Morning Briefing: 10 Things You Should Know
NEW YORK (
) -- U.S. stock futures were pointing to a flat open on Wall Street Friday as U.S. lawmakers made limited progress in negotiations to resolve the so-called fiscal cliff.
European shares were rising marginally, while Asian stocks ended Friday's trading session mostly higher. Japan's Nikkei 225 index rose 0.5% following the release of an 880.3 billion yen ($10.7 billion) stimulus package by the Japanese government.
The economic calendar in the U.S. Friday includes personal income, spending and the core PCE
personal consumption expenditure inflation data for October at 8:30 a.m. EST, and the Chicago purchasing managers index for November at 9:45 a.m.
on Thursday finished modestly higher despite the ongoing back-and-forth on Capitol Hill about the pace of U.S. budget talks.
The
Dow Jones Industrial Average
rose nearly 37 points, or 0.28%, to close at 13,022. The
Nasdaq
gained 20 points, or 0.68%, to settle at 3012 for its first finish above 3000 since Nov. 6.
Zynga
(ZNGA)
and
TheStreet Recommends
(FB)
modified the terms of their partnership.
Zynga disclosed in a regulatory filing Thursday that it will no longer have to display Facebook ads or use Facebook payments on its own Zynga.com properties. Facebook will be permitted to develop its own games under the new partnership.
Apple's
(AAPL)
iPhone 5 received approval for a "network access" license in China. The final clearance paves the way for a December debut of the iPhone 5 in China, according to
Reuters
.
Citigroup's
(C)
trading and investment-banking division plans to cut 150 more jobs and shrink bonuses by as much as 10%,
Bloomberg
reported, citing two people with direct knowledge of the decisions.
Splunk
(SPLK)
posted third-quarter revenue of $52.05 million, up 67% from a year earlier. On a non-GAAP basis, Splunk posted a loss of 1 cent a share. Analysts were looking for a loss of 2 cents a share on $46.67 million in revenue.
Splunk also gave fourth-quarter revenue guidance on Thursday that was above Wall Street estimates.
Zumiez
(ZUMZ)
gave a disappointing outlook on Thursday and quarterly revenue came in below analysts' forecasts.
Earnings are expected Friday from
Genesco
(GCO)
,
Johnson Outdoors
(JOUT)
and
United Natural Foods
(UNFI)
.
-- Written by Joseph Woelfel
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Joseph Woelfel
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