1. Roses are red, markets are too: there is a fair bit of pink within the stock markets right now, however losses aren’t so steep that they may destroy your coronary heart.
U.S. inventory futures are flat.
Most Asian markets closed in poor territory. stocks are mixed in Europe.
The lackluster motion comes after U.S. stocks hit contemporary file highs on Monday.
The Dow Jones industrial reasonable and S&P 500 have each rallied by way of between 3% to 4% for the reason that start of the 12 months. The Nasdaq is up a whopping 7%.
Shares in iPhone maker Apple (AAPL, Tech30) are trading close to their highest degree ever.
2. Janet Yellen within the hot seat: Federal Reserve chief Janet Yellen is giving semi-annual testimony to the U.S. Senate at 10 a.m. ET.
The Fed is thought to be the driving force behind the multi-12 months bull market rally in shares for the reason that great Recession.
What Yellen says concerning the timing and magnitude of future rate of interest hikes could maintain the rally going full steam beforehand — or cease it dead in its tracks.
The Fed final raised rates in December.
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three. stocks to watch — GM, credit Suisse, Rolls-Royce: Shares in general Motors (GM) are getting a four% boost premarket after automaker PSA crew mentioned it can be taking into account buying GM’s Opel industry unit in Europe.
Shares in credit score Suisse (CS) are rising through about three% after the ecu financial institution stated it will cut as much as 6,500 jobs. It also stated that it misplaced 2.four billion Swiss francs ($ 2.4 billion) in 2016.
Rolls-Royce (RYCEY)is having a troublesome day in London buying and selling. Shares within the aircraft engine-maker fell by using about four% after the agency warned that pre-tax earnings in 2016 have been down 49%.
The British engineering giant stated in January that it reached settlements with authorities within the U.okay., the U.S. and Brazil over bribery allegations. These large settlements contributed to the drop in profit.
4. Tech hassle: Toshiba’s (TOSYY) chairman is stepping down as the firm printed a $ 6.3 billion writedown at its U.S. nuclear business.
the japanese conglomerate ignored its personal deadline to record earnings past on Tuesday, sending shares down eight% in Tokyo.
Toshiba stock has lost about 1/2 its worth since the firm warned in December that it used to be anticipating billion of greenbacks in nuclear-associated losses.
In South Korea, prosecutors are once more in search of an arrest warrant for the heir to the Samsung (SSNLF) business empire.
Lee Jae-yong, Samsung’s de facto leader, has been beneath investigation as part of an enormous political corruption scandal that has rocked South Korea.
Prosecutors are additionally searching for an arrest warrant for Samsung Electronics President Park Sang-jin.
A decide will make a decision whether or not the arrest warrants are legitimate.
5. revenue and economics: Dr Pepper Snapple (DPS), Molson Coors (tap), and T-mobile (TMUS) are releasing earnings prior to the open Tuesday, whereas Caesars entertainment (CZR) and Fossil (FOSL) plan to file income after the close.
On the commercial front, new data displays the U.ok. financial system is experiencing larger inflation following its determination to go away the ecu Union.
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6. Coming this week:
Tuesday – Janet Yellen testifies before the U.S. Senate; T-mobile (TMUS) cash
Wednesday – Cisco (CSCO, Tech30), PepsiCo (PEP), TripAdvisor (go back and forth) and Kraft Heinz (KHC) salary
Thursday – Labor secretary nominee Andrew Puzder has his Senate affirmation listening to; Wendy’s (WEN) earnings
Friday – Campbell Soup (CPB) and Deere (DE) income; Wells Fargo (WFC) CEO expected to answer Senate’s letter about its latest controversies
CNNMoney (London) First printed February 14, 2017: 5:35 AM ET
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