Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, March 5:
1. -- U.S. stock futures were suggesting Wall Street would open higher Tuesday, with futures for the Dow Jones Industrial Average drawing closer to the index's all-time high.
European stocks were rising in early trading. Asian stocks ended Tuesday's session with gains. Japan's Nikkei 22 index rose 0.3% to close at 11,683.45.
2. -- The economic calendar in the U.S. Tuesday includes the ISM non-manufacturing index for February at 10 a.m. EST.
3. -- U.S. stocks on Monday closed higher as confidence about continued stimulus support from global central banks offset worries surrounding the Chinese government's five-point plan to curb rising home prices and the U.S. budget impasse.
The Dow Jones Industrial Average rose 38.16 points, or 0.27%, to settle at 14,128. The blue-chip index booked its second highest close ever on Monday. The Dow's all-time high is 14,164.53.
The S&P 500 increased 7 points, or 0.46%, to close at 1,525. The Nasdaq advanced by 12.29 points, or 0.39%, to 3,182.
Corbat's speech, at Citi's 2013 U.S. Financial Services Conference in Boston, begins at 12:45 p.m. EST.
6. -- Vornado Realty Trust(VNO) was selling 10 million shares of J.C. Penney(JCP) in an unregistered secondary transaction, according to a person familiar with the sale, The Wall Street Journal reported.
The merger would create the world's largest airline.
8. -- A report by the Senate Permanent Subcommittee on Investigations highlights flaws in JPMorgan Chase's(JPM) public disclosures and takes aim at several executives, including Douglas Braunstein, who was chief financial officer at the time the bank recorded multibillion-trading losses, The New York Times reported, citing people briefed on the inquiry.
9. -- General Motors(GM) and its Chinese joint ventures sold 215,070 vehicles in the country in February, down 11% from the same month a year earlier.
-- Written by Joseph Woelfel
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