This Day On The Street
Continue to site
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

Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Thursday, Sept. 19:

1. -- U.S. stock futures were rising and global stock markets surged Thursday after the Federal Reserve said it wouldn't reduce its massive economic stimulus.

European stocks were higher early Thursday. Asian shares ended the session with gains. Japan's Nikkei 225 index rose 1.8% to close at 14,766.18.

2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, existing home sales for August at 10 a.m., the Philly Fed survey for September at 10 a.m. and leading indicators for August at 10 a.m.

3. -- U.S. stocks on Wednesday posted sharp gains following the Fed's statement that the U.S. economy wasn't ready for a tapering of the central bank's unprecedented efforts at maintaining lenient monetary policies. The Fed said that it will continue to buy $85 billion in bonds per month until there's stronger evidence of economic improvement.

The S&P 500 gained 1.22% to reach a new all-time high of 1,725.52 and booked a fourth straight day of gains. The Dow Jones Industrial Average added 0.95% to close at 15,676.94. The Nasdaq gained 1.01% to finish at 3,783.64.

4. -- Regulators in the U.S. and U.K. are expected to fine JPMorgan Chase (JPM - Get Report) more than $900 million for actions tied to its 2012 "London Whale" trading debacle, according to a person familiar with the settlement talks, The Wall Street Journal reported.

The Securities and Exchange Commission, Office of the Comptroller of the Currency, the Federal Reserve and the U.K.'s Financial Conduct Authority are expected to charge the bank with poor controls surrounding the giant bet, which cost JPMorgan more than $6 billion, the Journal said.

The announcement of the settlements is expected to come early Thursday, according to people briefed on the plans.

5. -- Software maker Oracle (ORCL - Get Report) said fiscal first-quarter net income rose by 8%.

Adjusted earnings for the quarter of 59 cents a share topped Wall Street estimates of 56 cents. Revenue rose 2% to $8.37 billion; analysts were looking for revenue of $8.48 billion.

Software revenue rose 6% to $6.08 billion and included a 5% increase in new software licenses and cloud software subscriptions to $1.65 billion.

6. -- McDonald's (MCD - Get Report), the world's largest hamburger chain, raised its quarterly dividend by 5% to 81 cents a share from 77 cents.

The fourth-quarter payout will be more than $800 million. The next dividend is payable Dec. 16 to shareholders of record at Dec. 2.

Shares of McDonald's rose 78 cents on Wednesday to $98.70.

7. -- Wells Fargo (WFC - Get Report) is cutting about 1,800 more jobs in its home-loan production business, according to Bloomberg.

The reductions are in addition to 3,000 earlier this quarter, said Tom Goyda, a spokesman for the San Francisco-based bank, in an interview with Bloomberg on Wednesday.

Wells Fargo is cutting jobs as higher borrowing costs slow refinancings and new home purchases fail to compensate for the decline, Bloomberg noted.
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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CAG $40.95 -1.70%
JPM $66.86 -0.47%
MCD $114.09 -0.12%
ORCL $39.03 -0.38%
WFC $55.19 -0.36%


Chart of I:DJI
DOW 17,724.60 -73.89 -0.42%
S&P 500 2,081.96 -8.15 -0.39%
NASDAQ 5,110.1660 -17.3590 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs