NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Oct. 30:
1.-- U.S. stock futures were pointing to gains on Wall Street Wednesday as investors expect the Federal Reserve to maintain the pace of stimulus the central bank has been supplying to the economy.
European stocks were rising in early trading while Asian shares finished Wednesday's session with gains. Japan's Nikkei 225 index rose 1.2%.
2.-- The economic calendar in the U.S. Wednesday includes the ADP Employment Change Index for October at 8:15 a.m. EDT, the third-quarter advance reading on gross domestic product at 8:30 a.m., and the Consumer Price Index for September at 8:30 a.m. The rates decision from the Federal Open Market Committee is expected at 2:15 p.m.
3.--U.S. stocks on Tuesday rose and the Dow Jones Industrial Average and S&P 500 closed at record highs on expectations the Fed won't pull back on its stimulus measures at the conclusion of its two-day policy meeting Wednesday given that the U.S. economic recovery continues to struggle.
Investors will be focused on signs that Facebook can keep growing advertising revenue, especially on mobile devices.
Facebook posted earnings, excluding special items, in the year-earlier third quarter of 12 cents a share on revenue of $1.26 billion.
5.-- General Motors (GM), the biggest automaker in the U.S., is expected to report earnings of 94 cents a share in the third quarter on revenue of $39.49 billion.
GM remains second in global auto sales with 7.25 million vehicles, behind Toyota (TM).
LinkedIn, the professional online network, earned 39 cents a share for the three months ended Oct. 30; analysts were expecting a profit of 32 cents a share.
LinkedIn reported sales of $393 million, surpassing an average forecast for $385 million.
7.-- Social network Twitter, which is preparing for an initial public offering as soon as next week,has added photo and video previewsto the feed of items that users see when they log onto the service from the Web or mobile applications,The New York Timesreported. In the past, Twitter users had to click on a link to see a photo or video. 8.-- Activist investor Nelson Peltz escalated the pressure on snack maker Mondelez (MDLZ) by accusing the company of doing too little to cut costs, The Wall Street Journal reported. Peltz said Mondelez could nearly double its per-share earnings if it did a better job managing its costs. "Execution is their challenge," he said at an investment conference in Chicago, the Journal reported.
Peltz previously proposed that PepsiCo spin off its beverage business and merge its snack business with Mondelez to create a $70 billion snack food giant, the Journal noted. 9.-- Honda (HMC) said quarterly profit rose 46% as higher car sales in the U.S. and motorcycle shipments to Asia offset costs from plant openings. Revenue rose 27% in the July-September quarter to 2.89 trillion yen ($29.4 billion). Net income was 120.3 billion yen ($1.2 billion). 10.-- The National Basketball Association kicked off its season Tuesday and in the featured game the Miami Heat, the defending NBA champion, beat the Chicago Bulls, 107-95. -- 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV