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Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, March 27:

1. -- U.S. stock futures were pointing to a pullback on Wall Street Wednesday after the S&P 500 climbed near its record during the prior session.

European stocks were falling slightly. Cyprus is expected to introduce capital controls when the country's banks reopen on Thursday.

Shares in Japan and Hong Kong finished with gains on Wednesday.


2. -- The economic calendar in the U.S. Wednesday includes pending home sales for February at 10 a.m. EDT.


3. -- U.S. stocks on Tuesday rose, with the S&P 500 closing less than 2 points from its all-time high, after a jump in U.S. durable goods orders and home prices bolstered the outlook for the world's largest economy.

The S&P 500 rose 0.8% to 1,563.77.

The Dow Jones Industrial Average increased 0.77% to 14,559.65. The Nasdaq climbed 0.53% to 3,252.48.


4. -- Wal-Mart (WMT - Get Report), in a regulatory filing, said it's now "probable" the world's largest retailer will record losses related to allegations that company representatives bribed officials in Mexico to speed up expansion in the country.

Wal-Mart said the issue in Mexico wouldn't have a material effect on its business, Reuters reported.


5. -- Ericsson (ERIC) is in talks to buy Microsoft's (MSFT - Get Report) IPTV business, which makes software used by phone companies to deliver television over the Internet, people with knowledge of the matter told Bloomberg.


6. -- PVH (PVH - Get Report), the clothing maker, is expected by Wall Street on Wednesday to report earnings of $1.50 a share on fourth-quarter sales of $1.6 billion.


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