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TheStreet Open House

Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a lower open for Wall Street Tuesday, following losses in Europe on signs that a European banking union will take longer than expected to establish.

Shares in London and Frankfurt were trading lower. Asian stocks ended Tuesday's session mostly to the downside. Japan's benchmark Nikkei 225 index fell 0.4% to 9,123.77.


The economic calendar in the U.S. on Tuesday includes ICSC-Goldman Sachs weekly chain-store sales data at 7:45 a.m. EDT; the federal government's current account balance data for the second quarter at 8:30 a.m., the Treasury Department's international capital flow data at 9 a.m. , and the National Association of Home Builders's housing market index for September at 10 a.m.


U.S. stocks on Monday finished lower as the euphoria over the Federal Reserve's bold QE3 stimulus plan began to wear off.

The Dow Jones Industrial Average fell more than 40 points, or 0.3%, to close at 13,553. The blue-chip index, which began Monday's session up more than 11% so far in 2012, snapped a four-day winning streak.


FedEx (FDX), the package delivery giant, is expected by analysts Tuesday to post fiscal first-quarter earnings of $1.40 a share on revenue of $10.7 billion.

FedEx warned of a shortfall in its first-quarter results earlier this month, saying "weakness in the global economy constrained revenue growth at FedEx Express more than expected in the earlier guidance."


AMD (AMD) announced the abrupt resignation of its chief financial officer, Thomas Seifert.

The No. 2 chip maker behind Intel (INTC) said Monday that Seifert, who joined AMD in 2009 and served as interim CEO in 2011, is leaving to pursue other opportunities.


Apple (AAPL) saw its shares top $700 for the first time ever in extended trading on Monday, following Apple's announcement earlier in the day that it sold more than 2 million units of the iPhone 5 during its first 24 hours of pre-orders.


Time Warner Cable (TWC) posted in a regulatory filing its intention to sell its 46.4 million shares of wireless service provider Clearwire (CLWR).


Mitt Romney dismissed supporters of President Obama as people who live off government handouts and do not "care for their lives," in a secretly taped video.

At a hastily called news conference in Costa Mesa, Calif., Romney, the Republican presidential candidate, said his comments weren't well stated, but he didn't back away from them, according to a report from Reuters.

-- 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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