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Wall Street shows signs of steadying after slide

IN THE NEWS TODAY

U.S. stock futures were stronger this morning, after Wall Street seesawed Monday and closed modestly higher. But the Dow and Nasdaq remained in a correction, with the S&P 500 just above a correction ahead of Tuesday trading. (CNBC)

Already weak oil prices extended their declines early Tuesday, but then steadied. U.S. crude lost nearly 5.3 percent Monday, settling at 12-year lows. (CNBC)

Nigeria's oil minister said a couple OPEC members have requested an emergency meeting, adding current market conditions create the need to hold such a gathering. (Reuters)

Half of U.S. shale oil producers could go bankrupt before the crude market eventually reaches equilibrium of $60 per barrel, Oppenheimer analyst at Fadel Gheit told CNBC.

United Continental (UAL) said its fourth quarter passenger revenue may fall more than expected, following the November terrorist attacks in Paris and sharply lower oil prices. (Reuters)

Markets in Asia closed mostly lower overnight, with the exception of China, as investor sentiment in the region remained fragile on the back of lower oil prices and China concerns. (CNBC)

Starbucks (SBUX) is planning to open 500 new stores in China this year, shrugging off a slowdown in the world's second-largest economy that has hit global retailers. (Reuters)

An explosion in a popular Istanbul tourist district killed at least 10 people and wounded 15 others today, with that country's president claiming a Syrian suicide bomber was responsible. (Reuters)

Activist investor Carl Icahn has denied media reports that he was building a large stake in Time Warner (TWX). Icahn told CNBC, "It annoys me that certain speculators use my name to make profits."

A report raising questions about a junk bond fund run by Avenue Capital is "misleading," Avenue's billionaire founder Marc Lasry told CNBC, adding it was "based on dated information."

President Barack Obama delivers his final State of the Union address tonight. He plans to take a rhetorical step back, while giving voice to themes that Democrats can embrace in their campaigns. (AP)

Democratic presidential candidate Hillary Clinton has proposed a new 4 percent tax on the wealthiest Americans as part of her plan to finance new domestic spending initiatives. (CNBC)

Donald Trump and Clinton remain national front-runners for their party's nominations less than three weeks before the Iowa caucus, according to a new NBC News|SurveyMonkey Weekly Election Tracking Poll.

Just seven candidates take the main stage for the next GOP presidential debate Thursday evening, the fewest yet. Rand Paul and Carly Fiorina did not make the cut. (NPR)

Dalian Wanda Group, run by China's richest man, has bought U.S. film studio Legendary Entertainment for about $3.5 billion. In 2012, it purchased theater giant AMC Entertainment (AMC). (Reuters)

Media mogul Rupert Murdoch has announced his engagement to actress and former model Jerry Hall, who had previously been in a long-term relationship with Rolling Stones frontman Mick Jagger. (CNBC)

BY THE NUMBERS

The only government economic report for today comes out at 10 a.m. ET. That's when the Labor Department releases its November Job Opportunity and Labor Turnover Survey, better known as JOLTS.

There are no major earnings this morning. Railroad CSX (CSX) is one of the few companies scheduled after the closing bell. Eleven S&P 500-listed companies and two Dow components are due to report by the end of Friday.

Thomson Reuters predicts S&P 500 profits will contract 4.4 percent for the final three months of 2015, marking the second straight quarter of negative earnings growth.

Alcoa (AA) reported adjusted quarterly profit of 4 cents per share, 2 cents above estimates, though revenue was very slightly below forecasts on sliding aluminum prices. Though Alcoa did project record aluminum demand for 2016.

SAP (SAP) released better than expected results for 2015, as it saw strong levels of license renewals and adoption of cloud-based software. However, the business software provider did give a cautious outlook for the current year.

Lululemon (LULU) raised its guidance for its most recent quarter, following stronger than expected holiday season sales. The maker of yoga wear had been cautious about the quarter's outlook a month ago, pointing to slower store traffic in October and November.

STOCKS TO WATCH

AT&T (T) plans to bring back unlimited data plans, allowing customers to pay $100 a month for unlimited data, talk, and text on a single smartphone when bundled with TV service.

Amazon (AMZN) plans to release a new, smaller version of its voice-controlled Echo digital assistant within a few weeks. That's according to the Wall Street Journal.

Nike (NKE) CEO Mark Parker has been named to the board of Walt Disney (DIS), effective immediately, bringing the total number of Disney directors to 12.

Mylan (MYL) submitted its generic version of the GlaxoSmithKline (GSK) lung drug Advair for FDA approval. A unit of Novartis (NVS) is also working on an Advair generic.

McDonald's (MCD) is the target of a European antitrust complaint, with Italian consumer groups claiming the restaurant chain imposes illegal terms on its franchisees.

JPMorgan Chase (JPM) is considering replacing its Bloomberg terminals with Reuters software unless the bank can get a better deal on the terminals, according to the New York Post.


WATERCOOLER

No. 2 Alabama, led by the Heisman Trophy winner Derrick Henry, won the College Football Playoff championship. It's the Crimson Tide's fourth national title under Coach Nick Saban. (NY Times)

NFL owners begin a special meeting today to consider bringing a team back to Los Angeles. A consensus is building for the St. Louis Rams and San Diego Chargers to share a stadium in Inglewood. (LA Times)