Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, April 9:
1. -- U.S. stock futures were slightly higher Tuesday in the build-up to the next wave of first-quarter earnings reports.
European stocks were moving higher Tuesday. Asian shares ended the trading session mixed. Japan's Nikkei 225 index slipped slightly to close at 13,192.35.
Markets in Hong Kong and China rose as there were no signs that the virus causing an outbreak of bird flu was being transmitted from human to human.
2. -- The economic calendar in the U.S. Tuesday includes wholesale inventories for February at 10 a.m. EDT.
3. -- U.S. stocks on Monday closed higher on expectations quarterly earnings reports that begin this week will exceed forecasts.
The S&P 500 finished up 0.6% to 1,563.07 after posting the biggest weekly decline of the year last week.
The Dow Jones Industrial Average rose 0.3% to 14,613.48. The Nasdaq rose 0.6% to 3,222.25.
4. -- J.C. Penney
Ullman had been CEO of J.C. Penney until late 2011.
J.C. Penney has been struggling in recent months to try to turn itself around. It faces decreasing revenue and concerns about plans to stay afloat, given mounting debt.
5. -- Alcoa
Alcoa posted revenue of $5.83 billion, down from $6.01 billion a year earlier. Analysts were looking for revenue of $5.88 billion.
Alcoa said adjusted earnings rose to 11 cents a share from 10 cents a share a year earlier. Analysts were calling for quarterly profit of 8 cents a share.
6. -- Microsoft
7. -- First Solar
8. -- KPMG said Monday it fired a senior partner in its Los Angeles office after learning he had provided inside information to an unnamed individual "who then used that information in stock trades involving several West Coast companies," The New York Times reported.
KPMG didn't name the partner. It said that as a result of the discovery it had resigned as the auditor of two companies, "after concluding today that the firm's independence has been impacted as a result of this individual's behavior."