This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, July 31:

1. -- U.S. stock futures were flat to slightly higher Wednesday as the Federal Reserve wraps up its two-day meeting and ahead of a day filled with economic data.

The Fed isn't expected to announce any big changes when it issues its latest policy statement. But investors will be looking for clues as to when the central bank might begin pulling back on its monetary stimulus.

European stocks were rising Wednesday while Asian shares finished the trading session mostly lower. Japan's Nikkei 225 index declined 1.5%.


2. -- The economic calendar in the U.S. Wednesday includes the ADP Employment Change index for July at 8:15 a.m. EDT, advanced gross domestic product for the second quarter at 8:30 a.m., Chicago PMI at 9:45 a.m., and the rate decision from the Federal Open Market Committee at 2 p.m.


3. -- U.S. stocks on Tuesday ended mixed as the Fed presidents began their two-day meeting.

The S&P 500 rose 0.04% to 1,685.96 while the Dow Jones Industrial Average slipped 0.01% to 15,520.59. The Nasdaq added 0.48% to 3,616.47.


4. -- Cubist Pharmaceuticals (CBST) is making an aggressive move to expand its antibiotic business, by acquiring Optimer Pharmaceuticals (OPTR) and Trius Therapeutics (TSRX).

The deals are valued at $801 million and $818 million, if certain milestones are reached, respectively.

Cubist already markets the antibiotic Cubicin but once the two deals close the company will control Optimer's currently approved antibiotic Dificid as well as Trius' late-stage antibiotic candidate tedizolid.


5. -- Whole Foods Market (WFM - Get Report), the grocery chain, is expected by Wall Street on Wednesday to post fiscal third-quarter earnings of 37 cents a share on sales of $3.09 billion.


6. -- MasterCard (MA - Get Report), the credit card company, is forecast by Wall Street to report second-quarter earnings of $6.30 a share on revenue of $2 billion.


7. -- Cable giant Comcast (CMCSA - Get Report) is expected to post profit of 63 cents a share in the second quarter on revenue of $16.01 billion.

1 of 2

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CBST $101.94 0.14%
CMCSA $59.15 -0.79%
FB $80.41 1.07%
MA $91.28 -1.50%
WFM $56.72 -0.30%

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs