Here are 10 things you should know for Thursday, Dec. 12:
1.-- U.S. stock futures were pointing higher Thursday, following the stock market's biggest loss in five weeks on Wednesday.
European shares were trading flat to lower; Asian stocks ended Thursday's session with losses on continued fears the Federal Reserve will trim monetary stimulus for the U.S. economy as early as next week. Japan's Nikkei 225 index declined 1.1%.
2.-- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EST, retail sales for November at 8:30 a.m., export and import prices for November at 8:30 a.m., and business inventories for October at 10 a.m.
3.-- U.S. stocks on Wednesday fell amid growing speculation the Federal Reserve will curb its stimulus program after an apparent political deal on the U.S. budget alleviated concerns about another government shutdown.
The S&P 500 fell 1.13% to close at 1,782.22 while the Dow Jones Industrial Average declined 0.81% to 15,843.53. The Nasdaq slipped 1.4% to 4,003.81.
4.-- House Republicans rallied behind a modest, two-year budget deal, planning to bring it to a vote Thursday.
The measure seemed sure to pass, despite unhappiness from House Democrats who were cut out of the talks and also upset that it didn't contain a provision to renew jobless benefits for the long-term unemployed.
The deal House Budget Committee Chairman Paul Ryan, R-Wis., negotiated with Senate Budget Committee Chairwoman Patty Murray, D-Wash., would preserve the bulk of tough agency spending cuts the GOP won in a 2011 showdown with President Obama, while greatly reducing the chances of another partial government shutdown.
Fischer led the Bank of Israel for eight years until he stepped down in June. He has dual citizenship in the U.S. and Israel.
Fischer, 70, is widely respected as one of the world's top monetary economists, according to a report from Reuters. At the Massachusetts Institute of Technology, he once taught current Fed Chairman Ben Bernanke and Mario Draghi, the president of the European Central Bank, Reuters noted. 7.-- Hilton Worldwide's initial public offering was priced at $20 a share, in what is poised to be the biggest-ever U.S. hotel IPO. Earlier this month, Hilton set its initial IPO price range at between $18 and $21 a share. While Hilton will offer its stock just below the high end of that range, the hotel chain increased the offering size. Hilton will sell 117.6 million common shares at $20 a share, raising $2.35 million. The company will be offering 64.1 million shares, while a selling stockholder will offer 53.5 million shares, Hilton said in a filing with the Securities and Exchange Commission.
Blackstone Group (BX) will remain Hilton's majority owners after the IPO. 8.-- Facebook (FB) shares soared in after-hours trading on Wednesday, gaining 4.4% to $51.56, after it was announced the social networking giant would be added to the S&P 500 on Dec. 20.
Facebook also is being added to the S&P 100 index. 9.-- Home Depot (HD) is building out the capability to offer same-day shipping and delivery, the Journal reported. The retailer plans to spend at least $300 million on supply chain, technology and online improvements in the fiscal year that begins in February, including building new fulfillment centers and overhauling its warehouse technology systems, the Journal said. The moves are aimed at boosting online sales, including a same-day delivery service aimed at customers and professional contractors. 10.-- Software maker Adobe (ADBE) and Lululemon (LULU), the yoga and apparel maker, are scheduled to report quarterly earnings on Thursday.
-- 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