NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Aug. 21:
1. -- U.S. stock futures were pointing to a lower open for Wall Street as traders await the minutes of the Federal Reserve's July policy meeting that are to be published Wednesday afternoon.
European stocks were trading mixed and Asian shares ended Wednesday's trading session flat. Japan's Nikkei 225 index rose 0.2%.
2. -- The economic calendar in the U.S. Wednesday includes existing home sales for July at 10 a.m. EDT, and the release of the minutes of the July meeting of the Federal Open Market Committee at 2 p.m.
3. -- U.S. stocks on Tuesday ended mixed but the S&P 500 snapped a four-day losing streak as upbeat retail earnings reports provided investors with some relief from the constant Fed tapering chatter plaguing markets worldwide. The S&P 500 rose 0.38% to 1,652.35. The Dow Jones Industrial Average declined 0.05% to 15,002.99. The Nasdaq added 0.68% to finish at 3,613.59.
4. -- A judge on Tuesday approved former iconic photographic filmmaker Eastman Kodak's plan to reemerge from bankruptcy. The company, known for a decades-long decline amid mismanagement and an inability to adapt to the digital age, will reemerge as a commercial printing company. "It will be enormously valuable for the Company to get out of Chapter 11, and begin to regain its position in the pantheon of American business," Judge Allan Gropper said in the court hearing in the U.S. Bankruptcy Court of the Southern District of New York. Gropper determined Kodak's bankruptcy plan to be feasible and even "likely to be successful."
5. -- Facebook (FB) on Wednesday announced Internet.org, a partnership with Samsung, Nokia and other large mobile technology companies. Facebook, the social networking giant, said the goal of the partnership is to "make Internet access available to the two-thirds of the world who are not yet connected." The partnership's plans include developing cheaper smartphones and using mobile data more efficiently.
6. -- Hewlett-Packard (HPQ), the PC and printer maker, is expected on Wednesday to post fiscal third-quarter earnings of 88 cents a share on revenue of $27.29 billion.
7. -- Lowe's (LOW) is forecast to post second-quarter earnings on Wednesday of 79 cents a share on revenue of $15.06 billion. Rival home-improvement retailer Home Depot (HD) on Tuesday posted a 17% increase in second-quarter earnings and it raised its full-year earnings and revenue expectations. Target (TGT) and Staples (SPLS) also report earnings on Wednesday.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV