TOP STORIES 
 
U.S. STOCKS WAVER; APPLE RALLIES 

U.S. stock indexes swung between modest gains and losses as energy stocks declined and technology shares staged a rebound. Investors are awaiting an afternoon statement from the Federal Reserve's policy-setting committee.

 
BOEING POSTS STRONGER-THAN-EXPECTED RESULTS 
 

Boeing reported a 4Q profit of $1.47 billion, or $2.02 a share, as revenue improved to $24.47 billion. Still, the company gave a disappointing earnings outlook for 2015.

 
S&P, DOJ, STATES CLOSE TO $1.37 BILLION SETTLEMENT 
 

S&P could strike a deal as early as Thursday to pay more than $1.37 billion to resolve crisis-era lawsuits with the Justice Department and more than a dozen states, according to people familiar with the situation.

 
FIAT CHRYSLER NET PROFIT FALLS 
 

Fiat Chrysler Automobiles said that 4Q net profit plunged 68% as a tax gain from 2013 wasn't repeated. Fiat Chrysler also said it wouldn't pay a dividend on 2014 profit to preserve funds for its five-year plan.

 
GENERAL DYNAMICS REVENUE, PROFIT GROW 
 

General Dynamics' 4Q revenue and profit grew as its backlog also surged from a year ago. It earned $701 million, or $2.09 a share, up from $495 million a year ago. EPS from continuing operations came to $2.19. Analysts expected $2.13 EPS.

 
INTERNATIONAL PAPER SALES RISE ON NORTH AMERICA STRENGTH 
 

International Paper said 4Q sales rose 1.6% to $5.94 billion as strength in the packaging company's North American box division helped offset weakness elsewhere. Earnings fell to $134 million, or 32 cents a share.

 
OIL PRICES PARE LOSSES ON GROWING SUPPLY GLUT 
 

Crude-oil futures slightly pared their losses after U.S. stockpile additions fell short of industry estimates. March Nymex crude pared losses by about 60 cents, recently trading lower by 90 cents, or 2%, on the day, to $45.33 a barrel.

 
EU APPROVES THREE-PART DEAL BETWEEN NOVARTIS, GSK 
 

Drug giants Novartis and GlaxoSmithKline won European Union regulatory approval for a complicated series of deals worth more than $20 billion that will focus Novartis' scope and turn Glaxo into a vaccines-and-consumer-drug powerhouse.

 
U.S. MORTGAGE APPLICATION VOLUME FALLS 
 

The average number of mortgage applications for the week ended Friday fell 3.2% from the previous week, according a survey by the Mortgage Bankers Association.

 
U.S. DECEMBER BUILDING PERMITS REVISED HIGHER 
 

U.S. building permits for December were revised to up 0.5% from November to a seasonally adjusted rate of 1.058 million, the Commerce Department reported. Permits were originally reported as being down 1.9%.

 
FXCM TO FORGIVE SOME CLIENT LOSSES 
 

FXCM said it would forgive about 90% of its clients who incurred negative balances earlier this month after an unexpected surge in the Swiss franc left them with steep losses.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Earnings Preview 
FACEBOOK FACES CONCERNS ON SPENDING 
 

CEO Mark Zuckerberg spooked investors in October with talk of "investing aggressively" by acquiring companies, developing new technology and hiring thousands of employees.

 
The Wall Street Journal 
HARD CHOICES ON EASY MONEY FOR FED 
 

In the weeks ahead, Federal Reserve chairwoman Janet Yellen will face the challenge of forging consensus on whether to formally open the door to rates increases in June.