Morning Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, March 4:

1. -- U.S. stock futures were suggesting Wall Street would open lower Monday, following global stocks to the downside after Chinese stocks dived amid moves to cool a heated housing market.

European stocks were falling in early trading while Asian shares ended Monday's session mostly lower. The Shanghai Composite Index plunged 3.7% to 2,273.40 after China's Cabinet ordered new measures to cool surging housing prices.

Japan's Nikkei 225 index, however, gained 0.4%.

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

3. -- U.S. stocks on Friday finished higher as better-than-expected manufacturing and consumer sentiment data trumped President Obama's warnings about the economic impact of $85 billion in automatic spending cuts.

The Dow Jones Industrial Average rose 35.17 points, or 0.25%, to close Friday at 14,089.66. The blue-chip index closed up 0.64% for the week.

The S&P 500 rose 3.52 points, or 0.23%, to finish at 1,518.2. The Nasdaq gained 0.3% on Friday.

4. -- For the first time, Warren Buffett appears concerned he will underperform the S&P 500 when it comes to his favorite way to peg the performance of his investing conglomerate, Berkshire Hathaway(BRK.A) .

In Berkshire Hathaway's annual letter to shareholders, Buffett outlined why he is worried a rising stock market will put the firm's performance below that of the S&P 500 over a five-year stretch.

5. -- A federal judge ruled that jurors miscalculated nearly half the $1 billion in damages it found Samsung owed Apple(AAPL) for patent infringement.