Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- U.S. stock futures were suggesting a lower open on Wall Street Friday after Chinese exports in July rose 1% over a year earlier, below forecasts of 5%, while import growth fell to 4.7% from June's 6.3%.

European stocks were falling while Asian shares ended Friday's session lower. Japan's Nikkei 225 index fell 1% to close at 8,891.44

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The economic calendar in the U.S. Friday includes July import-export prices from the Labor Department at 8:30 a.m. EDT. Economists forecast a 0.1% rise in import prices and an unchanged reading for exports, according to Reuters.

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U.S. stocks on Thursday ended little changed after a mixed bag of economic reports failed to show the direction of the global economy.

The Dow Jones Industrial Average fell 10 points, or 0.1%, at 13,165. The S&P 500 finished up about half a point at 1,403. The Nasdaq climbed 7 points, or 0.25%, to 3018.

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The Justice Department won't prosecute Goldman Sachs (GS) or the firm's employees for financial fraud related to the mortgage crisis.

The Justice Department's year-long investigation stemmed from allegations made in a report by a Senate panel investigating the 2008-2009 financial crisis.

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J.C. Penney (JCP) releases second-quarter results before Friday's opening bell and analysts expect the mid-price department store operator to post a loss of 26 cents a share on revenue of $3.2 billion.

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The initial public offering of U.K. soccer club Manchester United (MANU) was priced below its expected range. Shares were priced Thursday at $14 a share, below expectations of $16 to $20.

The IPO values the club at $2.3 billion. The stock begins trading Friday on the New York Stock Exchange.

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Chipmaker Nvidia (NVDA) topped analysts' expectations on the top and bottom lines its second quarter. The results were driven by mobile computing, particularly the booming tablet market, according to Nvidia CEO Jen-Hsun Huang.

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Japanese insurer Dai-ichi Life said Friday it agreed to acquire up to 20% of Janus Capital (JNS), the U.S. asset manager.

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The U.S. team has won 90 medals, 39 golds, as the 2012 Olympics in London winds down this weekend. China has won 80 medals, 37 golds.

-- Written by Joseph Woelfel



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