Good morning. US stock futures rose in Wednesday morning trading as investors mull over signs that the US economy is slowing down and an underwhelming earnings season.

"Know what you own and know why you own it"

Peter Lynch

Top News

Downturn in US business activity shows signs of easing  

•  The downturn in US business activity eased slightly in January even as it contracted for the seventh straight month, as the world's largest economy hopes to avert a recession this year.

• S&P Global reported that its flash U.S Composite PMI Output Index, which tracks the manufacturing and services sector, increased to 46.6 in January from 45 in December, the first time the index has moderated since September.

Market glitch

• The New York Stock Exchange is investigating the cause sudden and extreme changes in stock prices and trading interruptions that occurred when the stock market opened on Tuesday .

• At least 40 S&P500 stocks were hit with trading halts according to data compiled by Bloomberg.

Google ad business under scrutiny 

• The US Justice Department along with eight states filed its second antitrust lawsuit against Google in just over two years, this time targeting its ad business.

• Google has long denied it dominates the online advertising market, pointing to the market share of competitors include Meta's Facebook.

In Other News

EU pushing hard on 5G rollout 

•  According to documents reviewed by Reuters, the European Commission is looking to reduce regulations and expenses to assist major telecom companies in implementing 5G networks quickly across the territory.

• The Commission noted that the implementation of such measures could save telecom operators about 40 million euros in annual administrative costs.

Paying up! 

• Walmart has announced plans to hike its minimum hourly pay for US workers to more than $17.50

• Under its Live Better U (LBU) education program, Walmart is also adding new college degrees and certificates available for both full and part time associates.

Tesla to set up truck factory in Nevada

• Nevada Governor Joe Lombardo said that Tesla would soon be building another production facility in the state to produce its new Semi electric truck.

• "I am looking forward to joining Elon Musk and the team at Tesla when they unveil plans to build a new $3.5 billion advanced facility in northern Nevada." Lombardo said in his "State of the State" address.

Key Economic Events

• Wednesday - No Major Economic Events

• Thursday - US GDP Annualized Q-o-Q

• Friday - U. Of. Mich. Sentiment

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