Morning Briefing: 10 Things You Should Know
NEW YORK (
) -- U.S. stock futures were sharply lower Wednesday after European finance ministers delayed approval of the next €31.5 billion ($40 billion) installment of Greece's bailout loan.
European stocks were moving to the downside while Asian shares declined. Japan's Nikkei 225 index closed down 0.2%.
The economic calendar in the U.S. Tuesday includes the National Federation of Independent Business' small business optimism survey for October at 7:30 a.m. EST, the weekly ICSC-Goldman Sachs and Johnson Redbook reports on retail sales, and the Treasury Department budget for October at 2 p.m.
on Monday finished flat with investors mostly sticking to the sidelines after last week's big pullback following the election results.
The
Dow Jones Industrial Average
dipped less than a point, or 0.23%, to close at 12,815.16.
President Obama on Tuesday kicks off a series of meetings this week with labor officials, business executives and congressional leaders aimed at pushing Congress to avert the so-called fiscal cliff.
Obama plans to meet with corporate CEOs on Wednesday ahead of a meeting Friday with Congressional leaders, who return to Washington Tuesday with just seven weeks to go to reach an agreement on the fiscal cliff.
Microsoft's
(MSFT) - Get Report
Steven Sinofsky, president of Windows and Windows Live, is leaving the software giant.
The company didn't provide a reason for
which comes just weeks after Microsoft launched Windows 8.
Home Depot
(HD) - Get Report
, the home-improvement retailer, is expected by analysts Tuesday to report third-quarter earnings of 70 cents a share on revenue of $17.92 billion. Home Depot reports before Tuesday's opening bell.
Cisco
(CSCO) - Get Report
, the networking giant, is expected by Wall Street to post fiscal first-quarter profit of 46 cents a share on revenue of $11.78 billion.
reports after the markets close Tuesday.
Other companies slated to report on Tuesday include
Bluefly
(BFLY)
,
Crown Crafts
(CRWS) - Get Report
,
Dick's Sporting Goods
(DKS) - Get Report
,
Heelys
(HLYS)
,
Michael Kors Holdings
(KORS)
,
Plug Power
(PLUG) - Get Report
,
Renren
(RENN) - Get Report
,
Saks
(SKS)
,
Superconductor Technologies
(SCON) - Get Report
, and
TJX Cos.
(TJX) - Get Report
.
Yahoo!
(YHOO)
is preparing to launch a major overhaul of Yahoo Mail, which sources told
AllThingsD
has been initiated by new CEO Marissa Mayer and is being made to better compete with the fast-growing mail offering from
.
-- Written by Joseph Woelfel
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Joseph Woelfel
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