Yikes. Not exactly the recipe for a happy new year.
The latest bond auction in Italy saw mixed results as the country
reportedly sold around ¿7 billion worth of bonds, not quite hitting the top of a ¿5 billion to ¿8.5 billion target
, according to
The Wall Street Journal
yields did decline
, narrowing the spread between
10-year Italian debt and the equivalent German bonds.
As for the rest of Thursday, the economic calendar features the usual weekly initial and continuing jobless claims at 8:30 a.m. ET with the consensus at 368,000, showing some faith in the recent decline to levels unseen in more than three years.
The market also gets Chicago PMI for December at 9:45 a.m. ET, pending home sales for November at 10 a.m. ET, and weekly crude inventories data at 11 a.m. ET.
In corporate news, there are no earnings reports of note.
(YHOO - Get Report)
could see some active trading though following reports that China's
hired a U.S. lobbyist firm in preparation for making a bid for all of Yahoo!
if a deal to buy back some of its assets from the company doesn't work out.
Other companies in the spotlight on Thursday include
(CHK - Get Report)
, which has agreed to sell its natural gas pipeline system in the Marcellus Shale to an affiliate to $865 million;
, which agreed late Wednesday to acquire privately held Enobia Pharma for $1.08 billion;
(EXAR - Get Report)
, which lowered its fiscal third-quarter revenue outlook because of weak economic conditions in Europe and Asia and inventory corrections; and
Leggett & Platt
(LEG - Get Report)
, which said it expects to record a charge of $36 million in its fiscal fourth quarter, mainly related to restructuring activities.
Written by Michael Baron in New York.
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