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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) - 1. European markets were off and the dollar weaker as investors ponder the Fed's timetable for ending its bond-buying program. Remarks Wednesday afternoon by James Bullard, the president of the St. Louis Fed, offered little in the way of clarity. Bullard said the Fed "needs to see more data on macroeconomic performance for the second half of 2013 before making a judgment."


2. Japan's policymakers have denied they are considering immediate corporate tax cuts, triggering a fall in the dollar against the yen.


3. Cisco (CSCO) shares slumped more than 9% in extended trading. Citing the impact of a slower-than-anticipated global economic recovery, the networking giant announced 4,000 job cuts, or 5% of its global workforce, as part of its fiscal fourth-quarter earnings report.

Cisco's results were in line with expectations, with revenue of $12.4 billion, a 6% hike on the prior year's quarter, and earnings per share of 52 cents, up from 47 cents a share in the prior year's quarter. Analysts polled by Thomson Reuters expected Cisco to earn 51 cents a share.


4. The U.S. closed its Cairo embassy temporarily. Over 400 people have been killed in in Egypt during clashes between security forces and supporters of ousted President Mohammed Morsi. The military-led government has declared a state of emergency as it attempted to halt disperse protests through apparent brute force, bulldozing camps and firing on protesters.

In closing the embassy, the Obama administration issued a statement saying it "strongly condemns" the crackdown.

Objecting to the use of force, Egypt's interim Vice President Mohamed ElBaradei resigned on Wednesday.


5. Reacting to the Middle East unrest, crude oil prices are going higher. West Texas Intermediate crude oil prices continued to rise in electronic trading, with crude up 44 cents, or 0.4%, to $107.29 a barrel.


6. The Department of Justice filed charges Wednesday against two former traders of JPMorgan Chase (JPM) related to the company's $6.2 billion "London whale" trading loss. The charges are changing the way the financial world views the trading loss.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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