Here are 10 things you should know for Monday, July 14:
1. -- U.S. stock futures were rising Monday ahead of earnings from Citigroup (C) and the expected announcement of a $7 billion deal between the bank and the Justice Department over shoddy mortgages.
European stocks rose on Monday after last week's fears over the health of Portugal's Banco Espirito Santo were put to one side and investors focused on more upbeat company news.
Asian stocks ended the session higher.
2. -- The economic calendar in the U.S. on Monday is bare.
3. -- U.S. stocks on Friday closed with slight gains. The Dow Jones Industrial Average rose 0.17% to finish at 16,943.58. The S&P 500 added 0.15% to 1,967.55. The Nasdaq climbed 0.44% to 4,415.49.
4. -- Citigroup is forecast by analysts to report on Monday second-quarter earnings of $1.05 a share on revenue of $18.93 billion.
The bank and U.S. authorities will announce a $7 billion agreement as soon as Monday to end probes of the bank's sales of mortgage-backed bonds, Bloomberg reported, citing a person with direct knowledge of the matter.
The deal, signed over the weekend, requires the firm to pay $4 billion to the Justice Department, about $300 million to state attorneys general and about $200 million to the Federal Deposit Insurance Corp., and to provide $2.5 billion in relief for consumers, the person told Bloomberg. The settlement includes a statement of facts, outlining the allegations, the person said.
5. -- Shire (SHPG), the Dublin-based drugmaker, said Monday it would be willing to recommend to its shareholders a new $53 billion takeover bid from AbbVie (ABBV), the fifth offer the U.S. drug giant has made to Shire.
