Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- U.S. stock futures were suggesting Wall Street would open higher Wednesday despite a stalemate in U.S. budget talks.
European shares were rising while Asian stocks ended Wednesday's session with gains. Japan's Nikkei 225 index rose 0.4% to 9,468.84 and the Shanghai Composite Index jumped 2.9% to 2,031.91 on hopes for more stimulus measures.
The economic calendar in the U.S. Wednesday includes ADP's employment report for November at 8:15 a.m. EST, and factory orders and ISM's November non-manufacturing index, both at 10 a.m.
U.S. stocks on Tuesday slumped as eurozone troubles continued to fester and U.S. "fiscal cliff" talks were at a standstill. The Dow Jones Industrial Average dropped 14 points, or 0.11%, to close at 12,952.
Netflix (NFLX) and Walt Disney (DIS) agreed on Tuesday to a movie-licensing deal. The agreement makes Netflix the exclusive subscription television service for first-run Disney Studios' animated and live-action feature films in the U.S.
Pandora Media (P) said third-quarter earnings more than tripled to $2 million as revenue rose 60% to $120 million but the Internet radio company on Tuesday issued a downbeat forecast for the fourth quarter.
Chipmaker Altera said Tuesday it expects fourth-quarter sales to fall 8% to 10% from third-quarter sales of $495 million; it previously forecast sales to drop 6% to 8%. The company cited weak demand for its older products.
The Securities and Exchange Commission launched an inquiry into a $10 million sale of stock by Big Lots (BIG) CEO Steven Fishman before the company announced news that sank the stock, a person familiar with the inquiry told The Wall Street Journal. Fishman announced his retirement on Tuesday.
Earnings reports are expected Wednesday from Men's Wearhouse (MW), Toro (TTC), Finisar (FNSR), Brown-Forman (BFB) and G-III Apparel (GIII).
-- 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.
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