TOP STORIES
FED FINDS 31 BANKS ADEQUATELY CAPITALIZED
The largest U.S. banks are strong enough to keep lending during
a severe recession, the Federal Reserve said, a sign that many
banks will soon get permission to return profits to investors by
raising dividends or buying back shares.
ECB RAISES ITS ECONOMIC FORECASTS FOR EUROZONE
The European Central Bank significantly raised its economic
forecasts for this year and next in a sign of confidence that
Europe--one of the global economy's trouble spots in recent
years--is gaining strength even before the bank launches stimulus
package.
U.S. STOCKS RISE WITH FOCUS ON BANKS, JOBS
U.S. stocks post modest gains, breaking a 2-day slide, as the
market digests a QE update from ECB's Draghi and prepares for the
monthly payrolls data tomorrow. The Dow Jones Industrial Average
gained 38 points to 18135.
JOBLESS CLAIMS RISE TO HIGHEST LEVEL SINCE MAY
The number of Americans seeking first-time unemployment benefits
rose last week to the highest level since May, but harsh winter
weather may be to blame for the recent spike.
GAP POSTS SURPRISE FEBRUARY SALES DECLINE
Gap posted a surprise drop in February same-store sales as its
Gap Global and Banana Republic divisions both reported declines.
Sales declined 4% while analysts surveyed by Thomson Reuters had
projected a 1.4% increase.
DELTA AIR LINES JET SKIDS OFF RUNWAY AT LA GUARDIA
A Delta Air Lines jet skidded off a runway and struck a fence
shortly after it landed in New York's La Guardia Airport, leading
authorities to shut down the airport and ground hundreds of
flights.
COSTCO PROFIT BEATS FORECASTS
Costco Wholesale reported a better-than-expected 29% rise in
earnings, to $598 million, or $1.35 a share, in the February
quarter, boosted by a tax benefit and lower fuel prices. Shares up
2%.
ABBVIE TO BUY PHARMACYCLICS IN $21 BILLION DEAL
AbbVie said it will buy cancer biotech Pharmacyclics in a $21
billion deal that returns the drug company to deal-making after
backing away from a big tax-lowering takeover last year.
CBRE TO BUY JOHNSON CONTROLS UNIT
CBRE Group, the world's largest commercial real-estate services
company, is said to be negotiating to buy the division of Johnson
Controls Inc. that manages 1.8 billion square feet of corporate
real estate globally.
CHINA ON LONG, SLOW ROAD TO REFORM
A new Chinese policy plan that promotes a shift to an economy
driven by consumers and entrepreneurial vigor also recognizes that
the transition from state spending and smokestack industries is
years away.
CAMERON WARNS WEST PREPARED TO INCREASE RUSSIAN SANCTIONS
British Prime Minister David Cameron said the West needs a
tough, long-term response to Russia over tensions in Ukraine,
warning that he and other leaders were prepared to take sanctions
"to a whole different level" if Moscow ramps up its aggression.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Heard on the Street
ECB DIGS IN FOR A LONG QE HAUL
The European Central Bank on Monday will start buying government
bonds as part of a $66.49 billion-a-month asset-purchase program.
And quantitative easing will be with investors for a good while
yet, writes Richard Barley.
WSJ Blog
5 THINGS TO WATCH IN THE FEBRUARY JOBS REPORT
February's jobs report will be a test for whether the labor
market can continue its impressive growth streak even in the face
of global turmoil and icy conditions in parts of the country.