(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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