- French President Francois Hollande and German Chancellor Angela Merkel went to Moscow to talk to Russian President Vladimir Putin about the conflict in Ukraine. The meeting follows a worsening of the violence.
- Verizon (VZ) will sell wireline assets to Frontier Communications (FTR) for $10.54 billion in cash and sell and lease cell phone towers for around $5 billion to American Tower in a deal that will help it pay off recent wireless spectrum purchases.
- RadioShack filed for bankruptcy on Thursday, and Sprint (S) will operate 1750 of the company's 2400 stores. The bankruptcy had been expected for months, after 11 consecutive unprofitable quarters from RadioShack.
- The Swiss National Bank (SNB) still intervenes in foreign exchange markets to keep the Swiss franc from appreciating too much vs. the euro, judging by data on its forex reserves that show they hit a new record high in January. The SNB held 498.398 billion francs ($541.5 billion) in foreign currency at the end of January.
- German industrial output rose only 0.1% on the month in December, lower than a 0.3% rise forecast by analysts in a poll by The Wall Street Journal last week. Broken down by category, manufacturing output was up 0.5%, while construction output declined 2.9%.
More from Currencies
Any day can be a down day but here's why I still think the market has an upward bias until early January.
The last two years has seen an 'everything bubble.'
Let's review the charts and indicators.
Yes, volatility beckons. I hear it too. There may be a revaluation of equities across the board in 2022.