NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Nov. 12:
1. U.S. stock futures were pointing to a lower open Friday after the Dow Jones Industrial Average reached a record high Thursday bolstered by a larger-than-expected decline in U.S. jobless claims.
The Dow on Thursday added 0.75% to 16,479.76, a record closing-high while capping its strongest six-day run since August 2010. The S&P 500
2. European stocks were gaining Friday as the Stoxx Europe 600 Index was rising for a sixth day. The Stoxx 600 was 0.7% higher to 326.35 at 11:24 a.m. in London. European stocks on Dec. 24 completed their biggest five-day rally since July.
3. The European Central Bank and the Bank of England said Friday that they plan to leave interest rates near record lows for a prolonged period.
4. The dollar was weakening against all but two of its 16 major currency peers while West Texas Intermediate oil was rising to within 0.3 percent of $100 a barrel.
5. U.S. Treasury bonds fell Thursday, pushing the yield on 10-year notes to 3%, a threshold that may signal a new baseline for higher interest rates that could send ripples through the U.S. economy and global financial markets, according to the Wall Street Journal.
6. In Shanghai, General Motors (GM) and its Chinese partner SAIC Motor said they will recall more than 1.46 million Buick and Chevrolet cars due to defective fuel-pump brackets, the Wall Street Journal reported citing China's quality watchdog said Friday. The affected cars were mainly produced between 2006 and 2011. The recall will begin on Dec. 30.
7. Textron (TXT) agreed to pay $1.4 billion to acquire Beechcraft, a deal that would combine the small U.S. plane maker into a conglomerate that also produces Cessna planes and Bell helicopters.
8. McDonald's (MCD) took down its "McResource" website, an informational and budget-assistance website for employees after a group, Low Pay Is Not OK, has criticized the site, claiming it encouraged employees to do things like break their food into pieces in an effort to stretch their budgets. McDonald's denied the charge, the Wall Street Journal reported.
9. According to Reuters sources, Japan's SoftBank is contemplating a possible acquisition of T-Mobile (TMUS) while Twitter (TWTR) continued its week-long rally, adding 4.8% to $73.71, a record high since floating in early November.
10. Despite fears retailers were in for a rough holiday season, MasterCard Advisors reports holiday sales rose 2.3% from Nov. 1 to Dec. 24. over the year-ago period. Retail names such as J.C. Penney (JCP), Macy's (M) and Target (TGT) gained on the data, adding 2.5%, 0.23% and 1.3%, respectively on Thursday.
--Written by Leon Lazaroff in New York.
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