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Morning Briefing: 10 Things You Should Know

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

1. -- U.S. stock futures were rising Thursday amid optimism that President Obama and Republican leaders are inching closer to a compromise on ending the partial shutdown of the U.S. government.

European stocks were gaining. Asian shares ended Thursday's session mixed. Japan's Nikkei 225 index rose 1.1%.

2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT.

3. -- U.S. stocks on Wednesday ended mixed Wednesday as President Obama's nomination of Janet Yellen to lead the Federal Reserve offset fears of a federal default amid the ongoing debt-ceiling debate in Washington.

The S&P 500 rose 0.06% to close at 1,656.40. The Dow Jones Industrial Average closed up by 0.18% to 14,802.98. The Nasdaq fell was lower by 0.46% to 3,677.78.

4. -- Obama is meeting Thursday with House GOP leaders as they contemplate advancing a short-term debt limit increase to allow more time to reach an agreement to end the 10-day government shutdown and prevent the nation's first-ever default between Oct. 17 and the end of the month.

A short-term debt limit measure was expected to be a topic at a closed-door House GOP meeting Thursday morning, The Associated Press reported.

Obama met at the White House on Wednesday afternoon with House Democrats. The president told them that while he would prefer legislation extending the Treasury's borrowing ability beyond the next election, he would also sign a shorter-term bill.

Treasury Secretary Jack Lew has told lawmakers they must raise the debt limit by Oct. 17 to avoid risking a default, but neither house has yet scheduled a vote.

5. -- Citrix Systems (CTXS - Get Report), the cloud-computing company, saw its shares fall sharply in after-hours trading Wednesday after saying third-quarter earnings and revenue will fall shy of Wall Street estimates.

Citrix said it expects to post adjusted earnings of 68 cents to 69 cents a share in the third quarter, below analysts' views of 73 cents. Citrix expects revenue of $710 million to $712; analysts are looking for $737 million.

6. -- Chipmaker Micron Technology (MU - Get Report) is expected by Wall Street on Thursday to report fiscal fourth-quarter earnings of 25 cents a share on revenue of $2.71 billion.

7. -- The U.S. Air Force expects to finalize a $2.2 billion contract with Lockheed Martin (LMT - Get Report) for two more advanced military communications satellites in coming weeks, a top Air Force general told Reuters.
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