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Bad News
1. Financials Weigh on Asia, Japan Slides 3%, as Citi dives 24%. Major Japan banks reported bidding for Citi unit
2. Tech shares also slid in the wake of worse-than-expected results from IBM. IBM reported a sharper-than-expected 11 percent fall in quarterly revenue
3. Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said traders are skeptical about bank earnings and believe the better-than-expected profit reports may be disguising problems.
4. Growing Credit Worries May Snuff Out Stock Market Rally (From CNBC)
5. BofA CEO Says 'Credit Is Bad' And Is 'Going to Get Worse'
6. Heavyweights HSBC and China Mobile drag Hong Kong shares
Good News:
1. Texas Instruments Posts Better Than Expected Results
2. Morgan Stanley mulling buy of U.S. regional banks
3. GM layoffs reported coming over next few days |
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