The economic calendar in the U.S. Tuesday includes Redbook's Retail Sales Index of department and chain store sales for September at 8:55 a.m. EDT.
U.S. stocks on Monday finished mixed as a downbeat speech by Federal Reserve Chairman Ben Bernanke knocked stocks off early highs. Stocks were higher early Monday as investors cheered data showing that economic activity in the manufacturing sector expanded in September. The Dow Jones Industrial Average rose 78 points, or 0.58%, to close at 13,515.
JPMorgan Chase ( JPM) is reportedly being accused of fraud by New York Attorney General Eric Schneiderman. According to The Wall Street Journal, Schneiderman has filed a civil complaint against the bank related to its alleged role in the sale of toxic residential mortgage-backed securities. The suit relates to billions of dollars worth of subprime mortgage securities issued by Bear Stearns, which JPMorgan later bought when it fell into distressed straits in 2008. J.P. Morgan Chase spokesman Joseph Evangelisti told the newspaper the bank intends to contest the allegations, and that it is "disappointed" that the attorney general's office "decided to pursue its civil action without ever offering us an opportunity to rebut the claims."
Senate leaders are working on a plan for dealing with the "fiscal cliff" facing the U.S. in January, opting to try to use a post-election session of Congress to reach agreement on a comprehensive deficit reduction deal rather than a short-term solution, The New York Times reported.
Samsung can sell the Galaxy Tab 10.1 in the U.S. after a U.S. court removed a temporary sales ban against the device won by Apple ( AAPL) in a patent dispute, Reuters reported. "We are pleased with the court's action today, which vindicates our position that there was no infringement of Apple's design patent and that an injunction was not called for," Samsung in a statement.
Boeing's ( BA) engineers and technical workers' union, which represents 23,000 workers, rejected late Monday the aerospace giant's four-year contract offers. Talks on an agreement are expected to resume Tuesday.
Automakers such as Ford ( F)and General Motors ( GM)are expected to post auto and truck sales for September throughout Tuesday.
Earnings scheduled for Tuesday include Acuity Brands ( ACU), Mosaic ( MOS), Resources Connection ( RECN) and, Xyratex ( XRTX).
-- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.