Today's Key News - Feb 26

Good Morning. As a key U.N. Security Council meeting kicks off in London today, Iran remains on the minds of investors. Still, the S&P 500 and the Dow Jones Industrials have turned upward in early morning trading, while the NASDAQ remains in the red.

Asia:

Hang Seng Index -0.98%; Shanghai/Shenzhen 300 +1.16%; NIKKEI 225 +0.15%; BSE SENSEX 30 +0.12%; KRX 100 +0.06%: Taiwan TAIEX Index +1.16%

U.K. & Europe:

DJ STOXX 50 Index +0.4%; FTSE 100 +0.56%; CAC 40 +0.74%; DAX +0.58%; Russian RTS Index +1.77%

Americas & Middle East:

Tel Aviv 25 +0.17%; DFM General -0.67%; Tadawul All Share -0.35%; Mexico Bolsa +0.39%; Argentina Merval +0.79; Brazil Bovespa +0.27%; Venezuela Stock Market Index +0.01%

KEY HEADLINE NEWS

• World powers are meeting today in London to discuss a new set of harsher sanctions against Iran, after it failed to comply with the United Nation's demands to halt its heavy water activity and uranium enrichment. We authored a special report on the subject this morning, "Geopolitical Factor - Israel Will Do the Bombing".
• Petroleum prices are strengthening as the Iranian issue intensifies.
• Former Fed Chief Alan Greenspan stated today that a recession was a possibility for the economy in 2007.
• The National Association for Business Economics reported their expectations today that economic growth will slow to 2.7% in 2007, its most sluggish pace since 2002.
• Expressing concern that al Qaeda may be regrouping, Vice President Cheney landed in Pakistan today to urge the government to increase its efforts against the terrorist group.
• Preparations may be underway for an Israel's air attack of Iran, as a report states three Gulf states may have already agreed to the use of their airspace.
• Catch this week's issue of "The Greek's Week Ahead," your market-moving event planner for the week.

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Check back in later this morning, as "Today's Morning Coffee" will outline in greater detail the day's activity in overseas and commodity markets, and provide economic data & analysis and stock specific news. (disclosure)