The Morning Morsel-China Raises Reserve Requirement
China just raised their reserve requirement for the second time in a month and announced that they will be spending less now on infrastructure and will focus more on health care and education.
The dollar rose on the news, so commodities should be in “give back” mode this morning. Gold and oil are lower. The Euro also declined to around 1.355.
Retail sales for January will be released today at 8:30.
Rome was blanketed with the heaviest snowstorm in 25 years and the Colosseum was closed.
Have a great day.
Friday, February 12, 2010
Economic
09:55 Feb prelim Univ of Michigan confidence (last 74.4)
14:00 Argentina Jan CPI, Wholesale Price Index
Events
Trades Ex-dividend: CVX $0.68, MRO $0.24, SLB $0.21.
Earnings
Before the Open: ALE, HCP, IR, PAS, UPL. After the Close: DUK.