Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Oct. 11:

1.-- U.S. stock futures were rising Friday amid optimism that lawmakers in the U.S. will reach an agreement on raising the nation's debt limit to avoid a default.

European stocks were higher. Asian stocks ended Friday's session with gains. Japan's Nikkei 225 Index rose 1.5%

2.-- The economic calendar in the U.S. Friday includes the University of Michigan sentiment index for October at 9:55 a.m. EDT.

3.--U.S. stocks on Thursday surged after investors cheered a possible short-term agreement between Republicans and Democrats to raise the nation's borrowing limit.

The S&P 500 advanced 2.2% to 1,692.56, the benchmark's biggest jump since Jan. 2.

4.-- President Obama and top administration officials met for 90 minutes with House Speaker John Boehner and other House GOP leaders at the White House on Thursday night -- no agreement was reached on ending the partial government shutdown and on ways to avoid a federal default. However, both sides called the meeting positive and hopes emerged that a resolution might be attainable, even if it only was temporary one.

Obama planned a White House meeting Friday morning with GOP senators, who said they would present options of their own for ending the shutdown and debt limit standoff.

5.-- JPMorgan Chase  (JPM), the nation's largest bank, is expected by analysts on Friday to report third-quarter earnings of $1.19 a share, down 25% from $1.60 a share in the previous quarter and down 15% from $1.40 a share reported a year earlier.

Investors will be on focused on how the bank is handling its mounting legal tab as well as a raft of new regulations and enforcement actions.

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