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New Delhi, The services sector growth in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> rose to a six-month high in January as new business expanded at a faster pace amid buoyant demand from domestic and external clients, a monthly survey said on Monday. The seasonally adjusted <keyword id="20073680" type="General" weightage="20" keywordseo="hsbc-india-services" source="keywords">HSBC India Services</keyword> <keyword id="19905748" type="General" weightage="20" keywordseo="pmi" source="keywords">PMI</keyword> Business Activity Index rose to 61.8 in January, up from 59 in December, pointing to the sharpest rate of expansion in six months. <br /><br /> In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. <br /><br /> The survey is compiled from responses to questionnaires sent to a panel of around 400 service sector companies. <br /><br /> "India's services PMI rose to a six-month high in January. New business expanded at a faster pace and managers' expectation for future activity was strong. The new export business index accelerated, signalling that India's services exports remained robust," <keyword id="20412326" type="General" weightage="20" keywordseo="ines-lam" source="keywords">Ines Lam</keyword>, Economist at HSBC, said. <br /><br /> New export sales rose at the fastest pace in three months. Monitored firms signalled gains from clients across the globe, including Afghanistan, Australia, Brazil, China, Europe, the UAE and the US. <br /><br /> On the prices front, companies noted a further increase in their overall expenses at the start of the 2024 calendar year, with food, labour and freight identified as the key sources of cost pressures. <br /><br /> However, with the vast majority of panellists opting to leave their charges unchanged and only 6 per cent hiking them, output prices rose to the least extent in 11 months. <br /><br /> According to the survey, business confidence has strengthened further. Besides demand strength, firms expect investment and productivity gains to induce output growth in the year ahead. <br /><br /> Meanwhile, the <keyword id="20459348" type="General" weightage="20" keywordseo="hsbc-india-composite" source="keywords">HSBC India Composite</keyword> PMI Output Index rose from 58.5 in December to 61.2, indicating the sharpest upturn since mid-2023. <br /><br /> Composite PMI indices are weighted averages of comparable manufacturing and services PMI indices. Weights reflect the relative size of the manufacturing and service sectors according to official GDP data. <br /><br /> "January data highlighted a further acceleration in growth of Indian private sector output, amid quicker increases at both goods producers and service providers," the survey said. <br /><br /> Service providers led the upturn, although both segments recorded faster rates of expansion in new business, the survey added.

India's Jan services PMI hits 6-month high amid strongest upturn in new business since mid-2023

New Delhi, The growth rate in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s business activity accelerated to a 7-month high in February driven by a strong demand for both manufacturing and services, according to a private economic survey released on Thursday.<br /><br /><keyword id="19916458" type="General" weightage="20" keywordseo="hsbc" source="keywords">HSBC</keyword>'s flash India Composite Purchasing Managers' Index (<keyword id="19905748" type="General" weightage="20" keywordseo="pmi" source="keywords">PMI</keyword>), compiled by S&amp;P Global, rose to 61.5 this month from 61.2 in January, which is above the 50-mark that separates expansion from contraction for the 31st consecutive month.<br /><br />"The pace of acceleration in the output of India's manufacturers and service providers, combined, was at a 7-month high in February. Encouragingly, new export orders rose sharply, particularly for goods producers," said <keyword id="20045866" type="General" weightage="20" keywordseo="pranjul-bhandari" source="keywords">Pranjul Bhandari</keyword>, chief India economist at HSBC.<br /><br />The manufacturing PMI for February rose to 56.7 from last month's 56.5, its highest since September, and the preliminary services PMI rose to 62.0 from 61.8 in January to reach its highest level in the last 7 months.<br /><br />Overall international orders increased at the fastest pace since September.<br /><br />The survey is in tune with the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> bulletin released on Tuesday which states that the Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and a fresh round of capital expenditure by the corporate sector is expected to fuel the next leg of growth.<br /><br />Consumer confidence strengthened further in January 2024, driven especially by optimism about the general economic situation and employment conditions, as per the RBI's latest survey of households. Various enterprise surveys also point towards strong business optimism, the RBI bulletin points out.<br /><br />It also states that high frequency indicators point towards sustained strength in demand conditions in the economy during January 2024. E-way bills grew by 13.2 per cent in December 2023. Toll collections expanded by 15.5 per cent year-on-year in January 2024, although they sequentially moderated from a record in the previous month.<br /><br />Automobile sales had registered an expansion of 23.3 per cent year-on-year in January with two wheeler sales recording double digit growth. Retail tractor sales recorded a seven-month high growth at 21.2 per cent year-on-year in January 2024. Vehicle registrations recorded strong year-on-year growth.<br />

India's business activity surges to 7-month high in February

<br /> A survey published by the world’s second largest bank <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword> has revealed that the manufacturing and services sectors in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> grew at a faster pace than that of <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword> in December last year.<br />
 <br />
“Although growth picked up slightly across the world’s main emerging markets on an average, rates of expansion remain subdued,” said Chris Williamson, chief economist at Markit, financial data firm.<br />
 <br /> Data for the four largest emerging economies – China, India, Brazil and <keyword id="6358826" type="COUNTRY" weightage="20" keywordseo="Russia">Russia</keyword> – showed ‘mixed fortunes’ during the month. China registered growth for the eighth consecutive month, while India continued on its path of recovery. On the other hand, Brazil witnessed a decline and Russia continued its downslide.<br />
 <br />
HSBC’s composite index for India was 52.9, China (51.4), Brazil (49.2) and Russia (47.2).<br />
 <br />
“Of the four ‘BRIC’ economies, India saw the strongest rate of expansion in December, despite the rate of expansion slipping from November’s five-month peak,” said Williamson.<br />
 <br />
He also asserted, “The rate of growth for both India and China slowed from an already lacklustre pace.” <br />

India’s Manufacturing, Services Sectors’ Growth Surpassed China’s In December: HSBC Survey

<ul class="summary-list"><li><keyword id="749630" type="ORGANIZATION" weightage="60" keywordseo="US-futures">US futures</keyword> rose on Tuesday morning, the day after the S&amp;P and <keyword id="6357328" type="UNKNOWN" weightage="60" keywordseo="nasdaq">Nasdaq</keyword> hit record highs.</li><li>Investors eagerly awaited Q1 earnings from Microsoft and <keyword id="6357623" type="DEFINITION" weightage="60" keywordseo="alphabet">Alphabet</keyword>, and weighed up <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword>'s results.</li><li>Oil prices climbed as the demand outlook brightened, despite the ongoing COVID-19 pandemic.</li></ul><p>US futures climbed on Tuesday after stocks hit record highs the previous day, with strong growth expectations and optimism ahead of company earnings cheering investors on Wall Street.</p><p>Futures for the tech-heavy <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq 100</a> index climbed 0.15% after it came within a whisker of an all-time high on Monday. The bigger <a href="https://markets.businessinsider.com/index/nasdaq_composite">Nasdaq Composite</a> index hit its first record high since February, helped by the recent drop in bond yields.</p><p><a href="https://markets.businessinsider.com/futures/s&amp;p-500-futuresures">S&amp;P 500 futures</a> climbed 0.11% after the index also hit a record high on Monday. <a href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones futures</a> rose 0.09%.</p><p>In Asia overnight, China's <a href="https://markets.businessinsider.com/index/csi-300">CSI 300</a> rose 0.26% after a late rally, but Japan's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei 225</a> finished 0.46% lower. HSBC's Hong Kong shares rose 2% after it posted a better-than-expected pre-tax profit of $5.8bn, up 79% year on year.</p><p>Europe's continent-wide <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Stoxx 600</a> slipped 0.08%. The UK's <a href="https://markets.businessinsider.com/index/ftse_100">FTSE 100</a> was roughly flat despite oil major BP climbing 0.56% after it too <a href="https://www.businessinsider.com/bp-q1-profit-beats-forecasts-on-strong-gas-trading-2021-4">beat first-quarter profit estimates</a> following a rally in commodity prices.</p><p>The rise in <keyword id="48211" type="ORGANIZATION" weightage="60" keywordseo="US-stocks">US stocks</keyword> to new highs came ahead of a blockbuster week of earnings, which was kicked off by <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> on Monday. The carmaker posted a <a href="https://www.businessinsider.com/tesla-stock-earnings-report-q1-profit-revenue-sales-elon-musk-2021-4">record profit of $438 million</a> but its shares fell 3% pre-market trading, due in part to a lack of specific vehicle delivery estimates for 2021.</p><p>"US earnings session hits top gear this evening," Jeffrey Halley, senior market analyst at Oanda, said.</p><p>"Most attention, though, will be on the technology titans <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> and [Google parent company] <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a>. Apart from the headline numbers, which should be spectacular, most attention will be focused on their growth outlooks and whether those expectations are reined in as the world reopens."</p><p>The reopening of countries after lockdowns led a technical committee for the OPEC group of oil exporters to increase its estimates for demand in 2021, according to <a href="https://www.bloomberg.com/news/articles/2021-04-26/oil-holds-drop-near-62-with-virus-flare-up-looming-over-market">reports</a>. This in turn helped <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude futures</a> climb 0.68% to $65.49 a barrel on Tuesday, while <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">WTI crude</a> rose 0.71% to $62.34 a barrel.</p><p>Oil gained despite the fact that COVID-19 continues to rage around the world, with <a href="https://www.insider.com/india-graveyard-workers-are-burying-dozens-covid-19-victims-day-2021-4">India bearing</a> the brunt of the ongoing pandemic.</p><p>The rapid rollout of vaccines in some countries is set to power a globally unequal recovery from the virus, economists say.</p><p>But things are looking bright for US investors. The US Federal Reserve begins its two-day interest rate meeting Tuesday, and is expected to keep monetary policy very loose over the medium-term.</p><p>Bond yields rose sharply in February, which weighed on stocks, but have since slipped back sharply, making equities look attractive once again. The yield on the key <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year US Treasury note</a> was up 1.3 basis points to 1.583% on Tuesday, well off highs of more than 1.75% reached at the end of March.</p><p>BlackRock analysts, led by Jean Boivin, said in a note on Tuesday: "US activity looks set to restart strongly this year, powered by pent-up demand across income cohorts and sky-high excess savings.</p><p>"Growth forecasts have been catching up... but the magnitude of the restart may still be underappreciated."</p>

US futures head to more record highs ahead of big tech earnings, while oil climbs despite raging global pandemic

<p class="source"><span>Reuters/Mukesh Gupta</span></p><p class="caption">A vendor throws a watermelon that was kept in the waters of a canal to keep the melons cool, towards a customer on a hot summer day in Jammu.</p>Here is what you need to know.<p><strong><a href="http://www.businessinsider.com/pound-price-movements-general-election-wednesday-june-7-2017-6?r=UK&amp;IR=T">The pound drifts little changed ahead of the UK election</a>. </strong>The British pound holds steady near 1.2915 as traders await Thursday's general election. The polls suggest Theresa May's Conservative Party holds a lead of around six points over Jeremy Corbyn's Labour Party, although outliers say that could be as big as 12 points, or as small as one.</p><p><strong><a href="https://www.businessinsider.com.au/the-truth-behind-australias-record-run-without-a-recession-2017-6">Australia ties the Netherlands' record for consecutive quarters without a recession</a>. </strong>Australia's economy grew at a 0.3% clip in the first quarter, making for the 103rd straight quarter without a recession. However, the 0.3% growth was the slowest pace since the global finacial crisis.</p><p><strong><a href="https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=40685">The Reserve Bank of India holds</a>. </strong>India's central bank kept its benchmark interest rate at 6.25% and said it's paying close attention to the recent drop in inflation.</p><p><strong><a href="http://www.businessinsider.com/cash-rich-companies-are-king-in-the-stock-market-right-now-2017-6">Cash-rich companies are king in the stock market right now</a>. </strong>Companies with strong balance sheets are up 11% so far in 2017, outpacing those with weaker balance sheets by 3.5 percentage points, data compiled by Goldman Sachs and Bloomberg show.</p><p><strong><a href="http://www.businessinsider.com/bitcoin-price-is-a-bubble-mark-cuban-says-2017-6">Mark Cuban says bitcoin is a 'bubble.'</a> </strong><span>"</span><span>I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble," </span>The outspoken billionarie tweeted on Tuesday.</p><p><strong><a href="http://uk.businessinsider.com/santander-to-buy-banco-popular-for-one-euro-2017-6?IR=T">Santander bought rival Banco Popular for 1 euro</a>. </strong>Santander will ask investors for about <span>7 billion euros ($7.9 billion) to help strengthen its balance sheet following the acquisition, Reuters says. </span></p><p><strong><a href="http://www.businessinsider.com/hsbc-lawsuit-alleged-forex-2017-6?r=UK&amp;IR=T">HSBC could face a fresh lawsuit over alleged forex manipulation</a>. </strong>The bank's traders allegedly manipulated markets to boost their own profits at the expense of clients, the Financial Times reports.</p><p><strong><a href="http://www.businessinsider.com/r-goldman-sachs-boost-rates-for-savers-in-bid-to-attract-deposits-2017-6?IR=T">Goldman Sachs is boosting the rate it offers customers on deposits</a>. </strong>Goldman is now offering a 1.2% rate on desposits, up from its previous 1.05% rate, Reuters says. The national average is 0.06%.</p><p><strong><a href="http://markets.businessinsider.com/indices">Stock markets around the world are higher</a>. </strong>China's Shanghai Composite (+1.2%) outperformed in Asia and France's CAC (+0.6%) leads the gains in Europe. The S&amp;P 500 is set to open up 0.1% near 2,434.</p><p><strong>US economic data is light. </strong>Consumer credit will cross the wires at 3 p.m. ET. The US 10-year yield is up 1 basis point at 2.15%.</p>            <h3>NOW WATCH: <a href="http://www.businessinsider.com/navy-seals-jocko-willink-leif-babin-getting-up-early-practical-self-discipline-2017-5">Former Navy SEAL commanders explain why they still wake up at 4:30 a.m. - and why you should, too</a></h3>                                    Please enable Javascript to watch this video

10 things you need to know before the opening bell

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;ALID=2C0BF1F1SOWVJ#/SearchResult&amp;ALID=2C0BF1F1SOWVJ&amp;VBID=2C0BX4EZRVIH&amp;POPUPPN=4&amp;POPUPIID=2C0BF1FTA0O16">REUTERS/Danish Ismail</a></span></p><p class="caption">A man walks through a garden on an autumn day in Srinagar, India November 15, 2016.</p></div><p></p></div></div>Good morning! Here's what you need to know in markets on Wednesday.</p><p><a href="http://uk.reuters.com/article/uk-eu-antitrust-euribor-hsbc-idUKKBN13A2QE"><strong>EU antitrust regulators are set to fine HSBC, JPMorgan, and Credit Agricole by the end of the year for rigging financial benchmarks linked to the euro, two people familiar with the matter said on Tuesday.</strong></a> Reuters reports that charges were levied in May 2014 against the three banks, which denied wrongdoing. The European Commission could penalise HSBC, JPMorgan, and Credit Agricole next month, the people said. The decision has been delayed several times and another hold-up could still occur.</p><p><a href="http://uk.businessinsider.com/google-to-open-new-uk-hq-with-3000-jobs-2016-11"><strong>Google still plans to open a new UK headquarters building in London, which the BBC reports could create up to 3,000 jobs in the country by 2020.</strong></a> Sundar Pichai, the CEO of Google, told the BBC the company sees "big opportunities" in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> despite the country's vote to exit the European Union in June.</p><p><strong>Employment and wage data is coming.</strong> UK earnings and job figures for September and October are due at 9.30 a.m. GMT (4.30 a.m. ET). The unemployment rate is forecast to remain steady at 4.9% and wage growth is forecast to be 2.3%, the same as in the prior month.</p><p><strong><a href="http://uk.businessinsider.com/closing-bell-november-15-2016-2016-11">The Dow Jones Industrial Average rallied for a seventh straight day on Tuesday, clinching another record closing high overnight near 19,000.</a></strong> The rout in the bond market finally paused as traders bought <a href="http://www.businessinsider.com/treasury-bond-market-update-november-15-2016-2016-11">Treasurys,</a> sending yields lower for the first time since last week's election.</p><p><strong><a href="http://www.businessinsider.com/r-nikkei-buoyed-by-weaker-yen-higher-yields-lift-lenders-2016-11">Japan's Nikkei hit a 9 and a half month high.</a> </strong>The Japanese stock market closed up 1.1% at its highest level since February, buoyed by the weak yen helping exporters. Elsewhere in Asia, China's Shanghai Composite is down 0.07% at the time of writing (6.25 a.m. GMT/1.25 a.m. ET) and the Hong Kong Hang Seng is up 0.45%.</p><p><a href="https://www.ft.com/content/6b97702c-ab68-11e6-9cb3-bb8207902122"><strong>Saudi Arabia will reveal how much oil it is sitting on as it prepares to sell shares in Saudi Aramco.</strong></a> "This is going to be the most transparent national oil company listing of all time," Khalid al-Falih, Saudi Arabia's energy minister, told the Financial Times in an interview.</p><p><strong><a href="http://uk.businessinsider.com/intel-250-million-investment-autonomous-driving-2016-11">Intel will invest more than $250 million (£200 million) to make autonomous driving a reality.</a> </strong>Intel wrote in a press release that the investment will be geared toward advancing tech related to connectivity, communication, deep learning, and cybersecurity for cars.</p><p><a href="http://uk.businessinsider.com/deutsche-bank-promotes-michael-santini-john-anos-greg-sommer-2016-11"><strong>Deutsche Bank has shaken up some of its senior ranks in its US investment bank.</strong></a> The firm has promoted Michael Santini to vice chairman of Americas corporate finance and John Anos to cohead of global industrials alongside Richard Sheppard.</p><p><a href="http://uk.businessinsider.com/r-morgan-stanley-executives-earn-105-million-in-post-election-rally-2016-11"><strong>Senior Morgan Stanley executives collectively earned about $10.5 million (£8.4 million) over the past week by exercising options and selling shares, with most of them profiting from an election-fueled rally in bank stocks, according to securities filings.</strong></a> The executives made the sales after shares of Morgan Stanley, which traded as low as $22 in the last 12 months, reversed course to become the best performing of the six largest US banks so far this year, closing Monday at $39.35.</p><p><a href="https://www.theguardian.com/uk-news/2016/nov/15/revealed-temp-agencies-avoidance-scheme-costs-taxpayers-hundreds-of-millions"><strong>An aggressive tax avoidance scheme used by temp recruitment agencies is depriving the taxpayer of "hundreds of millions" of pounds a year, a Guardian investigation has found.</strong></a> A number of agencies have been making large windfalls by using "contrived" financial arrangements to slash their employer's national insurance bills.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/most-interesting-men-world-watches-rolex-breitling-jorg-gray-2015-8">These are the watches worn by the smartest and most powerful men in the world</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="N3NGJ0djpb_DdQzkXVopAvbq5AmmiuOx" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

10 things you need to know in markets today

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Here is what you need to know.</p><p><strong>Warren Buffett published the 50th annual letter to Berkshire shareholders.</strong> The conglomerate announced <a href="http://www.businessinsider.com/warren-buffett-2014-berkshire-hathaway-letter-to-shareholders-2015-2">earnings of $2,412 per Class A share</a>, missing analyst expectations of $2,702. The company has returned 1,826,163% since Buffett first began the letter in 1965.<strong> <br /></strong></p><p><strong>There was a lot of stuff in Buffett's letter.</strong> Among other things, <a href="http://www.businessinsider.com/warren-buffett-a-monumentally-stupid-decision-2015-2">Buffett admitted regretting that he didn't sell Berkshire in 1964</a>, <a href="http://www.businessinsider.com/warren-buffetts-100-billion-mistake-2015-2">he revealed a blundered insurance acquisition that cost him $100 billion</a><strong>, </strong><a href="http://www.businessinsider.com/warren-buffett-on-conglomerates-and-private-equity-2015-2">he took a huge shot at the private equity business</a>, and <a href="http://www.businessinsider.com/warren-buffett-endorses-airbnb-2015-2">he gave an endorsement to Airbnb</a>.<strong><br /></strong></p><p><strong>China cut rates. </strong><a href="http://www.cnbc.com/id/102465368">The People's Bank of China lowered both its one-year loan rate and one-year deposit rate 25 basis points</a> to 5.35% and 2.5%, respectively. The action comes after <a href="http://www.wsj.com/articles/china-new-home-prices-drop-in-february-1425122703">last week's data</a> showed Chinese home prices were off 3.8% year-over-year.  </p><p><strong>China's Purchasing Managers Indices outpaced estimates. </strong>Beijing saw a trio of numbers that were better than expected as <a href="http://www.wsj.com/articles/chinas-official-manufacturing-pmi-edges-up-in-february-1425173509">Manufacturing PMI</a>, <a href="http://www.nasdaq.com/article/china-official-nonmanufacturing-pmi-539-in-feb-vs-537-in-jan-20150228-00036">Non-Manufacturing PMI</a>, and <a href="http://www.reuters.com/article/2015/03/02/us-china-economy-pmi-idUSKBN0LY04020150302">HSBC Final Manufacturing PMI</a> all topped forecasts. Notably, the Manufacturing PMI reading remained in contraction with a 49.9 print. China's yuan fell to 6.2729 versus the dollar, its lowest since October 2012. <strong><br /></strong></p><p><strong>India passes Modi's budget. </strong><a href="http://in.reuters.com/article/2015/03/01/india-budget-idINKBN0LX1DE20150301">Borrowing within the budget was below market expectations</a> as Prime Minister Modi's government looks to improve infrastructure and crack down on the black-market economy. India's rupee is little changed at 61.85 against the dollar.  </p><p><strong>European data mostly impressed.</strong> CPI Flash Estimate ticked up to -0.3% year-over-year from -0.6%, and the region's unemployment improved to 11.2% (11.3% previous). Spain's Manufacturing PMI was the only disappointment, sliding to 54.2 from 54.7. The euro is on session highs, up 0.3% at 1.1230. </p><p><strong>Britain's Manufacturing PMI hit its best level since August. </strong><a href="http://uk.reuters.com/article/2015/03/02/uk-britain-economy-pmi-idUKKBN0LY0QW20150302">The reading climbed to 54.1</a>, outpacing the 53.5 that was expected. The British pound is down 0.2% at 1.5410. </p><p><strong>Samsung launched its new line of Galaxy phones. </strong>The Galaxy S 6 and Galaxy S 6 Edge were unveiled in Barcelona, Spain. The company also announced its <a href="http://uk.businessinsider.com/samsung-pay-announced-2015-2#ixzz3TCumtY6o%20">new payment platform</a>, which is expected to compete with Apple Pay. </p><p><strong>Global stock markets are higher. </strong>China's Shanghai Composite (up 0.8%) led Asian stock markets higher. In Europe, Britain's FTSE (up 0.3%) paces the advance. </p><p><strong>US economic data remains heavy. </strong>Core PCE Price Index, personal income, and personal spending are all due out at 8:30 a.m. ET. Those numbers will be followed by Final Manufacturing PMI at 9:45 a.m. ET, and ISM Manufacturing PMI and construction spending at 10 a.m. ET. Read Business Insider's preview of the data in the <a href="http://www.businessinsider.com/monday-scouting-report-mar-2-2015-2015-3">Monday Scouting Report</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nationwide-insurance-industry-loss-ratio-2015-2">Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9rbTk0czrPq8J40cVbMQn_BvP7NgiiIY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Here is what you need to know.</p><p><strong>Crude oil hit a six-year low. </strong>West Texas Intermediate crude oil fell to $43.57 per barrel in overnight trade, touching its <a href="http://www.cnbc.com/id/102506509">lowest level since March 2009</a>. Currently, crude oil is down 0.4% at $44.66 per barrel. </p><p><strong>Vladimir Putin reappeared today. </strong>The Russian President <a href="http://www.businessinsider.com/what-is-putin-doing-2015-3#ixzz3UWqOOHLc">had not made a public appearance in 11 days</a>. Mr. Putin is in St. Petersburg to meet with the <span>president of Kyrgyzstan</span>. Russia's ruble is flat at 62.23.   </p><p><strong>Greece's finance minister is making headlines for all the wrong reasons. </strong>Greek Finance Minister Yanis Varoufakis had a rough weekend. First, he said he <a href="http://greece.greekreporter.com/2015/03/15/greek-finmin-varoufakis-i-regret-paris-match-photo-shoot/">regretted his photo shoot</a> for Paris Match. Then, he <a href="http://www.cnbc.com/id/102505966">stormed out of a CNBC interview</a> when asked if he was a liability. Finally, he had to address what appears to be him <a href="http://www.dw.de/varoufakis-greece-has-things-under-control/a-18317748">giving the finger to the German government</a> while taking part in an interview. Greece's 3-year yield is higher by 13 basis points at 18.83%.</p><p><strong>Premier Li Keqiang says it will be difficult for China to achieve its growth target of around 7%. </strong><a href="http://www.businessinsider.com/r-china-premier-says-wont-be-easy-to-grow-economy-by-7-percent-in-2015-2015-3">Reuters reports</a>, "The government will loosen policies, if needed, in a targeted manner to prevent the economy from slowing too much, or avoid a sharp decline in employment." China's ticked up 0.1% to 6.2620. </p><p><strong>Goldman Sachs says the euro will fall to $0.80. </strong><span>In a note released on Friday, the investment bank predicted the euro would fall to parity in six months and </span><a href="http://www.businessinsider.com/goldman-sachs-euro-parity-forecast-2015-3">$0.80 by the end of 2017</a><span>. The call comes a couple of days after </span><a href="http://www.businessinsider.com/deutsche-bank-euro-085-2015-3">Deutsche Bank announced</a><span> it saw the euro hitting $0.85 before 2017.</span></p><p><strong>India's Wholesale Price Index plunged. </strong>India's wholesale prices fell for a fourth straight month. The 2.06% year-over-year drop was <a href="http://www.wsj.com/articles/indias-wholesale-price-index-inflation-rate-falls-in-february-1426491322">largely a result of a decline in commodity prices</a>. India's rupee is stronger by 0.2% at 62.85. </p><p><strong>European Central Bank President Mario Draghi speaks.</strong> Mr. Draghi will take the mic to discuss "The Future of the Finance Industry - Between Growth and Regulation" at the SZ Finance Day 2015 in Frankfurt, Germany. The euro is up 0.3% at 1.0530. </p><p><strong>The private banking arm of HSBC faces new criminal charges. </strong>A french judge has <a href="http://uk.businessinsider.com/explanation-of-hsbc-tax-evasion-scandal-2015-3">requested the investment bank be put on trial</a> for allegedly helping wealthy clients avoid paying taxes. France is one of 10 countries looking into the claims.  </p><p><strong>Germany's DAX climbed above 12,000 for the first time ever. </strong>Germany's DAX (+1%) is making headlines, crossing the psychologically important 12,000 level, but it is Italy's MIB (+1.2%) that leads Europe higher. Overnight in Asia, China's Shanghai Composite (+2.4%) led and Australia's ASX (-0.3%) lagged.<strong> </strong></p><p><strong>US economic data is heavy.</strong> Empire Manufacturing is due out at 8:30 a.m. ET while industrial production and capacity utilization are scheduled for 9:15 a.m. ET. The NAHB Housing Market Index will be released at 10 a.m. ET before data concludes for the day at 4 p.m. with Net Long-Term TIC Flows. <strong> </strong></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nationwide-insurance-industry-loss-ratio-2015-2">Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9rbTk0czrPq8J40cVbMQn_BvP7NgiiIY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Good morning. Here is what you need to know.</p><p><strong>The Reserve Bank of India announced a surprise rate cut. </strong>India's central bank <a href="http://in.reuters.com/article/2015/03/04/rbi-monetary-policy-rat-cut-idINKBN0M007Y20150304">lowered its repo rate by 25 basis points to 7.50%</a>. The move marks the second rate cut of 2015, and comes as the RBI warns the rupee is too strong. Post-rate cut action has the rupee down 0.6% at 62.26 per dollar.</p><p><strong>China lowers rates for commercial lenders. </strong>The People's Bank of China <a href="http://www.wsj.com/articles/chinas-central-bank-cuts-interest-rates-on-special-lending-tools-1425460017">cut its overnight lending rate</a> 50 basis points to 4.50% and its seven-day rate 150 basis points to 5.50%. The rate cut is designed to provide further relief to what appears to be a slowing Chinese economy. China's yuan was little changed at 6.2710 per dollar and remains near levels last seen in October 2012.  </p><p><strong>China's services sector is improving.</strong> <a href="http://www.reuters.com/article/2015/03/04/us-china-economy-services-pmi-idUSKBN0M004Q20150304">HSBC Services PMI ticked up</a> to 52.0 (51.8 previous), recovering a portion of February's drop. Analysts warn today's number cannot be looked at too closely because of the timing of the Chinese New Year. <strong> </strong></p><p><strong>Australia's GDP fell short. </strong><a href="http://www.abc.net.au/news/2015-03-04/gdp-growth-slows-in-december-quarter/6279428">Australia's GDP grew 0.5% quarter-over-quarter</a>, missing the 0.7% growth that analysts were expecting. Annually, the Australian economy posted a 2.5% advance, which made for a downtick from the prior reading of 2.7%. Interestingly, the mining sector was flat. The Australian dollar is up 0.2% at .7835. </p><p><strong>Fed Chair Janet Yellen lashed out against big banks. </strong>Speaking <a href="http://www.cnbc.com/id/102474616">last night at the Citizens Budget Commission's Annual Awards Dinner</a>, in New York, Chair Yellen suggested, "There may be pervasive shortcomings in the values of large financial firms that might undermine their safety and soundness." </p><p><strong>Investors continue to pull their money from PIMCO. </strong><span>Investors redeemed $8.6 billion from the PIMCO Total Return Fund in January, marking </span><a href="http://www.businessinsider.com/r-investors-pull-86-billion-from-pimco-total-return-fund-in-february-2015-3#ixzz3TOfCpuhD">a 22nd straight month of outflows</a><span>. The fund was formerly run by co-founder Bill Gross, who left for Janus in September. </span><strong> </strong></p><p><strong>Euro zone retail sales surged. </strong>Retail sales jumped 1.1% in January, posting their <a href="http://www.wsj.com/articles/eurozone-retail-sales-surge-1425463568">fourth straight month of gains</a>. Meanwhile, Services PMI numbers from region were mixed. <a href="http://www.rttnews.com/2465696/eurozone-private-sector-pmi-rises-less-than-initial-estimate.aspx">France was a notable standout</a> as its reading surged to a 42-month high of 52.2 to regain the expansion line. The euro is down 0.4% at 1.1130 and near a 12-year low.</p><p><strong>Britain's Services PMI missed estimates.</strong> Today's reading slipped to 56.7 (57.2 previous) as <a href="http://www.bloomberg.com/news/articles/2015-03-04/u-k-services-unexpectedly-cool-as-input-price-growth-picks-up">higher input costs and wages</a> put a squeeze on companies. Britain's pound is little changed near 1.5345.  <strong> </strong></p><p><strong>Global stocks are mixed. </strong>A mixed session in Asia saw China's Shanghai Composite lead (+0.5%) and Hong Kong's Hang Seng (-1%) lag. In Europe, Spain's IBEX (-0.5%) paces the decline.<strong> </strong></p><p><strong>US economic data is light. </strong>ADP Employment Change is due out at 8:15 a.m. ET and crude oil inventories will cross the wires at 10:30 a.m. ET. The U.S. Dollar Index is higher by 0.3% at 95.70 and trading at levels last seen in September 2003.<strong style="line-height: 1.5em;"><br /></strong></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Here is what you need to know. </p><p><strong>China's economy is slowing. </strong>China's economy grew at a 7.0% year-over-year clip, matching economists' expectations. While the number was in-line, <a href="http://www.businessinsider.com/chinas-gdp-is-on-target-but-the-data-beneath-is-nasty-2015-4">growth was measurably slower than the 7.3% pace experienced in the fourth quarter of 2014</a>. Industrial production climbed 5.6% YoY, missing the 6.9% YoY forecast. China's yuan edged up 0.1% to 6.2051. </p><p><strong><strong>Europe has accused Google of antitrust violations. </strong></strong>The <a href="http://www.businessinsider.com/europe-accuses-google-of-antitrust-violations-2015-4">EU's statement</a> noted, "The Commission will assess if, by entering into anticompetitive agreements and/or by abusing a possible dominant position, Google has illegally hindered the development and market access of rival mobile operating systems, mobile communication applications and services in the European Economic Area (EEA)." In addition to the antitrust suit, the EU also announced an investigation into Google's Android platform. </p><p><strong>Frustration with Greece is growing. </strong>A report from German newspaper Süddeutsche Zeitung quoted a senior eurozone official as saying <a href="http://uk.businessinsider.com/a-senior-eurozone-figure-says-its-impossible-to-work-with-greece-and-theyll-miss-their-deadline-for-a-deal-2015-4">its "simply impossible" to negotiate with the Greek government</a>. A Eurogroup summit is scheduled for April 24, but no deal is expected to be reached at that time. <a href="http://uk.businessinsider.com/greece-made-its-big-imf-debt-repayment-2015-4">HSBC</a> has previously stated May 12 is a possible date for default. Greece's 3-year yield is higher by 42 basis points at 23.31%. </p><p><strong>The ECB will announce its latest interest rate decision. </strong>The European Central Bank's Statement is due out at 7:45 a.m. ET and Mario Draghi's press conference is scheduled for 8:30 a.m. ET. No changes to policy are expected. The euro is weaker by 0.6% at 1.0592. </p><p><strong>The US could become a net exporter of energy by 2020.</strong> The Energy Information Administration believes <a href="http://www.wsj.com/articles/u-s-could-eliminate-net-energy-imports-by-2030-1429037457">the US might end its dependence on foreign oil as early as 2020</a>. The EIA now believes US production will peak at 10.6 million barrels per day in 2020, up from its previous projected peak of 9.6 billion barrels per day by 2019. <span>EIA Administrator <span>Adam Sieminski added, </span></span>"Advanced technologies are reshaping the U.S. energy economy" He continued, "The projections show the potential to eliminate net U.S. energy imports in the 2020 to 2030 time frame."</p><p><strong>Bank of America posted a mixed quarter. </strong>The investment bank announced adjusted earnings of $0.36 per share, topping the $0.29 per share that was expected. Revenues came out at $21.4 billion, missing the $21.6 billion that analysts were expecting. "We see continued encouraging signs in customer and client activity, with consumer spending increasing and utilization of credit by our commercial customers rising," <a href="http://www.businessinsider.com/bank-of-americas-moynihan-on-the-economy-2015-4">Bank of America CEO Brian Moynihan said in its Q1 earnings press release</a>.</p><p><strong>Intel reported an in-line quarter. </strong>The chip maker announced earnings of $0.41 per share on revenues of $12.8 billion. <a href="http://uk.businessinsider.com/intel-earnings-match-estimates-2015-4#ixzz3XM1OXARt">Both numbers matched analyst estimates</a>. Intel CEO <span>Brian Krzanich said in a statement, </span><span style="line-height: 1.5em;">"Year-over-year revenues were flat, with double-digit revenue growth in the data center, IoT and memory businesses offsetting lower than expected demand for business desktop PCs." He continued, "These results reinforce the importance of continuing to execute our growth strategy."</span></p><p><strong>India's WPI Inflation fell for a 5th straight month. </strong>Wholesale prices in India slumped to -2.33% YoY, posting its <a href="http://news.yahoo.com/indias-wholesale-inflation-decelerates-5th-month-090016983.html">lowest reading in more than three decades</a>. The number remains largely impacted by the price of petrol, which fell 17.7%.<strong> </strong>India's rupee is up 0.2% at 62.41 per dollar.  </p><p><strong>Global stock markets trade mixed. </strong>China's Shanghai Composite (-1.2%) led Asian stock markets lower and Italy's MIB (+1%) paces the advance in Europe. </p><p><strong>US economic data is moderate. </strong>The Empire State Manufacturing Index is due out at 8:30 a.m. ET while both industrial production and capacity utilization are set to cross the wires at 9:15 a.m. ET. The NAHB Housing Market Index will be released at 10 a.m. ET. The US 10-year yield is little changed near 1.90%</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-much-sex-happy-couples-have-every-month-relationships-science-2015-3">Here's how much sex happy couples have every month</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="kzam9yczoRday4iMwxqmAYMJtrg2etNb" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Here is what you need to know.</p><p><strong>Greece missed its debt payment. </strong><a href="http://www.businessinsider.com/greece-misses-its-imf-payment-2015-6">Greece's government missed its 1.6 billion euro ($1.8 billion) payment to the IMF</a> due on Tuesday, and is now in arrears along with Somalia, Sudan and Zimbabwe. The missed payment is the largest ever owed to the IMF.</p><p><strong>Greek PM Tsirpas reportedly will accept the latest bailout proposal 'with changes.' </strong><a href="http://www.businessinsider.com/greece-debt-update-tsipras-compromise-letter-2015-7">Tsipras reportedly wrote a letter to Greece's creditors asking for these two creditor demands to be amended</a>. 1) "A 30% VAT discount to Greek islands to be maintained" and 2) "The process of raising the retirement age to 67 should not start immediately but in October," according to the letter, which was originally obtained by the Financial Times.</p><p><strong>European manufacturing reports were mixed. </strong>Growth in <a href="http://www.markiteconomics.com/Survey/PressRelease.mvc/e0f406c95af54c3c9895dc2cd120d783">Germany's manufacturing sector accelerated</a> in June as Manufacturing PMI hit 51.9, up from 51.1 in May. The reading was in-line with estimates. Elsewhere, <a href="http://www.markiteconomics.com/Survey/PressRelease.mvc/5afa0d2c44ca4c3cbbfc5f2871494740">France's Manufacturing PMI returned to expansion</a> with a reading of 50.7, up from 49.4 in May. The reading beat economist expectations of 50.5. The euro is down 0.3% at 1.1116.</p><p><strong>Chinese manufacturing disappointed. </strong>China's Manufacturing PMI held at 50.2, falling shy of the 50.3 that was expected. <a href="http://www.cnbc.com/id/102800972">HSBC Manufacturing PMI also missed the mark</a>, registering a reading of 49.4, compared to the 49.6 that economists were expecting. The number has been in contraction since November, aside from an abbe ration in February.</p><p><strong>Macau gaming revenue tumbled to levels last seen in November 2010. </strong><a href="http://www.bloomberg.com/news/articles/2015-07-01/macau-casino-revenue-hits-lowest-since-november-2010">Casinos in Macau saw gaming revenue sink 36.2% year-over-year</a> to 17.4 billion pacatas, according to data released by Macau's Gaming Inspection and Coordination Bureau. Bloomberg reports, "The decline in June has eased for a fourth straight month since February, when gaming revenue plunged 48.6 percent for the worst monthly drop on record." The recent weakness has not stopped new casinos from opening as <a href="http://www.businessinsider.com/3-billion-casino-rises-as-macaus-gaming-industry-plummets-2015-6">Galaxy Macau just launched a $3 billion expansion</a>.</p><p><strong>Chinese stocks crashed. </strong>The Shanghai Composite collapsed 5.2% as trade continued its volatile ways. The index has not finished with a move of less than 1% since June 12, and has experienced closes of -5.2%, +5.5%, -7.4% and -3.5% over the past week. Elsewhere,<span>France's CAC (+2.2%) leads the advance in Europe after Hong Kong's Hang Seng (+1.1%) paced the gains in Asia. S&amp;P 500 futures are higher by 17 points at 2071.50.</span></p><p><strong>Phil Knight is stepping down as Nike chairman. </strong>Phil Knight, Nike's co-founder and chairman, says he wants current President and CEO Mark Parker to succeed him as Chairman of the Board. <a href="http://www.businessinsider.com/nike-cofounder-and-chairman-phil-knight-is-stepping-down-2015-6">Knight is said to be transferring most of his Nike stock to a Swoosh LLC</a>, where is made up of himself, Parker, and Nike directors Alan Graf and John Donahoe will serve as directors. Reuters reports, "Because Knight owns a large amount of Nike's Class A shares, which aren't publicly traded, Swoosh now has the power to elect three-quarters of Nike's board."</p><p><strong>Ace is buying Chubbs for $28.3 billion. </strong><a href="http://www.businessinsider.com/ace-to-acquire-chubb-for-283-billion-2015-7">Chubb shareholders will receive $62.93 per share in cash and 0.6019 in Ace shares</a>. "We are thrilled to announce the acquisition of Chubb, a venerable company with a great brand," Evan G. Greenberg, Chairman and CEO of ACE Limited, said in a statement.</p><p><strong>AT&amp;T is expected to receive regulatory approval for its Directv acquisition.</strong> Reuters reports, people familiar with the matter suggest <a href="http://www.reuters.com/article/2015/06/30/us-dirctv-at-t-m-a-idUSKCN0PA2Y820150630">AT&amp;T will receive regulatory approval for its proposed $48.5 billion buyout of Directv as early as next week</a>. According to Reuters, "The FCC and AT&amp;T have been in negotiations over conditions for the merger for several weeks, the people said, adding that none of the conditions are controversial enough to break the deal." If a deal is completed it would be between the second largest wireless carrier and the largest satellite-TV provider. </p><p><strong>US economic data is heavy. </strong>ADP Employment Change is scheduled to 8:15 a.m. ET and will be followed by construction spending and ISM Manufacturing at 10 a.m. ET. US crude oil inventories are set for release at 10:30 a.m. ET. Auto and truck sales will cross the wires throughout the day.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/prevent-blisters-jogging-running-shoes-sneakers-athletic-shoelace-hole-2015-5">Someone figured out the purpose of the extra shoelace hole on your running shoes - and it will blow your mind</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lyNnMwdToPHeoBdqEnriXIBVrqyIR6er" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

<p><div class="KonaFilter image-container float_right" style="width:400px"><div class="image on-image"><p class="source">REUTERS/David Gray </p><p class="caption">A female Rural Fire Service (RFS) firefighter walks through a burnt area after trying to extinguish a small fire approaching homes near the Blue Mountains suburb of Blackheath, located around 70 km (43 miles) west of Sydney, October 23, 2013. </p></div><p></p></div>Good morning! Here's what you nee t to know.</p>
<ul>
<li>Markets were mostly higher. Korea's Kospi led in Asia at 0.54%. In Europe, Germany's DAX was up 0.45%. U.S. futures were up about 0.30%.</li>
<li>China's purchasing managers index for October <a href="http://www.businessinsider.com/october-hsbc-china-flash-pmi-2013-10#ixzz2idKwjgG9">printed a seven-month high 0f 50.9</a>, beating expectations of 50.4. "This implies that China's growth recovery is becoming consolidated into 4Q following the bottoming out in 3Q. This momentum is likely to continue in the coming months, creating favorable conditions for speeding up structural reforms," HSBC chief China economist Hongbin Qu said.</li>
<li>However, a key Chinese money rate, the seven-day bond repurchase rate, climbed 150 bps week-on-week to a four-month high, raising some concern of  liquidity problems, <a href="http://www.ft.com/intl/cms/s/0/f93f8cb0-3c5e-11e3-b85f-00144feab7de.html#axzz2idNScVuQ">the FT reported.</a> <span>The spike echoes </span><a href="http://www.businessinsider.com/china-credit-crisis-chart-private-sector-leverage-2013-7">this summer's Shibor surge</a>. </li>
<li><span style="font-size: 15px; line-height: 1.5em;">Europe is still growing, but it's slowed down a bit. The Eurozone's composite PMI </span><a href="http://www.businessinsider.com/france-germany-eurozone-flash-oct-pmi-2013-10#ixzz2idR2YDNi">declined to 51.5 from 52.2</a><span style="font-size: 15px; line-height: 1.5em;">. "</span><span style="font-size: 15px; line-height: 1.5em;">Although modest, the expansion is reassuringly broad-based across the region, reflecting signs of economic recoveries becoming more entrenched in the periphery as well as ongoing expansion in Germany and stabilisation in France," Markit's Chris Williamson said. </span></li>
<li>This is the busiest earnings day of the year, with 358 different firms releasing their Q3 figures. Before the bell we get, among others, 3M ($1.75/share expected), Altria ($0.64/share expected), Colgate ($0.73/share<span> expected</span>), Dunkin Donuts ($0.43/share<span> expected</span>), Ford ($0.37/share<span> expected</span>), Southwest Airlines ($0.33/share<span> expected</span>), and Xerox ($0.25/share<span> expected</span>). Amazon ($-0.09/share expected) and Microsoft ($0.54/share expected) also report, after the bell. </li>
<li>We also get a raft of new economic data this morning. At 8:30, weekly jobless claims print, with 335,000 expected versus 358,000 prior; and August international trade data, with a decline of -$900 million expected. Just before 9 am, October flash PMI prints, with a decline of 0.01 to 52.7 expected. Finally at 10 am, we get the Job Openings and Labor Turnover Survey (JOLTS). </li>
<li>The Obama Administration appears ready to extend the open enrollment period to sign up for health insurance at least through March, <a href="http://www.businessinsider.com/even-democrats-are-talking-about-delaying-obamacare-after-disastrous-rollout-2013-10">Reuters' David Morgan and Mark Felsenthal report</a>. And pressure is now mounting from Democrats to make additional reforms to the Affordable Care Act's centerpiece, the health insurance exchanges. "Representative James Clyburn of South Carolina, the third-ranking House Democrat, criticized the website for forcing consumers to provide private information before deciding what kind of health insurance plan they want to buy. 'I've talked to too many people who tell me before they ever get around to figuring out what it is they want to buy, they're having to answer questions that they don't feel they should be answering,' Clyburn said.</li>
<li>India is now expected to see its GDP decline to the lowest level in more than a decade. Reuters polled 24 economists, who now see growth slowing to 4.7% - the same figure the World Bank recently came up with. "India's ailing economy is likely to remain under pressure from weak domestic and foreign demand for some time, while uncertainty ahead of elections next year is expected to keep investors and businesses at bay," <a href="http://www.businessinsider.com/economists-expect-india-to-grow-47-2013-10#ixzz2idQcjUAJ">Reuters' </a><a href="http://www.reuters.com/">Rahul Karunakar and Ashrith Rao Doddi write</a></li>
<li>The CEO of British based WPP, the world's largest ad firm by revenue, <a href="http://online.wsj.com/news/articles/SB10001424052702304069604579154992904245178?mod=WSJ_hps_LEFTTopStories">told the Wall Street Journal</a> that allegations the U.S. was spying on its own allies would damage both "brand America" as well as the ad industry, since it could lead to commercial data collection becoming more restrictive.  "If Germany's Chancellor is bugged-true or not-the bare suggestion of this is bad," Mr. Sorrell said. "Imagine [CEO of rival Publicis Groupe SA Maurice Levy ] calling me to assure me that he wasn't tapping my phone, or the other way round…It's pretty serious stuff."</li>
<li>Bitcoin prices briefly hit $230 overnight and remain above $200 this morning on the Mt. Gox exchange, recalling the insane surge that occurred this spring and reflecting the resiliency of the digital currency.</li>
</ul>

You Searched For "hsbc india composite" and got 12 results

India's Jan services PMI hits 6-month high amid strongest upturn in new business since mid-2023

PTI

India's business activity surges to 7-month high in February

IANS

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