Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Oct. 4:
1. -- U.S. stock futures were suggesting Wall Street would open higher on Friday despite the continued shutdown of the U.S. government.
European shares were trading mixed early Friday. Asian stocks finished mostly lower. Japan's Nikkei 225 index declined 0.9%.
2. -- The economic calendar in the U.S. Friday is empty. The jobs report for September was scheduled to be issued Friday but has been postponed indefinitely because of the U.S. government shutdown.
3. -- U.S. stocks on Thursday fell the most in five weeks as the U.S. Capitol was briefly locked-down following an apparent shooting near the building and President Obama warned Wall Street that a prolonged shutdown and failure to raise the debt ceiling would have a wide and negative impact on the economy.
The S&P 500 dropped the most since Aug. 27, the fourth time in five days the index has declined, losing 0.8% to 1,680.94. The Dow Jones Industrial Average also fell 0.8% to 15,018.71 while the Nasdaq declined 1% to 3,777.80.
4. -- Twitter, the microblogging site led by CEO Dick Costolo, filed plans with the Securities and Exchange Commission to go public.
Twitter could raise up to $1 billion, a number that for now is just a placeholder used to calculate fees.
According to the filing, Twitter's revenue in 2012 was $316.9 million. Revenue for the first six months of 2013 was $253.6 million.
The U.S. still accounts for much of Twitter's revenue, as international revenue for 2012 was only $53 million. For the first six months of 2013, international revenue was $62.8 million, accounting for 25% of total revenue during that time frame. The social network noted that it recently focused on international spending in certain countries, including Australia, Brazil, Canada, Japan and the U.K.
Twitter noted that revenue grew by 198% from 2011 to 2012, while its net loss narrowed by 38% to $79.4 million.
Twitter will trade under symbol "TWTR." It hasn't disclosed on what exchange it will list.
5. -- Jamie Dimon relinquished his chairmanship of JPMorgan Chase's
He shed the title on July 1, one of the people said. In a document made public Thursday, Dimon is listed as chairman emeritus of J.P. Morgan Chase Bank N.A., the Journal said. The new chairman of the unit is former Johnson & Johnson Chairman and CEO William Weldon, one of the top directors on the parent company's board.
The move doesn't affect Dimon's status as CEO or chairman of JPMorgan's parent company board.
A JPMorgan spokesman told the Journal the governance change for one of the bank's largest subsidiaries wasn't the result of outside pressure.
The spokesman said the change in Dimon's title happened "solely to create a more uniform structure among our subsidiary boards."
6. -- Adobe Systems
Adobe, the maker of Photoshop, said the attacker accessed Adobe customer IDs and passwords on its systems. Through that, they were able to remove customer names, encrypted credit and debit card numbers, expiration dates and other information related to orders from customers worldwide. Adobe doesn't believe attackers removed credit and debit card numbers that weren't encrypted.
"Cyber attacks are one of the unfortunate realities of doing business today," Brad Arkin, Adobe's chief security officer, wrote in a blog post Thursday. "Given the profile and widespread use of many of our products, Adobe has attracted increasing attention from cyber attackers."
7. -- Instagram announced Thursday it would start introducing ads into its feed as it seeks to add revenue for parent Facebook
Instagram, which was acquired by Facebook last year, has more than 130 million monthly active users.
Facebook shares closed Thursday at $49.18, down 2.2%, but rose in after-hours trading following the Instagram announcement.