10 Things You Need To Know Before The Opening Bell

Business Insider

Good morning. Here's what you need to know.

  • The yen strengthened last night after Japan's economy minister Akari Amari warned that import prices would surge on excessive yen weakness. Societe Generale's Kit Juckes wrote, "official comments on policy and the currency have been one-way traffic – weakening the yen – since the elections last month. I suspect that thee is near-unanimity in the market that the yen has fallen too far, too fast, but also enthusiasm to sell into corrections such as this."
  • Homebuilder Lennar Corp. beat expectations when it reported Q4 net income of $124.3 million or $0.56 per share, against estimates for $0.45 per share. Revenue increased 42 percent to $1.35 billion.
  • The German economy contracted 0.5 percent in the fourth quarter, according to a preliminary estimate by the Federal Statistics Office. Growth is said to have slowed to 0.7 percent in 2012, from 3 percent in 2011. 
  • PPI and retail sales for December are out at 8:30 a.m. ET. Consensus is for PPI to decline 0.1 percent month-over-month (MoM) and for retail sales to rise 0.2 percent MoM. Follow the release at Money Game >
  • Facebook shares are up in pre-market trading ahead of its mysterious event at its Menlo Park, California headquarters at 10 a.m. PT.
  • The Empire State manufacturing survey for January is out at 8:30 a.m. ET, followed by business inventories for November at 10 a.m. ET. Consensus is for the general business conditions index to rise to 0 and for inventories to rise 0.3 percent MoM. Follow the release at Money Game >
  • UK consumer prices were up 2.7 percent year-over-year in December, the same rate as the October and November. Rising electricity and gas prices kept inflation above the Bank of England's 2 percent target.

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