U.S. index futures showed early vigor after better than expected holiday sales. Asian stocks traded mixed on concerns of further Chinese monetary tightening policies and European markets gained. China indexes fell more than 3.6% in a two-day sell-off.
Japan''s industrial production rose 1% in November, following the 2.0% plunge in October, according to data from the Ministry of Economy, Trade and Industry released today. However, consumer price index declined for the 28th month in a row in November.
Core consumer prices in Japan declined 0.5% in November, following the 0.6% contraction in October, the Ministry of Internal Affairs and Communications said on Tuesday in a preliminary report.
U.S. Holiday Retail Sales Rise
Apparel and jewelry sales drove the holiday purchases and higher discounts attracted more shoppers online.
MasterCard Advisors'' SpendingPulse report found retail sales excluding-auto rose 5.5% annually in the 50-day period between November 5 and December 24. Sales last year rose 4.1% and sales in the similar period in 2008 fell 6.1%.
The latest rise was driven by 15.4% gain in online sales and 11.2% surge on sales of apparels. Electronics sales rose only 1.2%.
HP Wins NASA Contract
Hewlett-Packard is to provide NASA with up to $2.5 billion in information-technology products and services over four to ten years.
Under the terms of this contract, HP Enterprise Services will secure and maintain the essential IT services which the NASA personnel use to support the agency''s core business, scientific, research and computational activities.
GE Forms JV with Russian Companies
General Electric Company signed a framework agreement with two Russian companies to form joint ventures in Russia in the field of healthcare and power generation. Financial details of the transactions were not disclosed.
Under the framework agreement, GE plans to form a joint venture in the power generation sector with Russian Technologies State Corporation and electric utility OAO Inter Rao UES JSC to make, assemble, sell and service energy efficient, heavy-duty gas-fired power generation turbines in Russia.
GE and Russian Technologies plan to form a joint venture to make and sell high-tech medical diagnostic equipment in Russia.
Magnum Hunter Acquires Appalachian Assets
Magnum Hunter Resources Corporation entered into an agreement to acquire Appalachian Basin focused NGAS Resources, Inc. for approximately $98 million in common stock and assumed liabilities.
Magnum Hunter agreed to acquire NGAS for $0.55 per share with a fixed exchange ratio of 0.0846 based on an agreed Magnum Hunter stock price of $6.50 per share
Ally Financial Resolves Fannie Mae Repurchase Claims
Ally Financial Inc., the auto and home lender, formerly known as GMAC, said on Monday that its mortgage unit, Residential Capital LLC reached a $462 million settlement to resolve repurchase claims by Fannie Mae on $292 billion in home loans.
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