NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Oct. 1:
1. -- U.S. stock futures pointed to a recovery on Wall Street Tuesday despite a U.S. government funding impasse.
European stocks traded mixed early Tuesday. Asian shares ended mixed. Japan's Nikkei 225 index rose 0.2% after the latest quarterly "tankan" business survey of the country's manufacturers showed a sharp improvement in confidence.
2. -- The economic calendar in the U.S. Tuesday includes the ISM Index for September at 10 a.m. EDT, and construction spending for August at 10 a.m.
3. -- U.S. stocks on Monday finished lower ahead of the government shutdown at a time when the Federal Reserve appears divided on the future of its stimulus program and the pace of the U.S. economic recovery remains sluggish. The S&P 500 declined 0.6% to close at 1,681.55 while the Dow Jones Industrial Average lost 0.9% to finish at 15,129.67. The Nasdaq dropped 0.3% to 3,771.48. The S&P, Dow Jones and Nasdaq gained for the 2013 third quarter by 4.7%, 1.5% and 10.8%, respectively.
4. -- Congress plunged the nation into a partial government shutdown Tuesday as a long-running dispute over President Obama's health care law stalled a temporary funding bill, forcing about 800,000 federal workers off the job and suspending most non-essential federal programs and services. The shutdown is the first since the winter of 1995-96. The health care law was unaffected as enrollment opened Tuesday for millions of people shopping for medical insurance.
5. -- Amazon.com (AMZN) said Tuesday it is hiring 70,000 full-time seasonal workers across its U.S. fulfillment centers over the holiday season to meet increased demand. The retailer said the hires are an increase of 40% from last year. Amazon said it plans to convert "thousands" of the temporary jobs into full-time roles after the holiday season. "So far this year, we have converted more than 7,000 temporary employees in the U.S. into full-time, regular roles and we're looking forward to converting thousands more after this holiday season," said Dave Clark, Amazon's vice president of worldwide operations and customer service.
6. -- Google (GOOG) has offered concessions that would allow it to avoid a showdown with European regulators. Joaquin Almunia , the European Commission's top antitrust official, said Google would allow competitors to display their own logos on its search display results page. He said Google's concessions will be tested to see how they would work in the market. Only then will the commission decide whether to accept them. Google is looking to settle a nearly three-year antitrust probe and avert a possible multibillion-dollar fine, The Wall Street Journal reported.
7. -- Wells Fargo (WFC) agreed to a settlement of $869 million with Freddie Mac over claims on home loans the bank sold to the government-controlled mortgage finance company. The agreement involves mortgages sold to Freddie Mac before January 2009.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV