This Day On The Street
Continue to site
ADVERTISEMENT
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 signaling a lower open for Wall Street on Monday ahead of this week's Federal Reserve meeting at which the central bank is expected to announce fresh plans to stimulate the U.S. economy.

A disappointing jobs report on Friday reinforced the perception that the Fed would unveil plans for another asset purchase program at its next policy meeting on Wednesday and Thursday.

European shares were trading slightly lower Monday, while Asian stocks finished mixed after China released trade data showing that imports shrank and export growth was muted in August. Japan's Nikkei 225 fell marginally to close at 8,869.37.


The economic calendar in the U.S. Monday includes consumer credit for July at 3 p.m. EDT.


U.S. stocks on Friday finished the week with mild gains as investors looked ahead to the potential for more stimulus this week from the Federal Reserve.

The Dow Jones Industrial Average closed up nearly 15 points, or 0.11%, at 13,306.64, the best finish since December 2007. The blue-chip index is now up 8.91% in 2012 after surging 1.6% last week.


AIG (AIG - Get Report) said the U.S. Treasury Department is selling $18 billion worth of its common shares to institutional investors.

The sale could decrease the government's holdings below a majority stake for the first time since the rescue of the giant insurer in 2008.


BP (BP - Get Report) is nearing a deal to sell some of its oil fields in the Gulf of Mexico to Plains Exploration & Production (PXP) for about $7 billion, according to published media report.

The Wall Street Journal cited anonymous sources familiar with the matter.

The sale would be part of the BP's continuing efforts to sell off assets to pay for the 2010 Gulf oil spill.


JPMorgan Chase (JPM)directors are considering lower 2012 bonuses for CEO Jamie Dimon and other top executives in the wake of a multbillion-dollar trading scandal, while the board of Citigroup (C) is expected to decide this fall how to fine-tune next year's compensation plan to win broader support among investors, people familiar with the situation told the Journal.


Transocean (RIG - Get Report) agreed to sell 38 shallow-water drilling rigs to Shelf Drilling International for $1.05 billion.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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
SYM TRADE IT LAST %CHG
AIG $60.22 0.00%
BP $42.90 0.00%
RIG $20.09 0.00%
AAPL $131.39 0.00%
FB $80.48 0.00%

Markets

DOW 18,285.74 +0.34 0.00%
S&P 500 2,130.82 +4.97 0.23%
NASDAQ 5,090.7940 +19.0510 0.38%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs