10 Things You Need To Know This Morning

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Good morning. Here's what you need to know.

  • Asian markets were mixed in overnight trading with the Nikkei rising 2.82 percent and hitting a 22-month high on its first day of trading in the new year. Europe is selling off and U.S. futures are flat following yesterday's Fed minutes that showed that many members supported ending QE3 at the end of 2013.
  • German retail sales increased 1.2 percent month-over-month in November, beating expectations of a 0.8 percent gain. Increased spending bolstered sales as unemployment hit a near-two year low.
  • The U.S. State Department does not want Google executive chairman Eric Schmidt and former diplomat Bill Richardson to visit North Korea. This comes after North Korea's rocket launch last month.
  • Factory orders for November and the ISM non-manufacturing index for December are out at 10 a.m. ET. Consensus is for factory orders to rise 0.3 percent month-over-month and for the composite index level to ease to 54.5. Follow the release at Money Game >
  • UK services PMI fell to 48.9 in December, from 50.2 the previous month. This missed economists expectations of 50.5. "The first fall in service sector activity for two years raises the likelihood that the UK economy is sliding back into recession," wrote Markit's Chris Williamson.

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