NEW YORK (TheStreet) -- Here are 10 things you should know for Thursday, Oct. 17:
1.-- U.S. stock futures were pointing to a lower Wall Street open on Thursday after Congress passed legislation to raise the nation's $16.7 trillion debt limit.
Asian stocks cheered the news; Japan's Nikkei 225 index closed Thursday with a gain of 0.8%. European stocks were slipping.
2.-- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, housing starts and building permits for September at 8:30 a.m., and the Philadelphia Fed survey for October at 10 a.m.
3.--U.S. stocks closed Wednesday with gains as Congress reached a budget deal and removed the threat of a government default.
The S&P 500 rose 1.4% to close at 1,721.54. The Dow Jones Industrial Average rose 1.4% to 15,373.83 while the Nasdaq advanced 1.2% to 3,839.43.
5.-- IBM (IBM) shares sunk almost 6% in after-hours trading on Wednesday after the technology giant reported better-than-expected third-quarter earnings but missed on the top line following a negative currency hit and as key growth markets trailed the majors for the first time. "Clearly we need to improve performance predominantly in the key growth markets," IBM Chief Financial Officer Mark Loughridge said during IBM's earnings call. "But we are confident this can get back on track by 2014," with mid-single digit growth in the growth markets by mid-2014. 6.-- Search giant Google (GOOG) is expected by Wall Street after Thursday's closing bell to report earnings of $10.35 a share on revenue of $14.82 billion. 7.-- Investment bank Goldman Sachs (GS) is expected by Wall Street on Thursday to post earnings of $2.43 a share in the third quarter on revenue of $7.36 billion. 8.-- eBay (EBAY), the online marketplace and payments processor, saw its shares fall more than 5% in after-hours trading on Wednesday after it issued a lackluster fourth-quarter outlook.
eBay forecast fourth-quarter earnings of 79 cents to 81 cents a share, below analysts' estimates of 83 cents. eBay said it expects fourth-quarter revenue of $4.5 billion to $4.6 billion, below forecasts of $4.64 billion.
9.-- Facebook (FB) is now allowing teenagers to share their posts on the social network with anyone on the Internet, raising the risks of minors leaving a digital trail that could lead to trouble. The change announced Wednesday affects Facebook users who list their ages as 13 to 17. Until now, Facebook users falling within that age group had been limited to sharing information and photos only with their own friends or friends of those friends. 10.-- Newark Mayor Cory Booker won a special election Wednesday to represent New Jersey in the U.S. Senate, beating conservative Steve Lonegan. With nearly all precincts reporting, Booker had 55% of the vote to Lonegan's 44%.
-- Written by Joseph Woelfel To contact the writer of this article, click here:Joseph Woelfel To submit a news tip, send an email to:email@example.com.
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