** MORNING WRAP **

** US MARKETS **
Dow 0,21%; Nasdaq 0,16%; S&P 0,22%; Soxx 0,61%; Russel2k 0,14%; DJAIG -0,56%;
10yr Bond -0,03%; 10yr Yield 4,66%; Crude future 55,59; Gold 612,55

| Industrials 0,45%| Financials 0,39%| ConsStaples 0,28%| Technology 0,24%|
ConsDisc 0,2%| Healthcare 0,17%| Materials 0,1%| Energy -0,03%| Utilities
-0,23%| Telecom -0,28%

– Hedge Fund Borrowing, Margins Examined By SEC, Fed, European Authorities – GE May Sell Its Plastics Unit, Seeks as Much as $10 Billion, People Say – Gap to Study Strategic Alternatives, Hires Goldman, People Familiar Say – Apple’s Jobs, Extending Beyond Music, May Unveil New IPod Phone Today – Crude Oil Falls Below $56 a Barrel on Skepticism OPEC to Comply With Cuts

** ASIAN MARKETS **
Nikkei 0,86%; Kospi 0,26%; HSI -0,64%; Taiwan 0,69%; China 3,34%; India 0,29%;
Thailand -0,98%; Australia 1,45%

– Asian Stocks Rebound, Led by Samsung Electronics, BHP Billiton; Sony Jumps – Alinta’s Management Makes Buyout Offer, Says Macquarie May Take a Stake – China Life Passes ING, Allianz in Value as Shares Surge in Shanghai Debut – Sony Shares Rise on Meeting PlayStation 3 Shipment Target, Goldman Upgrade – S&P Says Increasing Chance for Cut in Thai Debt Outlook as Investors Sell – Australia’s Retail Sales Growth Slows in December on Higher Interest Rates – Philippines to Sell Up to $1 Billion in Overseas Debt, Treasurer Cruz Says – Toyota, Honda Predict They Will Add to Record Market Share in U.S. in 2007 – Japanese Bonds May Fall a Fifth Year as Central Bank Raises Interest Rates

** EUROPE: IN PLAY TODAY **

– Air France-KLM & Air Berlin will release passenger numbers for December. – Credit Agricole SA and Societe Generale SA: France’s second- and third-largest banks are in exclusive talks to merge their futures and options brokerage
businesses. – BP Plc, Europe’s second-largest oil company by market value, said production
fell for a sixth quarter on platform start-up delays in the Gulf of Mexico and
reduced oil flow at its Prudhoe Bay field in Alaska. Fourth-quarter output fell
5.02 percent to 3.82 million barrels a day of oil and gas from 4.022 million in
the year-earlier period, London-based BP said today in a Regulatory News
Service statement. Year-on-year output last rose in the second quarter of 2005. – Marks & Spencer Group Plc, the U.K.’s largest clothing retailer, said sales
increased for a sixth consecutive quarter as a holiday advertising campaign drew
more customers to its restyled fashions and luxury food. Revenue at stores open
at least a year gained 5.6 percent in the fiscal third quarter ended Dec. 30,
the London-based retailer said today in a Regulatory News Service statement. The
median estimate of nine analysts was for an increase of 5.8 percent.