10 Things You Need To Know Before The Opening Bell

Mamta Badkar

 

Jessica Alba at the Met Costume Institute Ball

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

• Asian markets mostly lower in overnight trading with the Shanghai Composite down 0.12 percent. Europe is sharply lower over uncertainty in Greece, and U.S. futures are in the red.

• Coalition talks have resumed in Greece after weekend elections saw voters flock to anti-bailout and anti-austerity parties. Antonis Samaras, leader of the conservative New Democracy party said yesterday that he failed to form a new government. 

• German industrial production surged 2.8 percent in March, from February when it declined 0.3 percent. This beat expectations of a 0.8 percent gain, and adds to signs that the country could have avoided a recession.

• Spain is reportedly planning a tax-payer bailout of Bankia, the nation's third largest bank by assets. The bank could get as much as €7 billion - €10 billion of additional capital. This comes after the government had insisted that its banks would not need additional state money to clean up its banks.

• In earnings news, Walt Disney is expected to report earnings of $0.56 per share, and Demand is expected to announce earnings of $0.05 per share. 

• Europe's biggest bank HSBC reported reported Q1 operating revenue of $20.44 billion, while net profit fell to $2.58 billion, from $4.15 billion a year ago. Profits were boosted by HSBC's investment banking division.

• In M&A news, America Movil, controlled by Mexican billionaire Carlos Slim, is looking to buy a $4.2 billion stake in Dutch telecoms firm KPN. America Movil is the biggest mobile operator in Latin America and this acquisition could mark a broader expansion into Europe.

• A UK house-price index fell to -19 in April, from -11 the previous month hitting a six-month low. The report by London-based RICS shows that demand dropped after a stamp-duty exemption expired. A reading below zero shows that more surveyors saw price drops than gains.

• South Korean PPI rose 2.4 percent year-over-year, and eased 0.1 percent from the previous month. Prices cooled as the costs of meat and fish declined. 

• A month after he suspended his campaign, Rick Santorum finally endorsed Republican presidential hopeful Mitt Romney last night.