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Morning Briefing: 10 Things You Should Know

Stocks in this article: AIG BP RIG JPM C

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) 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) 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) 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.

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