Market Flash:Market Down

Breakfast Bites: Sounding a bit like a broken record, the markets are trading lower as we continue to monitor what isn’t going on in Europe as Greece continues to hold talks in an effort to secure rescue funds. They are purportedly working on a final draft.

  • Federal Reserve Chairman Ben Bernanke is testifying on Capitol Hill before the Senate Budget Committee
  • U.S. February IBD/TIPP Economic Optimism rises to 49.4 vs. prior 47.5
  • JOLT Job Openings increase to 3376 from prior 3118
  • German industrial output plunged 2.9% in December vs. expectations for no change, with the fall coming despite factory orders rising 1.7%. It's the biggest drop in three years and brought output for all of 2011 to +0.9%.
  • Xstrata has formally announced that it has agreed to merge with Glencore in an all-share deal that will create a company worth $90B.
  • Coca-Cola reports Q4 operating EPS 79c vs. consensus 77c. Reports Q4 revenue $11.04B vs. consensus $10.99B