Market Recap
DJIA -1.51%, Nasdaq -0.08% and S&P -0.75%
Nikkei -1.11%
WTI Crude Oil USD 40.30
USD/EUR 1.2835
U.S. stocks finished the day lower after spending the bulk of the morning in positive territory following another round of better-than-expected economic data.
Bank of England may cut rates today from 1.5% to 1%.
U.S. News
Ford said is in preliminary talks to sell its Volvo Car unit to Geely Automobile (China)
Kraft reported in line numbers but disappointed by lowering its outlook.
MetLife reported positive Q4 earnings
VISA reported a profit increase of 35% as more consumers outside the U.S. used credit and debit cards.
Cisco reported bad Q4 numbers. Sales fall as much as 20% this quarter.
Procter & Gamble may sell its pharmaceuticals brands.
European News
Swiss Re sees FY08 missed by 55% with a net loss CHF 1bn, co raises CHF 3bn from Berkshire and may raise a further CHF 2bn through a rights issue.
Deutsche Bank reported weak Q4 numbers with a loss of EUR 6.2bn. The bank already pre-announced 2 weeks ago.
Zurich Financial reports numbers below consensus and cuts its dividend to CHF 11 from CHF 15
Unilever reports disappointing Q4 numbers. Volumes and margins are under pressure
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