed Bin Nayef, will be in charge of the new council. Oil minister Ali al-Naimi will also be involved. See the other changes here.
Eurozone Inflation Is Coming. Inflation figures out at 10 a.m. GMT (5 a.m. ET) for January will give a further idea as to how deep the plunge in oil prices is likely to drive Europe into deflation. Economists are expecting a -0.5% drop in consumer prices, after a -0.2% fall in December.
Amazon Stock Rocketed Up After Hours When Its Results Came Out. Earnings per share for the fourth quarter came in at $0.45 (versus analyst expectations of $0.18). That's a beat by $0.27, and a big improvement from the $0.95 loss last quarter. Shares surged 14% after hours.
Google Posted Slightly Disappointing Fourth Quarter Results. Revenue (minus traffic-acquisition costs) was $14.48 billion versus $14.61 billion estimated. Gross revenue was $18.1 billion, up 15% from last year. Adjusted EPS was $6.88 vs. $7.08 expected. Shares initially sank 3%, but the market reaction was limited.
The EU Announced Further Sanctions Against Russia Ahead Of Ukraine Talks. The EU agreed Thursday to expand its sanctions against Russia as Ukraine's warring parties announced fresh truce talks to end a surge in fighting between Kiev and Kremlin-backed rebels.
The US Senate Passed A Bill For The Keystone Pipeline. The Republican-led Senate passed the bill that would approve TransCanada Corp's project to carry 800,000 barrels per day of heavy Canadian crude to Nebraska on the way to Gulf Coast refineries and ports. President Barack Obama will very likely veto the legislation.
Asian Markets Are Mixed. Japan's Nikkei swelled a little, closing 0.39% higher, while Hong Kong's Hang Seng is currently up 0.04%. Shanghai's Composite index is down 0.60%.
Falling Gas Prices Likely Drove US Consumer Spending In The Fourth Quarter. The US economy likely grew at a brisk clip in the fourth quarter as lower gasoline prices buoyed consumer spending, in a show of resilience despite a darkening global outlook. Gross domestic product probably expanded at a 3% annual pace, according to a Reuters survey of economists.