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Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Tuesday, July 23:

1. -- U.S. stock futures were suggesting Wall Street would rise slightly when it opens Tuesday following gains in Asia and Europe on easing fears of a sharp economic slowdown in China.

According to Chinese media, Premier Li Keqiang vowed growth wouldn't go below 7%, suggesting the government would take measures to support the world's second-largest economy after two straight quarters of deceleration.

Japanese stocks ended Tuesday's session with an increase of 0.8%.

2. -- The economic calendar in the U.S. Tuesday includes the FHFA Housing Price Index for May at 9 a.m. EDT.

3. -- U.S. stocks on Monday gained as sluggish existing home sales and lower-than-expected earnings from McDonald's bolstered the outlook that the Federal Reserve is unlikely to begin curbing its stimulus measures in the near future.

The S&P 500 rose 0.2% to close at 1,695.53 while the Dow Jones Industrial Average ended little changed at 15,545.55. The Nasdaq rose 0.4% to 3,600.39

4. -- Apple (AAPL - Get Report) is expected by Wall Street to report on Tuesday fiscal third-quarter earnings of $7.32 a share on revenue of $35.02 billion.

Apple posted a profit of $9.32 a share in the year-earlier quarter on revenue of $35 billion.

Apple is under scrutiny over whether it can re-energize the opinions of Wall Street and investors that the iPhone and iPod maker remains innovative and that its products are still relevant in the changing world of technologies.

5. -- Netflix (NFLX - Get Report), the online entertainment company, reported earnings on Monday that beat Wall Street estimates but subscriber numbers that fell short.

Netflix reported earnings of 49 cents a share on revenue of $1.069 billion in the second quarter. Analysts expected Netflix to earn 40 cents a share on revenue of $1.07 billion.

The company added 630,000 domestic streaming subscribers, and 610,000 international streaming subscribers, bringing Netflix's total to 29.84 million domestic streaming subscribers. Expectations on Wall Street called for Netflix to add 700,000 domestic streaming subscribers.

6. -- DuPont (DD - Get Report), the chemicals conglomerate, is expected by Wall Street to report on Tuesday second-quarter profit of $1.27 a share on revenue of $10 billion.

7. -- Shipping giant United Parcel Service (UPS - Get Report) is forecast to report earnings of $1.13 a share on second-quarter revenue of $13.59 billion.

UPS pre-announced second-quarter earnings earlier this month, disappointing investors with a forecast that came in below Wall Street estimates. The company also lowered its profit forecast for the year as customers choose cheaper shipping options.
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AAPL $93.74 0.00%
DD $65.91 0.00%
NFLX $90.03 0.00%
T $38.82 0.00%
UPS $105.07 0.00%


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