Updated from 6:03 a.m.
Here are five things you must know for Wednesday, Dec. 28:
1. -- U.S. stock futures were rising moderately on Wednesday though thin trading volumes are expected during the short trading week. European stocks generally drifted higher, also on thin volume, after a four-day Christmas break. Asian stocks were mixed and not moving much.
Dow Jones Industrial Average
edged 0.06% higher
, the first trading day of the short week, closing at 19,945.04. The Dow is 55 points from 20,000, a milestone level that the index looks like it may be ready to surpass.
The S&P 500 bumped 0.22% higher to 2268.88 on Tuesday. The Nasdaq headed 0.45% higher to 5487.44.
The economic calendar in the U.S. on Wednesday includes the comparable-store sales Redbook at 8:55 a.m. and the pending home sales index at 10 a.m.
Global oil prices began the day lower, held down by both a strong U.S. dollar and anticipation of the Jan. 1 start date for the 1.8 million barrel-per-day OPEC production cuts. But WTI futures, the U.S. measure, for February delivery then moved 0.6% higher to $54.25 per barrel, while Brent crude for the same month also rose 0.4% to $56.52.
2. -- The U.S. government has accused three Chinese hackers of breaking into law firm databases and engaging in illegal insider trading.
Iat Hong, Bo Zheng and Chin Hung were charged in Manhattan federal court with making $4 million on insider trading after hacking into law firm servers to get nonpublic information on companies involved in mergers. The alleged incursions took place in 2014 and 2015, and were related to deals between Intermune (ITMN) and Roche; Intel (INTC) - Get Report and Altera; and Pitney Bowes (PBI) - Get Report and BorderFree.
The Securities and Exchange Commission has also filed suit against the three Chinese citizens, whom it said are employees of information technology companies.
More indictments for similar crimes are likely to be unveiled soon, authorities said.
3. -- Qualcomm (QCOM) - Get Reporthas been fined 1.03 trillion won ($853 million) by antitrust regulators in South Korea, who have said the U.S. tech company licensed its patents to mobile phone companies in an uncompetitive way. Samsung (SSNLF) , which is a major manufacturer of cell phones, is based in South Korea and may face lower fees if courts support the fine and alter the patent licensing business.
The charges suggest that Qualcomm may face more antitrust problems in licensing its patents, which provide the majority of the company's profits.
Qualcomm stock was lower by 0.89% in premarket trading.
4. -- Delta Air Lines (DAL) - Get Reporthas canceled an order for 18 Dreamliners from Boeing (BA) - Get Report which had been ordered by Northwest, an airline that Delta acquired in 2008. The airplanes have a $4 billion list price. Delta is continuing with its plans to buy 120 other aircraft from Boeing, however.
Delta shares were flat in premarket trading, while Boeing stock was sagging by 0.3%.
5. -- Toshiba (TOSYY) shares saw a record 20% decline after the company said Tuesday it would face a multi-billion write-down due to its U.S. nuclear operations, which are run by its CB&I Stone & Webster division, an unit of Westinghouse, which Toshiba purchased in December 2015.
The shares fell so far on Wednesday that trading was halted in Tokyo. The stock's fall erased $5 billion in shareholder value in just two days.