Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Monday, July 22:

1. -- U.S. stock futures were pointing to gains on Wall Street Monday and Japanese markets rose after the country's ruling government regained control of parliament's upper house, giving Prime Minister Shinzo Abe a mandate to push economic reforms forward.

European stocks were trading higher. Japan's Nikkei 225 index rose 0.5% to finish at 14,658.04 and other Asian markets ended with gains.

2. -- The economic calendar in the U.S. Monday includes existing-home sales for June at 10 a.m. EDT.

3. -- U.S. stocks on Friday ended mixed amid disappointing earnings from big tech companies, but the S&P 500 rose 0.2% on Friday to cap a fourth-consecutive weekly advance.

The Dow Jones Industrial Average dipped slightly Friday to close at 15,543.74; the blue-chip index gained 0.51% for the week. The technology-heavy Nasdaq fell 0.7% on Friday to 3,587.61.

4. -- Apple ( AAPL) and its Asian suppliers are testing larger screens for iPhones and tablets, officials at the company's suppliers told The Wall Street Journal.

Apple has asked in recent months for prototype smartphone screens larger than 4 inches and has also asked for screen designs for a new tablet device measuring slightly less than 13 inches diagonally, the officials told the newspaper. The current iPhone 5 screen is 4 inches; the iPad has a 9.7-inch screen.

An Apple spokeswoman declined to comment for the Journal.

Whether either design will make their way to market is unclear, the Journal noted, since Apple routinely tests different designs for its products.

5. -- McDonald's ( MCD), the giant hamburger chain, is forecast by Wall Street to report on Monday second-quarter earnings of $1.40 a share on revenue of $7.09 billion.

6. -- Netflix ( NFLX), the streaming video service, is expected to report profit of 40 cents a share in the second quarter on revenue of $1.07 billion.

Netflix earned $6.2 million, or 11 cents a share, in the year-earlier quarter on revenue of $889 million.

7. -- Chipmaker Texas Instruments ( TXN) is expected by analysts on Monday to report second-quarter earnings of 41 cents a share on revenue of $3.06 billion.

8. -- Starwood Capital's Barry Sternlicht, the creator of the W Hotels chain, submitted a bid for department-store chain Saks ( SKS), The New York Post reported.

Shares of Saks jumped 8.2% on the news Friday to close at $15.89. One source told the Post that Sternlicht has offered between $17 and $18 a share.

9. -- GlaxoSmithKline ( GSK), under investigation on suspicion its employees bribed Chinese doctors, said Monday some of its executives may have broken the law, The Associated Press reported.

The British drug company said its president for Asia-Pacific and emerging markets met with Chinese police officials who are investigating whether Glaxo employees bribed doctors and hospital administrators to prescribe its drugs.

10. -- Phil Mickelson won the British Open on Sunday, shooting a final round of 66 to take home his fifth major championship.

-- Written by Joseph Woelfel

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