Eurozone economy nears six year high in February
IHS Markit survey shows euro area output at 56.0 in February, highest since April 2011, with job creation at a nine and a half year peak. France appears to outgrow Germany, boosting hopes for a self sustaining eurozone upturn amid upcoming elections and rising optimism across firms.
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Wal-Mart pushes online growth to rival Amazon
Wal-Mart posted a 29 percent rise in fourth quarter online sales as it expands digital services and leverages its store network. CEO Doug McMillon cited rapid digital expansion while Jet.com ShoeBuy and Moosejaw acquisitions bolster reach. Macy's meanwhile reports declining quarterly earnings amid holiday softness and store closures while Amazon trims free shipping thresholds for non Prime members.
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Hunger for deals drives food stocks to record highs
Wall Street rallied as investors sought bargains after a long weekend. Kraft Heinz and Unilever failed to seal a $143 billion mega merger, yet Mondelez and Smucker led gains in food and household goods stocks amid revived deal activity. Verizon Yahoo deal revised after security breaches, reducing price to 4.48 billion. Wells Fargo fires four senior managers tied to unauthorized accounts scandal.
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