July 7 Premarket Briefing: 10 Things You Should Know

Here are 10 things you should know for Monday, July 7:

1. -- U.S. stock futures were pointing lower Monday ahead of earnings season and after last week's strong employment numbers.

European and Asian shares drifted lower. Japan's Nikkei 225 fell 0.4%.

2. -- The economic calendar in the U.S. on Monday is bare.

3. -- U.S. stocks on Thursday rose with stronger-than-expected jobs data and a falling unemployment rate enough to push the Dow Jones Industrial Average well over the 17,000 threshold.

The Dow closed Thursday (U.S. markets were closed Friday for Independence Day) at 17,068.26, up 0.54%. The S&P 500 rose 0.55% to 1,985.44 and the Nasdaq rose 0.63% to 4,485.92.

4. -- American Apparel  (APP) is in talks to raise new financing from hedge fund Standard General that would allow the company to pay off a loan that came due after it ousted founder Dov Charney, people familiar with the matter told The Wall Street Journal.

Bankers are still working out the terms of the financing from Standard General, which effectively controls 43% of the company's stock, and it is unclear what form it will take, a person familiar with the situation told the newspaper.

As part of the talks, the two sides also have reached an agreement in principle to replace all of the company's board -- except for its two co-chairmen -- with directors who have more industry experience. No formal agreement has been signed, people familiar with the situation said.

Still unclear is what role Charney will play at the company in the future, the Journal noted.

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