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Jan. 7 Premarket Briefing: 10 Things You Should Know

Here are 10 things you should know for Tuesday, Jan. 7: 

1.-- U.S. stock futures were rising and European shares were posting gains early Tuesday, but stocks in Japan declined on the continued strength of the yen.

Japan's Nikkei 225 index fell 0.6% on Tuesday. Hong Kong's Hang Seng index rose 0.1%.

2.-- The economic calendar in the U.S. Tuesday includes the trade balance for November at 8:30 a.m. EST.

3.-- U.S. stocks on Monday declined as investors sold shares on signs of economic softness while digesting mixed growth signals from China.

The S&P 500 fell 0.25% to close at 1,826.77, while the Dow Jones Industrial Average slipped 0.27% to finish at 16,425.10. The Nasdaq closed 0.44% lower at 4,113.68.

4.-- The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve.

Yellen, 67 years old, will replace Ben Bernanke, who is stepping down after serving as chairman of the central bank for eight years. Yellen will begin her term on Feb. 1.

Senators confirmed Yellen by 56-26, with numerous absences because of bad weather around much of the U.S. The Associated Press reported. All 45 voting Democrats were joined by 11 Republicans in supporting Yellen, while 26 Republicans voted "no."

5.-- Officials at JPMorgan Chase (JPM) won't be penalized as part of a deal the bank is negotiating with the Justice Department over alleged failures to warn about Bernard Madoff's massive fraud, The Wall Street Journal reported, citing people close to the talks.

Manhattan U.S. Attorney Preet Bharara and U.S. banking regulators intend to announce a total of more than $2 billion in fines this week, the people told the Journal. But all fines will be paid by the company as opposed to individuals, the people added.

6.-- Intel (INTC) CEO Brian Krzanich, in his keynote speech at the International Consumer Electronics Show in Las Vegas, unveiled a number of new wearable devices, including a smart watch, smart earbuds with biometric fitness capabilities, and a smart wireless charging bowl.

7.
-- Samsung's earnings fell for the first time in two years as sales of smartphones and tablets slowed in developed countries.

The South Korean company Tuesday estimated an operating profit of 8.3 trillion won ($7.8 billion) for the last quarter of 2013, a 6% decline from a year earlier. The result was below analysts' forecasts and 18% below third-quarter earnings. Sales rose 5% to 59 trillion won ($55.4 billion).

8.-- Memory-chip maker Micron Technology (MU) is expected by analysts to report on Tuesday first-quarter earnings of 44 cents a share on revenue of $3.72 billion. 

9.-- Two bosses at Goodyear (GT) are being held captive by workers inside a tire factory in northern France that the company wants to close.

Michel Dheilly, the director of production at the plant in Amiens, and human resources chief, Bernard Glaser, haven't been allowed to leave the plant.

Goodyear has been trying to sell or close the plant for five years.

10.
-- Top-ranked Florida State beat Auburn in the final seconds of the BCS championship game on Monday night

Jameis Winston threw a 2-yard touchdown pass to Kelvin Benjamin with 13 seconds left as Florida State beat No. 2 Auburn 34-31.

 

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Follow @josephwoe58

Stock quotes in this article: JPM, INTC, MU, GT 
Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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