This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures were suggesting a lower open for Wall Street on Monday after the World Bank cut its growth forecasts for Asia.

European stocks were trading lower while Asian shares finished Monday's trading session with losses. Hong Kong's Hang Seng index fell 0.9% to 20,824.56. Markets in Japan were closed for a holiday.

The World Bank cut its growth outlook in 2012 for developing Asia-Pacific economies to 7.2% from the forecast it made in May of 7.6%. The growth forecast for China was trimmed to 7.7% from 8.2%.

The economic calendar in the U.S. Monday is light because of the Columbus Day holiday. Banks and the bond market will be closed.

U.S. stocks on Friday finished mixed as weakness in technology stocks negated much of the early euphoria over a surprise decline in the unemployment rate in September.

The Dow Jones Industrial Average closed up nearly 35 points, or 0.26%, to 13,610.

The Bureau of Labor Statistics said Friday that U.S. nonfarm payrolls rose by 114,000 in September, just slightly ahead of the 113,000 consensus estimate. The unemployment rate came in at a 44-month low of 7.8%, down from 8.1%, as the labor force participation rate edged up to 63.6% versus 63.5% previously; economists were predicting the unemployment rate had risen to 8.2%.

Hugo Chavez won another six-year term as Venezuela's president.

Chavez won 54.4% of the vote, while opposition candidate Henrique Capriles took 44.9%. Chavez won his fourth presidential election since 1998.

California Gov. Jerry Brown on Sunday ordered state smog regulators to allow winter-blend gasoline to be sold in California earlier than usual to bring down prices.

On Sunday, the statewide average price for a gallon of regular gasoline rose to an all-time high, hitting $4.655, according to AAA.

Wal-Mart Stores (WMT - Get Report), the world's biggest retailer, and American Express (AXP - Get Report) plan to hold a conference call Monday to make a financial services announcement.

"Walmart and American Express are committed to providing innovative financial services solutions to help consumers reduce costs and better manage their everyday finances," the two companies said in a statement. The conference call begins at 8:30 a.m. EDT.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ZNGA $2.38 0.00%
AXP $65.43 0.00%
GM $31.80 0.00%
WMT $66.87 0.00%
AAPL $93.74 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs