Career News 24/7: 10 Things You Need To Know Before The Opening Bell, November 15, 2012

Thursday, November 15, 2012

10 Things You Need To Know Before The Opening Bell, November 15, 2012

View this email online | Add newsletter@businessinsider.com to your address book

Thursday, November 15, 2012

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

Asian markets were mixed in overnight trading, with the Nikkei up 1.9 percent and the Shanghai Composite down 1.2 percent. Europe is in the red across the board with the exception of Spain, up 0.45 percent. In the United States, Dow and S&P 500 futures are flat.
China completed its once-in-a-decade leadership transition by unveiling the members of the Politburo Standing Committee – the seven most powerful men in China. Xi Jinping will serve as the country's paramount leader, as was widely expected. Everything You Need To Know About China's New Leader, Xi Jinping >
A rocket attack emanating from the Gaza Strip that killed three Israelis today will likely provoke harsh retaliation. Yesterday, Israel killed the top Hamas military leader in an air strike, and oil surged when the IDF decided to later conduct additional strikes.
German GDP rose 0.2 percent in the third quarter, ahead of expectations of a 0.1 percent rise, bolstered by gains in exports and consumption. French GDP also rose 0.2 percent in Q3, beating expectations of a flat reading, on a boost in household spending that economists warn is unsustainable.
In Spain, GDP contracted 0.3 percent in Q3, right in line with expectations. Italian GDP contracted 0.2 percent in Q3, better than the 0.5 percent decline that was estimated.
UK retail sales fell in October, down 0.8 percent versus expectations of a 0.1 percent decline. The contraction in retail sales marks the fastest rate of decline since April.
Wal-Mart reported earnings of $1.08 per share, slightly better than the $1.07 estimate, but sales came in at $113.9 billion, below the estimated $114.9 billion. Wal-Mart raised its forward earnings guidance, but not enough to match analysts' expectations.
The FHA is expected to report that it needs a bailout sometime this week, according to a WSJ report. The agency, which guarantees fewer mortgages than Fannie Mae and Freddie Mac, is said to have more delinquent mortgages than both. 12 American Cities Where Homeowners Are Drowning In Their Mortgages >
In the United States, the consumer price index and weekly jobless claims figures are out at 8:30 AM ET. Economists project CPI to rise 2.1 percent year-over-year, while claims are expected to rise to 375K this week from 355K last week.
Also out at 8:30 AM ET is the Empire Manufacturing report, followed by the Philadelphia Fed manufacturing survey at 10 AM. The two indices will provide some insight into the state of American manufacturing this month. Follow the releases LIVE on Money Game >
BONUS: Rihanna revealed her perfect date night in an interview.