5 Things You Should Know Before the Stock Market Opens
NEW YORK (TheStreet) -- U.S. stock futures were pointing to a stronger open for Wall Street on Friday after European leaders took serious steps to ease the region's debt crisis.
At a summit meeting, the eurozone leaders agreed to rein in Italy's and Spain's spiraling borrowing costs and to create a single supervisory body for eurozone banks by the end of this year, according to Reuters.
European shares were surging while Asian stocks finished Friday with gains. Japan's Nikkei 225 index rose 1.5% to close at 9,006.78.
In the U.S. on Thursday, stocks closed with mild losses. The Dow Jones Industrial Average fell nearly 25 points, or 0.20%, to end at 12,602. The S&P 500 lost 3 points, or 0.21%, to finish at 1329.
The economic calendar in the U.S. Friday features personal income and spending data for May at 8:30 a.m. EDT; the Chicago purchasing managers index for June at 9:45 a.m.; and the final University of Michigan consumer sentiment read at 9:55 a.m.
Research In Motion (RIMM) disappointed Wall Street Thursday with its fiscal first-quarter results. The BlackBerry maker reported a much wider-than-anticipated loss , pushed back the launch of the BlackBerry 10 until the first calendar quarter of 2013 and announced plans to lay off 5,000 employees, roughly 30% of its work force.
Anheuser-Busch InBev (BUD), the world's largest brewer, confirmed Friday that it would buy the rest of Mexican brewer Grupo Modelo that it doesn't already own for $20.1 billion.
Nasdaq OMX Group (NDAQ) may be forced by the Securities and Exchange Commission to upgrade its trading systems in the wake of the problems with last month's initial public offering of Facebook (FB) , The Wall Street Journal reported.
-- Written by Joseph Woelfel
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