Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- U.S. stock futures were rising Thursday despite declined across the globe over fears the U.S. won't be able to reach an agreement quickly on resolving the so-called fiscal cliff.
European stocks were trading in the red. It was reported Thursday that the eurozone fell back into recession for the first time in three years.
Asian shares ended Thursday's session mostly lower following a leadership change in China. The Nikkei 225 index in Japan, however, rallied 1.9% to close at 8,829.72 on reports that Japanese parliamentary elections have been set for Dec. 16 and amid a weakening yen.
The economic calendar in the U.S. Thursday includes weekly jobless claims at 8:30 a.m. EST, the consumer price index for October at 8:30 a.m., and the Empire State manufacturing survey for November at 8:30 a.m.
U.S. stocks on Wednesday were dragged lower by persistent worries over the fiscal cliff. The Dow Jones Industrial Average closed down more than 185 points, or 1.45%, at 12,571. The blue-chip index, which has fallen in five of the past six sessions, is up just 2.89% year to date. The S&P 500 finished off more than 19 points, or 1.39%, at 1355, while the Nasdaq lost a little more than 37 points, or 1.29%, to settle at 2847.
BP (BP) said Thursday it is in advanced talks with the U.S. Department of Justice and the Securities and Exchange Commission about settling criminal and other claims from the Deepwater Horizon explosion in 2010. A source told Reuters that BP's settlement payment would be the largest criminal penalty in U.S. history.
Wal-Mart Stores (WMT), the world's largest retailer, is expected by analysts to report before Thursday's opening bell quarterly earnings of $1.07 a share on revenue of $115 billion. Rival Target (TGT) also reports third-quarter results on Thursday, and analysts polled by Thomson Reuters forecast a profit of 77 cents a share in the October-ended period on revenue of $16.92 billion.
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
