*On the data front, Germany’s Ifo business climate index rose to 98.9 in February from 96.0 in January despite the situation in Ukraine, though the research institute said German businesses already afflicted by supply bottlenecks will see a drag.*
*Which companies were in focus?*
• *Home Depot Inc.* reported fiscal fourth-quarter profit and sales that rose above expectations and announced a 15% increase in its dividend. Shares of the home-improvement retail giant dropped 8.9%.
• Shares of department-store retailer *Macy’s Inc.* fell about 5% after reporting fourth-quarter earnings that beat expectations and announcing a dividend hike.
*In deal news*, Houghton Mifflin Harcourt shares surged about 15.3% after the company said it would be taken private by Veritas Capital in a deal worth $21 a share, representing a nearly 16% premium from Friday’s close. The deal is expected to be completed in the second quarter.
*Here are some events to watch this week:*
New Zealand rate decision Wednesday
BOE Governor Andrew Bailey appears before the Treasury Committee
Wednesday Bank of Korea policy decision Thursday
EIA crude oil inventory report Thursday
Fed officials Loretta Mester and Raphael Bostic speak Thursday
U.S. new home sales, GDP, initial jobless claims Thursday
U.S. consumer income, U.S. durable goods, PCE deflator, University of Michigan consumer sentiment Friday
*Currencies*
The Bloomberg Dollar Spot Index was little changed
The euro rose 0.2% to $1.1328
The British pound fell 0.1% to $1.3588
The Japanese yen fell 0.3% to 115.03 per dollar
*Bonds*
The yield on 10-year Treasuries was little changed at 1.92%
Germany’s 10-year yield advanced four basis points to 0.24%
Britain’s 10-year yield advanced six basis points to 1.47%
*Commodities*
West Texas Intermediate crude rose 1.4% to $92.35 a barrel
By: via @AlliesFin Serve Stock Market
