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TheStreet Open House

July 1 Premarket Briefing: 10 Things You Should Know

Stocks in this article: HPQFGMPAYXTWTRADSK

Here are 10 things you should know for Tuesday, July 1:

1. -- U.S. stock futures were rising Tuesday ahead of reports on car sales and manufacturing.

European stocks rose, as investors focused on the good news within a mixed clutch of economic data, even as German unemployment unexpectedly increased.

Asian shares ended the session mixed. Japan's Nikkei 225 gained 1.1%.

2. -- The economic calendar in the U.S. on Tuesday includes construction spending for May at 10 a.m. EDT, and the ISM Index for June at 10 a.m.

3. -- U.S. stocks on Monday closed mixed but the S&P 500 and Nasdaq clinched their sixth consecutive quarterly gain, a feat not seen in more than a decade.

The S&P 500 slipped 0.04% to 1,960.23 on Monday, the Nasdaq added 0.23% to 4,408.18, and the Dow Jones Industrial Average fell 0.15% to 16,826.60.

For the quarter, the S&P added 4.7%, the Nasdaq climbed 5% and the Dow gained 2.2%.

4. -- General Motors' (GM) added 8.2 million vehicles to its growing list of cars recalled over faulty ignition switches.

The latest recalls involve mainly older midsize cars and bring GM's total recalls in North America to 29 million this year, surpassing the 22 million recalled by all automakers last year. 

Chrysler, meanwhile, added about 696,000 minivans and SUVs to a 2011 recall to fix faulty ignition switches.

The latest recall covers some Dodge Journey SUVs and Chrysler Town & Country and Dodge Caravan minivans from the 2007 to 2009 model years. Most were sold in the U.S., Canada and Mexico.

5. -- Ford (F) and General Motors are expected to release auto sales for June throughout the day.

Light vehicle sales in the U.S. in June are expected to show a year-over-year decline of 2% to 3% percent in June, forecasters said, as quirks in the calendar will overshadow the industry's continued strength.

6. -- BNP Paribas, the largest bank in France, agreed to pay nearly $9 billion to resolve criminal allegations that it processed transactions for clients in Sudan and other blacklisted countries in violation of U.S. trade sanctions, the Justice Department announced Monday. The bank pleaded guilty to state charges in New York and plans another guilty plea in federal court next month.

7. -- Hewlett-Packard (HPQ) and attorneys representing shareholders confirmed on Monday they had agreed to settle litigation over the $11.1 billion acquisition of British software company Autonomy, Reuters reported.

Reuters first reported news of the settlement on Friday.

HP took an $8.8 billion impairment charge in November 2012 for its purchase of Autonomy just over a year earlier, with more than $5 billion of that linked to what HP said at the time were "serious accounting improprieties, misrepresentation and disclosure failures."
 

8. -- Paychex (PAYX), a payroll and human resources services provider, is expected by analysts on Tuesday to report earnings of 40 cents a share for its fiscal fourth quarter on revenue of $617.4 million.

9. -- Twitter (TWTR) said it purchased Tap Commerce, a New York-based mobile advertising technology firm.

The price wasn't disclosed, but Recode.net reported the deal was around $100 million.

10. -- Autodesk (ADSK) said Chief Financial Officer Mark Hawkins is leaving the company at the end of July for the same post at salesforce.com (CRM)

Why General Electric Stock Can Still Shock Investors After Alstom 

How GM Could Spin Off a $400 Billion Business

-- 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

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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