Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- U.S. stock futures suggested Wall Street would open higher Tuesday as sentiment was lifted by signs of economic recovery, particularly in the U.S. jobs market.
European stocks gained and Asian stocks finished to the upside as the jobs report, released Friday in the U.S., came in stronger than expected. Japan's Nikkei 225 index rose 0.9% to close Tuesday at 8,803.31.
The economic calendar in the U.S. Tuesday includes consumer credit for June, due at 3 p.m. EDT. Economists, according to Briefing.com, are calling for a $10 billion increase on the heels of May's surprise $17.1 billion jump.
U.S. stocks on Monday finished with gains after last week's better-than-expected jobs report carried over into a quiet trading session.
The Dow Jones Industrial Average closed up more than 21 points, or 0.16%, at 13,117.51. The S&P 500 rose more than 3 points, or 0.23%, to close at 1394.
The Nasdaq was Monday's big winner, advancing 22 points, or 0.74%, to settle at 2990.
Eric Rosengren, president of the Federal Reserve Bank of Boston, said in an interview with The Wall Street Journal that the Fed should launch an aggressive, open-ended bond buying program that the central bank would continue until economic growth picks up and unemployment starts falling again.
Rosengren said the Fed should buy more mortgage-backed securities and possibly U.S. Treasury securities, and make it clear that it will continue to buy bonds "until we start seeing some pretty significant improvements in growth and income," the newspaper reported.
British bank Standard Chartered saw its shares drop sharply Tuesday following charges from the U.S. that the bank was involved in laundering money for Iran.
New York State Department of Financial Services alleged on Monday that Standard Chartered "schemed with the Government of Iran and hid from regulators roughly 60,000 secret transactions, involving at least $250 billion, and reaping SCB hundreds of millions of dollars in fees," over a nearly 10-year period.