Here are 10 things you should know for Monday, Jan. 27:
1.-- U.S. stock futures were rising Monday, helped by an earnings beat from Caterpillar (CAT) and ahead of this week's Federal Reserve meeting.
European stocks were falling Monday. Asian shares closed sharply lower. Japan's Nikkei 225 dropped 2.5% to close at 15,005.73. The Shanghai Composite Index declined 1%.
2.-- The economic calendar in the U.S. Monday includes new-home sales for December at 10 a.m. EST.
3.-- U.S. stocks on Friday sold off sharply as evidence of a global economic slowdown prompted investors to plough money into safe-haven assets and flee the emerging markets.
The Dow Jones Industrial Average suffered a triple-digit drop for the second straight day, surrendering 3.52% for the week. That's its biggest weekly loss since May 2012. On Friday, the index fell 1.96%, or 318.24 points, to 15,879.11. The S&P 500 declined 2.09% to 1,790.29, sending the index down 2.63% for the week. The Nasdaq closed 2.15% lower at 4,128.17, down 1.65% for the week.
4.-- IPhone and iPad maker Apple (AAPL) is expected by Wall Street to report fiscal first-quarter earnings after Monday's closing bell of $14.07 a share on revenue of $57.46 billion.
Apple is releasing earnings just as billionaire investor Carl Icahn pressures the company to do something with its cash hoard.
He suggested in an open letter to Apple shareholders that the company should boost its stock repurchase program.
Icahn announced via Twitter last week that he bought another $500 million worth of Apple stock, raising his total to $3.6 billion.
Apple shares were up 0.85% to $550.70 in premarket trading Monday.
AT&T is now restricted from making a takeover bid for Vodafone for six months under U.K. takeover rules, according to The Wall Street Journal.
AT&T rose 0.83% to $33.70 in premarket trading. Vodafone fell 4%.
On its Web site, DeepMind describes itself as a "cutting edge artificial intelligence company. We combine the best techniques from machine learning and systems neuroscience to build powerful general-purpose learning algorithms.
Google rose 0.28% in premarket trading to $1,127. 7.-- Caterpillar (CAT) said Monday that fourth-quarter rose from a year earlier when results were weighed down by a large impairment charge.
The board of the world's largest maker of construction and mining equipment also approved a new $10 billion buyback, and provided a 2014 forecast above analysts' estimates. Shares climbed in premarket trading Monday, up 6.2% to $91.54. 8.-- Liberty Global (LBTYA), John Malone's cable company, said Monday will buy the 71.5% of Dutch cable provider Ziggo it doesn't already own for around 10 billion euros ($13.7 billion) in stock and cash.
Liberty Global shares slipped 1.1% to $82.35.
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