THE WORLD'S HOT NEWS ON MARCH 5TH, 2015.

IN THE NEWS TODAY ON MARCH 5TH, 2015

With the European Central Bank meeting and Friday's jobs report looming, stocks are coming off their worst two-day stretch since late January, in the wake of Nasdaq's brief foray over the 5,000 mark. (CNBC) Traders are hoping for more details on the European Central Bank bond-buying program when ECB President Mario Draghi speaks at 8:30 a.m. ET, after the bank's rate-setting meeting in Cyprus. Live blog (CNBC) China has set its GDP growth target at "around 7 percent" for 2015, the lowest in 11 years, focusing on quality over quantity as it overhauls its growth model. (CNBC) Brazilian monetary officials have hiked interest rates to a six-year high to combat inflation and curb currency declines, but economists say the move only tips the country closer to recession. (CNBC) Exxon Mobil (XOM) is cutting capital expenditures by about $4.5 billion, to $34 billion for 2015, CEO Rex Tillerson told CNBC. He also expects more volatility in the oil market. AbbVie (ABBV) has agreed to buy cancer drug specialist Pharmacyclics(PCYC) for $21 billion in cash and stock. Pharmacyclics had been rising in recent days on reports of a Johnson & Johnson (JNJ) purchase. (Reuters) Apple (AAPL) is said to be delaying the start of production for a planned larger iPad. Separately, Apple and HBO are closing in on a deal to include HBO's streaming service on Apple TV. (WSJ & CNBC) Employers cut fewer jobs in February than in the previous month, but total layoffs remained high compared to a year ago as the energy sector continued to slash employment, according to a report by Challenger, Gray & Christmas. Millionaires-in-the-making are different in several ways from people who are already millionaires, a new study reveals, with up-and-comers including more women and minorities. (USA Today) Hillary Clinton has asked the State Department to release all of her emailsfrom her four years as Secretary of State, breaking her silence on the disclosure she used a private email address for official government business. (NBC News) Sheriffs from Colorado, Kansas, and Nebraska has claimed in a lawsuit thatColorado's marijuana law violates the Constitution. They want a federal court to strike it down. (USA Today) From Texas to New York City, residents were bracing for yet another roundof snow and ice today. But once this storm moves out, there should finally be a break from the winter that never seems to end. (NBC News)