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TheStreet Open House

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures pointed to a higher start for Wall Street on Tuesday after eurozone finance ministers and the International Monetary Fund reached an agreement early Tuesday that would enable Greece to reduce its debt load.

The agreement allows Greece to receive €34.4 billion ($40.8 billion) immediately and three additional payments early next year.

European shares rose Tuesday after the Greek debt deal was reached, while Asian stocks finished with gains. Japan's Nikkei 225 index rose 0.4% to close at a seven-month high of 9,423.30.


The economic calendar in the U.S. Tuesday includes durable orders for October at 8:30 a.m. EST, the S&P Case-Shiller home price index for September at 9 a.m., the consumer confidence reading for November at 10 a.m., and the Federal Housing Finance Agency housing price index for September at 10 a.m.


U.S. stocks on Monday ended mixed as investors tried to decipher the latest round of rhetoric coming out of Washington regarding the so-called fiscal cliff.

The Dow Jones Industrial Average fell more than 42 points, or 0.33%, to close at 12,967. The S&P 500 lost almost 3 points, or 0.2%, to settle at 1406, while the Nasdaq ticked up nearly 10 points, or 0.33%, to finish at 2977.


The Organization for Economic Cooperation and Development said in a report Tuesday that the world's economic recovery will be "hesitant and uneven" in 2013.

The OECD said eurozone struggles will continue next year. It estimated a 0.4% contraction this year in the eurozone and 0.1% decline next year.

The agency forecast the U.S. economy will grow 2% in 2013.


Facebook (FB)shares jumped 8.1% to $25.94 on Monday, the third-biggest rally since the social networking giant went public in May, after Bernstein Research raised its investment rating on Facebook to outperform.


The board of Las Vegas Sands (LVS) declared a special dividend of $2.75 a share after Monday's closing bell.


Dollar General (DG), the discount retailer, will join the S&P 500, replacing Cooper Industries (CBE), which is being acquired by Eaton (ETN).


Green Mountain Coffee Roasters (GMCR) is expected by analysts Tuesday to post fiscal fourth-quarter profit of 48 cents a share in the September-ended period on revenue of $902.7 million.


Other companies expected to report their quarterly results Tuesday include ADT (ADT), Analog Devices (ADI), Culp (CFI), Duane Reade (DRD), PVH (PVH), Ralcorp Holdings (RAH) and Zoltek (ZOLT).


Equity Residential (EQR) and AvalonBay Communities (AVB) agreed Monday to jointly purchase the assets of Archstone Enterprise LP, mainly a portfolio of apartment properties, from Lehman Brothers.


-- 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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