Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- U.S. stock futures were suggesting Wall Street would open lower Tuesday as fourth-quarter earnings season begins.
European stocks were moving lower while Asian shares ended Tuesday's trading session mostly to the downside. Japan's Nikkei 225 index declined 0.9% to 10,508.06 as the yen rose against the dollar.
The economic calendar in the U.S. Tuesday includes the ICSC/Goldman Sachs chain-store sales report for the week ended Jan. 5, and Redbook's Retail Sales Index for January.
U.S. stocks on Monday finished lower after a run-up on Friday that saw the S&P 500 rise to a new closing high. The Dow Jones Industrial Average shed 51 points, or 0.38%, to 13,384 on Monday. The S&P 500 fell 5 points, or 0.31%, at 1,462. The Nasdaq lost 3 points, or 0.09%, to 3,099.
AIG's (AIG) board is meeting Wednesday to consider whether to join a $25 billion shareholder lawsuit against the government, court records show, The New York Times reported. AIG just completed paying back the U.S. government for a $182 billion bailout.
Yum Brands (YUM) warned Monday that KFC sales in China would be slower because of a government review of its poultry.
Samsung Electronics, the world's largest technology company by revenue, said Tuesday it expects record fourth-quarter earnings on strong sales of smartphones and tablets. Samsung, which makes Galaxy smartphones, said fourth-quarter revenue likely rose 18% from a year earlier.
Earnings season kicks off Tuesday with reports from aluminum giant Alcoa (AA) and seeds company Monsanto (MON).
Sears (SHLD) said late Monday that CEO Louis D'Ambrosio is stepping down for family health reasons; Chairman Edward Lampert will take over the CEO duties.
Alabama beat Notre Dame, 42-14, in the BCS championship Monday night. Alabama claims its second straight national title and third in four years. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
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