Markets react to the Fed, Abe loses minister of economy and extravagance profits. Here are some of the things that people talk in the markets today.
1. Fed reaction
Emerging markets rose following the statement from the Fed yesterday acknowledged that global risks, reassure investors that the pace of rate increases could be slow. The Stoxx Europe 0 was 0.5 percent lower at 10.55 in London following worse than expected company earnings and a report from the European Commission showing the direction and consumer confidence fell to 105, the lowest in five months. Italian banks are also getting slammed again. US stock futures were higher, led by the Nasdaq 100 after the earnings stellar Facebook, but gave up most of their gains. Facebook itself is still set for significant gains.
2. Japanese economy minister resigns
The Japanese Economy Minister Akira Amari resigned this morning, following accusations that he received money in exchange for favors. Amari, who led the strategy of Prime Minister Shinzo Abe to boost the nation's competitiveness (known as "abenomics") is the most influential minister to resign since Abe took office in 2012. The Prime Minister announced the appointment of Nobuteru Ishihara, a former rival for the presidency of his party, as the new minister of the nation's economy.
3. Results
results season continues unabated today with Caterpillar Inc., Ford Motor Co. and Amazon.com Inc. among those are due to report. Alibaba Group Holdings Ltd is also due today, with investors looking for any insight into the health of the Chinese economy. Meanwhile in the US, we get on jobless claims at 8:30 ET. Economists are looking for an improvement of 293K to 281K.
4. UK GDP
The UK economy rose for the twelfth consecutive quarter, the gross domestic product rose 0.5 percent in the fourth quarter, in line with expectations. The economic growth has been driven by a pick-up in services, which account for about 79 percent of gross domestic product. Sterling advanced after the release.
5. Not guilty
In a setback to the Serious Fraud Office of the UK's sixth former broker charged in connection with the Libor rigging scandal was acquitted this morning . This follows the acquittal of five other brokers charged yesterday. Tom Hayes, who had his sentence reduced to 11 years in December, is the only person convicted in relation to the scandal.
Bloomberg
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