This Day On The Street
Continue to site
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 higher start for Wall Street Monday on optimism that U.S. lawmakers can reach a deal to resolve the looming fiscal cliff.

President Obama met with the top leaders of the House and Senate on Friday for initial discussions on ways to avert the combination of tax rate increases and spending cuts scheduled to take effect on Jan. 1.

European stocks were mostly higher while Asian shares ended Monday's trading session with gains. Japan's Nikkei 22 index rose 1.4% to close at 9,153.20.

The economic calendar in the U.S. Monday includes the existing-home sales report from the National Association of Realtors at 10 a.m. EST.

U.S. stocks on Friday finished higher as investors were cheered by positive commentary coming out of initial fiscal cliff discussions between Obama and congressional leaders.

The Dow Jones Industrial Average rose nearly 46 points, or 0.37%, to close at 12,588. The blue-chip index snapped a four-day losing streak and ended the week down 1.77%. For the year, the Dow is up 3.03%.

Cisco Systems (CSCO - Get Report), the networking giant, announced Sunday it was buying cloud computing company Meraki for $1.2 billion.

Meraki, based in San Francisco, will form Cisco's new Cloud Networking group, which will be led by Meraki CEO Sanjit Biswas.

News Corp (NWSA - Get Report) is expected to announce this week that it will acquire a 49% in the YES Network from the New York Yankees and its partners, according to Reuters, which cited a person with knowledge of the talks.

The deal would value the sports channel at $3 billion, Reuters said.

Citigroup (C - Get Report) agreed to pay $360 million to the brokerage estate of Lehman Brothers to resolve a fight over $1 billion that Lehman deposited at Citigroup the week that Lehman filed for bankruptcy protection during the height of the 2008 financial crisis.

Lowe's (LOW - Get Report), the home-improvement retailer, is expected by analysts Monday to earn 35 cents a share in the third quarter on revenue of $11.91 billion.

Rival Home Depot (HD) last week posted a slight increase in third-quarter net income.

Earnings are also expected Monday from Urban Outfitters (URBN), Tyson Foods (TSN), Jack in the Box (JACK), Krispy Kreme (KKD), Agilent (A) and Brocade (BRCD).

-- Written by Joseph Woelfel

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

>To submit a news tip, send an email to:
Copyright 2012 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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
C $51.38 0.00%
CSCO $27.91 0.00%
LOW $73.33 0.00%
NWSA $13.96 0.00%
AAPL $112.12 0.00%


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs