* Ukraine says Russia preparing for ‘maximum escalation’ in the war
* US increases military presence in Philippines to strengthen Asia influence
* Biden and McCarthy meet to discuss debt ceiling but no agreement announced
* Global manufacturing contraction shows signs of easing in January
* US job openings post surprising gain in December
* Construction spending for US is surprisingly weak in December
* US manufacturing activity continues sinking in January via ISM survey data
* Federal Reserve raises interest rates by 1/4 point as…
* Fed’s Powell says central bank not done lifting rates yet
* US hiring at companies slows sharply in January, ADP reports:

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Global markets roared back to life in January, led by US real estate shares. The only slice of the major asset classes that lost ground last month: commodities, based on a set of proxy ETFs.

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* Federal Reserve expected to slow rate hiking today to 1/4 point
* Fed’s Powell may stress today that inflation fight is far from over
* China’s manufacturing contraction eases in January via PMI survey data
* Eurozone manufacturing contraction eases, suggesting worst has passed
* Eurozone inflation slows for third straight month in January
* Key employment cost index for US rose less than forecast in Q4
* US consumer confidence eased in January but above 2022’s low
* Chicago PMI falls more than forecast in January, indicating deeper contraction
* US home price growth cools gain in November, extending run of softer pricing:

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