MORNING COFFEE

China Hikes Interest Rates. Over the weekend China raised their interest rates by 25 basis points.  The one-year lending rate now stands at 5.81% and the one-year deposit rate is 2.75%. This is the second rate hike since October as the government attempts to head off inflation.

Coverage Reiterated/Price Target Changed

Time Warner Cable TWC): Argus reiterated their Buy rating and raised their target price from $70.00 to $75.00.

Google (GOOG): Kaufman Bros reiterated their Buy rating and raised their target price from $650.00 to $690.00.

Earning Reports

Cal-Maine Foods (CLAM): Reported EPS of -$0.63 missing estimates -$0.09.

·         Futures at 7:00: Dow -0.2%. S&P -0.3%. Nasdaq -0.1%. Crude -0.2% to $91.31. Gold +0.2% to $1383.40.

·         Europe: London closed. Paris -1.1%. Frankfurt -1.1%.

·         Asia: Japan +0.8% to 10356. Hong Kong closed. China -1.9% to 2781. India -0.2% to 20029.