Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, Aug. 21:

1. -- U.S. stock futures were pointing to a lower open for Wall Street as traders await the minutes of the Federal Reserve's July policy meeting that are to be published Wednesday afternoon.

European stocks were trading mixed and Asian shares ended Wednesday's trading session flat. Japan's Nikkei 225 index rose 0.2%.


2. -- The economic calendar in the U.S. Wednesday includes existing home sales for July at 10 a.m. EDT, and the release of the minutes of the July meeting of the Federal Open Market Committee at 2 p.m.


3. -- U.S. stocks on Tuesday ended mixed but the S&P 500 snapped a four-day losing streak as upbeat retail earnings reports provided investors with some relief from the constant Fed tapering chatter plaguing markets worldwide.

The S&P 500 rose 0.38% to 1,652.35. The Dow Jones Industrial Average declined 0.05% to 15,002.99. The Nasdaq added 0.68% to finish at 3,613.59.


4. -- A judge on Tuesday approved former iconic photographic filmmaker Eastman Kodak's plan to reemerge from bankruptcy.

The company, known for a decades-long decline amid mismanagement and an inability to adapt to the digital age, will reemerge as a commercial printing company.

"It will be enormously valuable for the Company to get out of Chapter 11, and begin to regain its position in the pantheon of American business," Judge Allan Gropper said in the court hearing in the U.S. Bankruptcy Court of the Southern District of New York.

Gropper determined Kodak's bankruptcy plan to be feasible and even "likely to be successful."


5. -- Facebook ( FB) on Wednesday announced Internet.org, a partnership with Samsung, Nokia and other large mobile technology companies.

Facebook, the social networking giant, said the goal of the partnership is to "make Internet access available to the two-thirds of the world who are not yet connected."

The partnership's plans include developing cheaper smartphones and using mobile data more efficiently.


6. -- Hewlett-Packard ( HPQ), the PC and printer maker, is expected on Wednesday to post fiscal third-quarter earnings of 88 cents a share on revenue of $27.29 billion.


7. -- Lowe's ( LOW) is forecast to post second-quarter earnings on Wednesday of 79 cents a share on revenue of $15.06 billion.

Rival home-improvement retailer Home Depot ( HD) on Tuesday posted a 17% increase in second-quarter earnings and it raised its full-year earnings and revenue expectations.

Target ( TGT) and Staples ( SPLS) also report earnings on Wednesday.


8. -- Goldman Sachs ( GS) sent orders accidentally on Tuesday because of a technical error, causing a flood of erroneous trades to hit U.S. equity options markets as they opened.

Options exchanges such as CBOE Holdings, Nasdaq OMX Group and NYSE Euronext said they were reviewing the trades, sent in roughly the first quarter hour of trading and affecting options on shares with listing symbols beginning with the letters H through L, Reuters reported.


9. -- Toll Brothers ( TOL), the luxury homebuilder, said fiscal third-quarter earnings fell to $46.6 million, or 26 cents a share, from $61.6 million, or 36 cents share, a year earlier, but revenue jumped 24% as average selling prices rose 13% and orders increased 26%.


10. -- Vine, the seven-month old video app owned by Twitter, said Tuesday it has more than 40 million registered users, up from the 13 million users it had in June.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.
Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

If you liked this article you might like

Kylie Jenner Puts $168 Million Into the Pockets of People That Hate Snap Stock

Kylie Jenner Puts $168 Million Into the Pockets of People That Hate Snap Stock

Jim Cramer: You Have to Decide If You Want to Profit From This Moment

Jim Cramer: You Have to Decide If You Want to Profit From This Moment

Kylie Jenner Will Probably Send Snap's Stock Into a Fresh Tailspin

Kylie Jenner Will Probably Send Snap's Stock Into a Fresh Tailspin

Here Are the 3 Stories Investors Are Watching Thursday

Here Are the 3 Stories Investors Are Watching Thursday

Why Facebook Struggles to Keep Pace With FANG Peers

Why Facebook Struggles to Keep Pace With FANG Peers