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Here is what you need to know. The Bank of Japan raises its growth forecast. Japan's central bank kept policy on hold with a 7-to-2 vote but raised its 2017 real gross-domestic-product growth forecast to 1.5%, up from its previous forecast of 1.3% offered last November. The Japanese yen is little changed at 113.83 per dollar. German unemployment is at its lowest level since the reunification. Germany's unemployment rate slipped to 5.9% in January, its lowest level since 1990, Bloomberg says. The euro is higher by 0.1% at 1.0708 against the dollar. Gold is flirting with $1,200. The precious metal trades up by 0.2% at $1,198 an ounce. Warren Buffett has been loading up on stocks since the election. Bloomberg reports that, in an interview with Charlie Rose, legendary investor Warren Buffett announced, "We've, net, bought $12 billion of common stocks since the election." Buffett did not give any specifics as to which stocks he was buying and selling. Deutsche Bank doesn't know whether it will need to raise more capital. "There is still some uncertainty. Only when this is gone will we know exactly what our capital resources look like for the long term," Deutsche Bank management board member Christian Sewing was quoted as saying in the German daily newspaper Handelsblatt. Insulin makers are being accused of price fixing. Lilly, Novo Nordisk, and Sanofi are accused of taking part in an "organized scheme to drive up prices at the expense of patients who need insulin drugs to live," according to a complaint filed in the US District Court of Massachusetts. "Pokémon Go" boosts Nintendo. The video game maker reported a quarterly net profit of 34.2 billion yen ($301 million), up 17.5% from a year ago, as the smartphone game "Pokémon Go" provided a boost. Sales, however, tumbled 21.3% versus last year. Stock markets around the world trade mixed. Japan's Nikkei (-1.7%) paced the decline in Asia, and France's CAC (+0.4%) leads the advance in Europe. The S&P 500 is set to open higher by 0.2% near 2,279. Earnings reporting is heavy. Aetna, Coach, Exxon Mobil, Harley-Davidson, Under Armour, and United Parcel Service are among the names reporting ahead of the opening bell. Apple will release its quarterly results after markets close. US economic data is moderate. Case-Shiller home prices will be released at 9 a.m. ET before Chicago PMI and consumer confidence cross the wires at 9:45 a.m. ET and 10 a.m. ET. The US 10-year yield is unchanged at 2.49%. |
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