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Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Tuesday, Sept. 24:

1. -- U.S. stock futures were pointing to a mixed start for Wall Street on Tuesday as investors weighed uncertainties over the Federal Reserve's next step with a potential budget showdown in Washington.

European shares were rising in early trading. Asian stocks ended the session mostly lower. Japan's Nikkei 225 index declined 0.1%.

2. -- The economic calendar in the U.S. Tuesday includes the Case-Shiller 20-city Index for July at 9 a.m. EDT, the FHFA Housing Price Index for July at 9 a.m. and Consumer Confidence for September at 10 a.m.

3. -- U.S. stocks on Monday finished in the red, with the S&P 500 and Dow Jones Industrial Average logging their first three-day decline in a month as investors weighed the sugar rush that the Fed's ultra-loose accommodation has been providing against the still vulnerable economic backdrop that caused the central bank to maintain its $85 billion per month bond-buying stimulus program.

The S&P 500 fell 0.47% to close at 1,701.84. The Dow declined 0.32% to 15,401.38. The Nasdaq traded lower by 0.25% to 3,765.29.

4. -- Citigroup (C - Get Report) said Monday it is cutting about 1,000 jobs in Nevada and Texas, citing decreased demand for home loans and mortgage refinancing.

Wells Fargo (WFC) said recently it was slashing more than 4,000 full-time mortgage-department jobs because of weaker demand, while Bank of America (BAC) cut about 2,100 workers.

5. -- Chrysler filed a share offering to return to the public stock markets, as the company's majority shareholder, Fiat, continues to press for full control of the automaker.

Chrysler said late Monday that it filed a registration statement with the Securities and Exchange Commission for an IPO. The number and price of the shares hasn't been determined. The shares are expected to be traded on the New York Stock Exchange if a listing is consummated.

The sole seller would be the United Auto Worker's Retiree Medical Benefits Trust, which holds a 41.5% ownership stake and would receive all of the net proceeds.

Chrysler's effort at a public offering has been complicated by a battle between the UAW medical benefits trust and Fiat, the majority owner with a 58.5% stake. Fiat has sought to buy all of the shares it doesn't own.

6. -- Justice Department officials are preparing to file a civil lawsuit against JPMorgan Chase (JPM - Get Report) over the bank's handling of residential mortgage-backed securities before the financial crisis, The Wall Street Journal reported, citing people familiar with the matter.

Government lawyers notified the bank they planned to file the lawsuit as early as Tuesday, but enewed discussions Monday could change that schedule, according to a person familiar with the talks, the Journal said.

Federal prosecutors also are weighing whether to bring any criminal charges stemming from the case, the newspaper reported, citing a person familiar with the case.

7. -- Homebuilder Lennar (LEN - Get Report) is expected by Wall Street on Tuesday to report fiscal third-quarter earnings of 45 cents a share on revenue of $1.56 billion.
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