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Investors nervous over Syria as August nears end


The growing prospect of military intervention in Syria has world markets rattled, weighing on markets that were already unsettled over the economy and future moves by the Federal Reserve. The Dow and the S&P 500 are on track for their biggest monthly losses since May 2012, with four more trading days to go.


June housing data be in the spotlight this morning as the monthly S&P/Case-Shiller Home Price Index is released at 9 a.m. ET. Economists expect year-over-year price gains of about 12 percent in the country's largest markets.


The Conference Board issues its August Consumer Confidence Index at 10 a.m. ET, with consensus forecasts calling for a reading of 80.0, slightly lower than July's 80.3.


The Treasury will auction $34 billion in 2-year notes, with results of that sale available shortly after 1 p.m. ET. This marks the first reduction, albeit by only $1 billion, in the size of a 2-year note auction in three years.


Retailer Tiffany (TIF) is the most prominent of the companies set to release quarterly earnings this morning. Other reports due include Delia's (DLIA), DSW (DSW), Movado (MOV), and Regis (RGS). TiVo (TIVO) and retailer Wet Seal (WTSL) are among the few companies set for earnings reports after today's closing bell.


J.C. Penney (JCP) leads our list of stocks to watch, as Pershing Square's Bill Ackman will sell his entire 18 percent stake in the retailer. Ackman quit the board two weeks ago amid clashes with the company and other directors over strategy.


Starbucks (SBUX) is out with two separate pieces of news: CEO Howard Schultz told Reuters the coffee chain won't cut health benefits or reduce employee hours in anticipation of the health care reform law, as others have done. And the company also announced plans to open its first store in Colombia and only serve locally grown coffee.


Microsoft (MSFT) will not allow reporters to cover its September 19 analyst meeting in person. Instead, reporters will have to watch the event via webcast.


Facebook's (FB) $20 million settlement of a lawsuit over its "Sponsored Stories" has been approved. The suit claimed the program shared member "likes" of certain advertisers with Facebook friends without allowing them to opt out.


Best Buy (BBY) founder Richard Schulze has set up a plan to sell some of his 20 percent stake in the electronics retailer. An SEC filing said the plan is part of his personal strategy for asset diversification.


McDonald's (MCD) will debut "Mighty Wings" on September 9 at certain locations and will roll the chicken wing offering out nationally by September 24.


Apple (AAPL) is reportedly readying an iPhone trade-in program, according to several reports. Apple has an event scheduled for September 10 at which it's expected to unveil new iPhone and iPad models.