10 Things You Need To Know This Morning
Apr 15, 2013, 16:51 IST
Reuters/Mario AnzuoniGood morning. Here's what you need to know.
Advertisement
- Asian markets were mostly lower in overnight trading with the Shanghai Composite down 1.13 percent, falling to its lowest level this year on disappointing GDP growth. Europe is selling off and U.S. futures are lower.
- The rout in Gold and silver continues. Gold officially entered bear market territory on Friday and hit $1,400 an ounce today. It has lost $198 this month. Gold bull Frank Holmes says the metal will not stay at these lows >
- China released a bunch of economic data over the weekend. GDP growth slowed to 7.7 percent in the first quarter, from 7.9 percent in Q4. Meanwhile, industrial production eased to 8.9 percent in March, from 9.9 percent in Jan-Feb.
- Meanwhile, retail sales were up 12.6 percent in March, up marginally from 12.3 percent for Jan-Feb. Fixed asset investment eased to 20.9 percent in March, from 21.2 percent. The only three indicators of Chinese monetary policy you need to watch >
- Dish Network has made a $25.5 billion cash and stock bid for Sprint Nextel Corp. This is a 12 percent premium to Sprint's close on Friday. Sprint had agreed to sell 70 percent of its shares to Softbank in October.
- Empire State manufacturing fell to 3.05 in April, below expectations for a reading of 7. The NAHB housing market index for April is out at 10 a.m. ET. Consensus is for the housing market index to rise to 45. Follow the release at Business Insider >
- Greece is expected to meet the conditions of its bailout package and should receive the next €2.8 billion in financial aid. The troika – European Commission, the International Monetary Fund and the European Central Bank – said "debt sustainability remains on track," according to the WSJ. How Portugal became a horrific economic mess >
- In earnings news, Citi reported Q1 earnings of $1.23 per share, beating expectations of $1.17 per share. Revenue was boosted by fixed-income trading and investment banking. Meanwhile Charles Schwab reported earnings of $0.15 per share, just below expectations of $0.16 per share.
- Venezuela's Nicolas Maduro who was picked as successor by Hugo Chavez narrowly beat Henrique Capriles at the presidential elections. Maduro received 7.5 million or 50.6% of the votes and Capriles received 7.27 million or 49.07% of the votes.
- Indian wholesale price inflation climbed 5.96% year-over-year in March. This was below expectations for a 6.27% rise. This leaves room for the central bank to cut interest rates and help bolster growth. 17 crazy things that only happen in India >
- Bonus - Bradley Cooper said Jennifer Lawrence was "great to kiss" when he won the MTV movie award for Best Kiss.