Tuesday, February 12, 2013

Economic Journal - Tuesday, 2/12/2013

(As of 7:20 am PST)
 
Stocks are modestly higher this morning after see-sawing in the first few minutes of trading.  With a lack of economic data due out today, investors are lacking direction and a bit of complacency seems to be setting in.  European stocks are higher gaining on an optimistic trading session on Japan’s Nikkei.   Stocks surged after comments made by Japan’s economic minister pointed to more government action to revive the economy.  In other global news, G-7 officials announced in a meeting that they don’t plan to target exchange rate policies.  This came ahead of the G-20 meeting scheduled for Friday where a broader conversation will likely take place on a potential global currency war.  US corporate earnings continue to trickle in this week with Coca-Cola reporting an earnings increase of 13%, just shy of analysts estimates.  Tonight, President Obama will address the nation in his annual State of the Union address.  There will be a laundry list of topics ranging from gun control issues to immigration, but investors will be looking for direction regarding congressional budget negotiations and the sequester set to hit March 1.

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