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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Morning Briefing: 10 Things You Should Know

Stocks in this article: CJPMLENBKWBAWFC

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) 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) 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) is expected by Wall Street on Tuesday to report fiscal third-quarter earnings of 45 cents a share on revenue of $1.56 billion.

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 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

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