2. -- The economic calendar in the U.S. Tuesday includes the Case-Shiller 20-city Index for July at 9 a.m. EDT, the FHFA Housing Price Index for July at 9 a.m. and Consumer Confidence for September at 10 a.m.
3. -- U.S. stocks on Monday finished in the red, with the S&P 500 and Dow Jones Industrial Average logging their first three-day decline in a month as investors weighed the sugar rush that the Fed's ultra-loose accommodation has been providing against the still vulnerable economic backdrop that caused the central bank to maintain its $85 billion per month bond-buying stimulus program. The S&P 500 fell 0.47% to close at 1,701.84. The Dow declined 0.32% to 15,401.38. The Nasdaq traded lower by 0.25% to 3,765.29.
4. -- Citigroup ( C) said Monday it is cutting about 1,000 jobs in Nevada and Texas, citing decreased demand for home loans and mortgage refinancing. Wells Fargo ( WFC) said recently it was slashing more than 4,000 full-time mortgage-department jobs because of weaker demand, while Bank of America ( BAC) cut about 2,100 workers.
5. -- Chrysler filed a share offering to return to the public stock markets, as the company's majority shareholder, Fiat, continues to press for full control of the automaker. Chrysler said late Monday that it filed a registration statement with the Securities and Exchange Commission for an IPO. The number and price of the shares hasn't been determined. The shares are expected to be traded on the New York Stock Exchange if a listing is consummated. The sole seller would be the United Auto Worker's Retiree Medical Benefits Trust, which holds a 41.5% ownership stake and would receive all of the net proceeds. Chrysler's effort at a public offering has been complicated by a battle between the UAW medical benefits trust and Fiat, the majority owner with a 58.5% stake. Fiat has sought to buy all of the shares it doesn't own.
6. -- Justice Department officials are preparing to file a civil lawsuit against JPMorgan Chase ( JPM) over the bank's handling of residential mortgage-backed securities before the financial crisis, The Wall Street Journal reported, citing people familiar with the matter. Government lawyers notified the bank they planned to file the lawsuit as early as Tuesday, but enewed discussions Monday could change that schedule, according to a person familiar with the talks, the Journal said. Federal prosecutors also are weighing whether to bring any criminal charges stemming from the case, the newspaper reported, citing a person familiar with the case.
7. -- Homebuilder Lennar ( LEN) is expected by Wall Street on Tuesday to report fiscal third-quarter earnings of 45 cents a share on revenue of $1.56 billion.
8. -- Burger King ( BKW), the world's second-largest hamburger chain, is launching a new crinkle-cut french fry on Tuesday that has about 20% fewer calories than its regular french fries. Burger King said a small order of the new "Satisfries" has 270 calories because of a new batter that doesn't absorb as much oil. A small order of Burger King's regular fries has 340 calories.
9. -- South Korea voted against Boeing's ( BA) F-15 Silent Eagle in its 8.3 trillion won ($7.7 billion) tender for 60 fighter jets, the country's arms procurement agency said on Tuesday, saying it would restart the bidding process, Reuters reported.
10. -- The Denver Broncos beat the Oakland Raiders, 37-21, on Monday night. The win was Denver's 14th straight regular season victory, tying the franchise record set in 1998 when the Broncos won their second Super Bowl.
-- 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.