Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- U.S. stock futures were indicating a lower Wall Street open Wednesday following three straight days of gains.
European stocks were slipping while Asian shares ended Wednesday's trading session mostly higher a day before China reports July inflation, factory output and retail sales. Japan's Nikkei 225 index rose 0.9% to 8,881.16.
The economic calendar in the U.S. Wednesday includes productivity and unit labor costs data for the second quarter at 8:30 a.m. EDT.
U.S. stocks finished with modest gains Tuesday after a Federal Reserve official called for an aggressive asset purchase program. The Dow Jones Industrial Average closed up 51 points, or 0.39%, at 13,169. The S&P 500 rose 7 points, or 0.51%, to finish at 1401, the first since early May it finished above 1,400. The Nasdaq gained 26 points, or 0.87%, to close at 3016.
Walt Disney (DIS), the media and entertainment conglomerate, posted better-than-expected earnings but came up short of analysts' estimates on the top line. The company reported after Tuesday's closing bell earnings of $1.83 billion, or $1.01 a share, in its fiscal third quarter ended in July on revenue of $11.09 billion. Analysts were expecting a profit of 93 cents a share on revenue of $11.31 billion. Earnings were driven, in part, from strong ticket sales to movies like The Avengers.
Priceline.com (PCLN), the online travel reservation company, provided investors with an underwhelming outlook after Tuesday's close of trading. Priceline said it expects non-GAAP earnings of $11.10 to $12.10 for the third quarter ending in September, well below the current Wall Street consensus estimate for a profit of $12.76 a share. The company said its outlook "reflects an assumption that economic conditions in Europe will further deteriorate."
Macy's (M) is expected by analysts Wednesday to report second-quarter earnings of 64 cents a share on sales of $6.12 billion.
Earnings are also expected Wednesday before the bell from the likes of Alpha Natural Resources (ANR), Dish Network (DISH), Orbitz Worldwide (OWW), Polo Ralph Lauren (RL), Sodastream (SODA), Stillwater Mining (SWC) and Carlyle Group (CG),
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
