10 Things You Need To Know This Morning
Apr 17, 2013, 16:57 IST
Advertisement
- Asian markets were mixed in overnight trading with the Nikkei up 1.2% on yen weakness. Europe is selling off and U.S. futures are lower.
- UK joblessness climbed by 70,000 to 2.56 million from December through February. The unemployment rate climbed to 7.9%. Meanwhile, average wage growth ex-bonuses fell to 1%, the lowest in over 10 years.
- Bank of America missed when it reported earnings of $0.20 per share, on expectations of $0.23 per share. Adjusted revenue came in at $23.85 billion, above expectations for $23.15 billion. Expects to begin capital plans in the second quarter. Gundlach tells bond bears they're wrong >
- The Beige Book which contains anecdotal evidence on the economic conditions of local businesses is out at 2 p.m. ET. It is typically published two weeks before the FOMC meeting. Investors watch this report because it influences policy makers and interest rate policy. Follow the release at Business Insider >
- Investigations into the Boston Marathon bombing are ongoing. Investigators are looking for a suspect or suspects that were carrying heavy bags or dark nylon backpacks, according to Reuters. They were suspected to have used a pressure cooker in building the bombs. 3 people died and another 176 were wounded in the attacks.
- Cyprus' finance minister Haris Georgiades has said that the government plans to sell part of its gold reserves in the next few months. The Cypriot central bank is said to have 13.9 metric tons of gold and the government has committed to sell about €400 million of 'excess' gold reserves, according to the European Commission. The central bank said at the time that it wasn't considering a sale. 10 countries being slammed by the gold collapse >
- Intel reported Q1 earnings of $0.40 per share in line with expectations, on revenue of $12.58 billion. But its profit fell 25%. Meanwhile, Yahoo reported earnings of $0.38 per share, on revenue of $1.07 billion, missing on the top line.
- British retail giant Tesco is exiting the U.S., and has taken a $3.5 billion write down of its global operations, according to Reuters.
- Toy maker Mattel reported Q1 net income of $38.5 million or $0.11 per share, surging past expectations of $0.08 per share. Sales of Monster High and American Girl products boosted revenue.
- 4,000 extra police officers have been brought into central London for the funeral of former British prime minister Margaret Thatcher. The funeral is said to cost over $15 million.
- Bonus - Amanda Seyfried told Allure magazine that she is insecure about her body, but added that "she doesn't kill herself because it isn't worth it."