Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures were suggesting a lower open on Wall Street Friday after Chinese exports in July rose 1% over a year earlier, below forecasts of 5%, while import growth fell to 4.7% from June's 6.3%.

European stocks were falling while Asian shares ended Friday's session lower. Japan's Nikkei 225 index fell 1% to close at 8,891.44


The economic calendar in the U.S. Friday includes July import-export prices from the Labor Department at 8:30 a.m. EDT. Economists forecast a 0.1% rise in import prices and an unchanged reading for exports, according to Reuters.


U.S. stocks on Thursday ended little changed after a mixed bag of economic reports failed to show the direction of the global economy.

The Dow Jones Industrial Average fell 10 points, or 0.1%, at 13,165. The S&P 500 finished up about half a point at 1,403. The Nasdaq climbed 7 points, or 0.25%, to 3018.


The Justice Department won't prosecute Goldman Sachs ( GS) or the firm's employees for financial fraud related to the mortgage crisis.

The Justice Department's year-long investigation stemmed from allegations made in a report by a Senate panel investigating the 2008-2009 financial crisis.


J.C. Penney ( JCP) releases second-quarter results before Friday's opening bell and analysts expect the mid-price department store operator to post a loss of 26 cents a share on revenue of $3.2 billion.


The initial public offering of U.K. soccer club Manchester United ( MANU) was priced below its expected range. Shares were priced Thursday at $14 a share, below expectations of $16 to $20.

The IPO values the club at $2.3 billion. The stock begins trading Friday on the New York Stock Exchange.


Chipmaker Nvidia ( NVDA) topped analysts' expectations on the top and bottom lines its second quarter. The results were driven by mobile computing, particularly the booming tablet market, according to Nvidia CEO Jen-Hsun Huang.


Japanese insurer Dai-ichi Life said Friday it agreed to acquire up to 20% of Janus Capital ( JNS), the U.S. asset manager.


The U.S. team has won 90 medals, 39 golds, as the 2012 Olympics in London winds down this weekend. China has won 80 medals, 37 golds.

-- Written by Joseph Woelfel

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