Morning Market News Digest 早市新闻摘要

。Pacific Time 7:21AM : Dow +200, S&P 500 +12, Nasdaq +39, Russell 2000 +9. WTI crude oil ＋0.04%，Gold -0.35%.

。Oversea markets: Shanghai ＋0.05%, Japan-0.14%, Hong Kong +0.01%, Germany+0.24%, UK -0.55%, France +0.45%.

。Finance ministry officials said China will increase its fiscal spending in 2019 to offset last year's turbulence from the US-China trade tensions. Growth last year was the lowest in nearly three decades while fiscal spending rose 9% to 22.1T yuan. China could cut taxes and small firm fees.

。UBS slashes Pfizer’s rating to neutral from buy, citing the so-called “patent cliff” in the coming years that would greatly offset the revenue growth.

。BMO downgrades Merck to market perform from outperform, saying Wall Street’s expectations for the drugmaker are too high given its over-dependence on the drug Keytruda.

。IBM (IBM) gains 4.7% after reporting Q4 results that beat EPS and revenue estimates with revenue down 3.5% Y/Y. FY19 guidance has EPS of at least $13.90 (consensus: $13.81).

。United Technologies (NYSE:UTX): Q4 Non-GAAP EPS of $1.95 beats by $0.40; GAAP EPS of $0.83. Revenue of $18.04B (+15.1% Y/Y) beats by $1.22B.

。Procter & Gamble (NYSE:PG): Q2 Non-GAAP EPS of $1.25 beats by $0.04; GAAP EPS of $1.22 beats by $0.02. Revenue of $17.44B (+0.2% Y/Y) beats by $280M.


。财政部官员表示，中国将在2019年增加财政支出，以抵消去年美中贸易紧张局势的动荡。 去年的增长是近三十年来的最低水平，而财政支出增长9％至22.1T元。 中国可以减税和小公司费用。

。瑞银（UBS）将辉瑞的评级从买入下调至中性，理由是未来几年所谓的“专利悬崖”将极大地抵消收入增长。

。BMO将默克的评级从优于大盘降至市场表现，并表示由于过度依赖药物Keytruda，华尔街对制药商的预期过高。

。IBM（IBM）公布的第四季度盈利及营业额超过预期，但营业额同比下降3.5％。 FY19指引为每股盈利至少为13.90美元（市场预期：13.81美元).

。联合技术公司（UTX）：第四季度非GAAP每股盈利1.95美元，好于预期0.40美元; GAAP每股收益0.83美元。营业额为18.04亿美元（同比增长15.1％）好于预期1.22亿美元。

。宝洁（PG）：第二季度非GAAP每股盈利1.25美元，好于预期0.04美元; GAAP每股盈利1.22美元，好于预期0.02美元。 营业额17.44亿美元（同比增长0.2％）超过2.8亿美元预期。