Updated from 6:53 a.m. EDT.

NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, March 11:

1. -- U.S. stock futures were headed upward Wednesday after an ugly trading day Tuesday took the major averages down more than 1.5%.

European stocks were higher Wednesday, recovering some of Tuesday's losses, on renewed optimism that the euro's fall will boost growth and halt a slide into deflation.

2. -- The economic calendar in the U.S. on Wednesday includes the Mortgage Bankers' Association purchase applications index, which looks at loan application data, released at 7 a.m. The Energy Information Administration's U.S. petroleum inventory report appears at 10:30 a.m.

3. -- U.S. stocks on Tuesday closed at a one-month low as investors fretted over the timing of the Federal Reserve's interest rate increase.

The Dow Jones Industrial Average (DIA) - Get Report plummeted 1.85% to 17,662.94. The S&P 500 (SPY) - Get Report closed down 1.7% to 2,044.16. The Nasdaq (QQQ) - Get Report dropped 1.67% to 4,859.80.

4. -- The stronger banks to pass the Federal Reserve's stress tests have plenty of room to boost shareholder payouts, according to analysts surveyed by Bloomberg.

Citigroup (C) - Get Report, which failed last year's stress test, is expected to boost its dividend and stock buybacks. (With a dividend of 1 cent, Citi shouldn't struggle too much to increase the dividend.) Wells Fargo (WFC) - Get Report and JPMorgan Chase (JPM) - Get Report are expected to make the largest dividend and buyback payouts of the 25 tested banks.

Citi stock was up 0.62% in premarket trading. Wells Fargo stock was trending up 0.49%. J.P. Morgan stock was up 0.57%.

5. -- Google's (GOOG) - Get Report (GOOGL) - Get ReportChief Financial Officer Patrick Pichette announced his upcoming retirement at age 52. Pichette has defended Google against analyst demands that the company focus on tangible products instead of expensive "moonshots." The impact on Google is still being debated among investors.

In premarket trading, Google's GOOGL share class was up 0.49%.

6. -- Data on the U.S. oil stockpile will be released today at 10:30 a.m. by the U.S. Energy Information Administration. Recent reports have shown a large surplus in oil inventories, although Tuesday's American Petroleum Institute data recorded a decline in the surplus.

Crude oil futures are skittish ahead of the EIA report.

7. -- China's economy is slowing, according to data on investment, factory output and retail sales. On an absolute level, the numbers are still strong -- industrial output is up 6.8% and retail sales rose 10.7% -- but those numbers are less than forecasts expected and are smaller than the historic trend.

China will likely respond to deflationary price pressures with interest rate cuts and other measures.

8. -- Chinese online retailer Alibaba  (BABA) - Get Report may show big moves in its stock next week, as 437 million of its shares will become available to trade on March 18. Then the company's post-IPO stock lockup will expire for about 18% of outstanding shares in the company. About 100 million of those shares will still face some trading restrictions, as they're owned by employees.

Alibaba shares were up 0.27% in premarket trading.

9. -- Bain Capitalis buyingBlue Coat Systems for $2.4 billion in cash. Blue Coat sells security software to 80% of the companies in the Fortune 500, it says.

Bain may be looking to take the company public again. Blue Coat was a public company before being bought out byThoma Bravo for $1.3 billion in 2012.

10. -- The euro is at 12-year lows against a strong dollar. The dollar has been rallying since July 2014. Since that time, the euro has lost 25% of its value relative to the dollar. The European Central Bank's stimulus will likely continue the trend in the hopes of boosting the economy.

On Tuesday, Deutsche Bank analysts said they expect the euro to fall to 85 U.S. cents by the end of 2017. In trading, the euro hit a low of $1.064 early Wednesday.