Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Oct. 15:

1.-- U.S. stock futures were pointing to a higher open for Wall Street on Tuesday as investors were optimistic that Washington lawmakers would get their act together and reach a budget deal.

European stocks were climbing while Asian shares ended Tuesday's session mostly higher. Japan's Nikkei 225 index rose 0.3%.

2.-- The economic calendar in the U.S. Tuesday includes the Empire State Manufacturing Index for October at 8:30 a.m. EDT.

3.--U.S. stocks closed in the green on Monday on signs that Congress was moving closer to a deal to avert a debt default.

The S&P 500 added 0.41% to 1,710.18 after falling as much as 1.2% while the Dow Jones Industrial Average gained 0.42% to 15,301.07. The Nasdaq jumped 0.62% to 3,815.27.

4.-- Senate leaders are closing in on an agreement to reopen the U.S. government and prevent a default on U.S. obligations.

Congressional aides predicted Majority Leader Harry Reid, D-Nev., and GOP leader Mitch McConnell of Kentucky could seal an agreement on Tuesday, just two days before the Treasury Department said it would run out of borrowing capacity.

The emerging agreement would reopen the government through Jan. 15 and permit the Treasury to borrow normally until early to mid-February.

"The general framework is there" between Reid and McConnell, said Sen. Bob Corker, R-Tenn. He said conversations with the House were continuing and he thought it would be midday Tuesday at the earliest before a plan was finalized.

5.-- Citigroup (C) is expected by analysts on Tuesday to report third-quarter earnings of $1.04 a share, compared with $1.34 a share in the second quarter, and 15 cents a share in the third quarter of 2012, when the company booked a $2.9 billion after-tax loss on the valuation of its share of the joint brokerage venture with Morgan Stanley.  

6.-- Yahoo!  (YHOO) is expected to post third-quarter earnings after the closing bell Tuesday and Wall Street expects the Internet company to earn 33 cents a share in the period on revenue of $1.08 billion. 

Yahoo! said it would allow the public to ask top company executives, including CEO Marissa Mayer, questions about the earnings following the report.

7.-- Apple (AAPL) has tapped Angela Ahrendts, CEO of fashion house Burberry, to oversee the expansion and operation of the tech giant's retail and online stores.

Apple said Tuesday that Ahrendts will begin her new role in the spring and report to CEO Tim Cook.

8.-- Chipmaker Intel (INTC) is expected by analysts on Tuesday to report third-quarter profit of 53 cents a share on revenue of $13.46 billion.


9.-- Johnson & Johnson (JNJ) is forecast on Tuesday to report earnings of $1.32 a share in the third quarter on revenue of $17.44 billion. 

10.
-- Coca-Cola (KO), the beverage giant, is expected by Wall Street to post third-quarter earnings of 53 cents a share on revenue of $12.05 billion.

-- Written by Joseph Woelfel

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

 

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