10 Things You Need To Know Before The Opening Bell, August 16, 2011

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		Tech Media Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Tuesday, August 16, 2011 Advertisement Good morning. Here's what you need to know. Asian indices were mostly down in overnight trading with the Shanghai Composite down 0.71%. Europe is sharply lower, and U.S. futures indicate a negative open. German GDP growth fell to 0.1% in the last quarter, below the 0.5% expected by analysts, and a significant decline from 1.3% GDP growth in the first quarter. This came as a huge blow because Germany is seen as the euro zone's economic driver. Meanwhile GDP growth across the euro zone rose only 0.2%, causing the rally in European markets to fade. Now here are 7 worrisome charts on Europe > German Chancellor Angela Merkel and French President Nicolas Sarkozy are meeting in Paris today to discuss the crisis and will hold a press conference after. The leaders are expected to talk about rules for profligate spenders and proposals that move towards the direction of euro bonds, or joint borrowing, which the 13 states have thus far rejected. Don't Miss: Everything you wanted to know about Euro bonds but were afraid to ask > In earnings news, Home Depot reported Q2 net income of $1.36 billion or $0.86 per share, on revenue of $20.2 billion. The company attributed better than expected earnings to sales in lawn and garden products as consumers looked to make storm-related repairs. It raised its full-year earnings guidance to $2.34 per share. Meanwhile, Wal-Mart Stores Inc. has posted better than expected Q2 earnings of $1.09 per share, on sales of $108.6 billion. The retailer also raised its third quarter guidance but said its U.S. same-store sales for the quarter stayed flat. Don't Miss: 16 facts about Wal-Mart that will blow your mind > Housing starts and import prices for July will be released at 8:30 AM ET. Housing starts are expected to fall to an annualized pace of 600K units and import prices are expected to fall 0.1%, from last month. Follow the release at Money Game > UK consumer price inflation (CPI) rose to 4.4% in July, up from 4.2% the previous month. The Bank of England said inflation could run as high as 5% this year, but has kept its interest rate low in the wake of slowing economic recovery. Check out 10 hyperinflation horror stories of the 20th century > Dutch insurer Aegon NV has agreed to sell its U.K.-based Guardian Life unit to European firm Cinven $451 million. Aegon which received aid from the The Netherlands during the credit crisis, is selling off its units to pay back the state. Industrial production data for July will be released at 9:15 AM ET. Expectations are for a 0.5% month-over-month change in production. Follow the release at Money Game > President Obama, who has been criticized for doing little for the economy, is expected to announce measures to boost rural jobs today. The President is on a three day Mid-West bus tour and is expected to make stops in Minnesota, Iowa and Illinois. BONUS - Halle Berry was seen celebrating her birthday in Malibu yesterday. Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.wyldside@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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