Here are five things you must know for Wednesday, Jan. 17:
1. -- Wall Street Rebound
U.S. stock futures were rising Wednesday, Jan. 17, suggesting Wall Street would rebound from the previous session when the Dow Jones Industrial Average broke through 26,000 for the first time but ended the day with a small loss.
The S&P 500 and Nasdaq also finished lower on Tuesday, Jan. 16, though all three major stock indexes did reach intraday record highs.
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Investors will be prepping Wednesday for a busy earnings slate that includes fourth-quarter earnings from Bank of America Corp. (BAC) - Get Report , Goldman Sachs Group Inc. (GS) - Get Report and U.S. Bancorp (USB) - Get Report .
Bank of America reported fourth-quarter adjusted earnings of 47 cents a share, 2 cents ahead of estimates. The stock rose 0.2% in premarket trading.
Goldman Sachs posted fourth-quarter adjusted profit of $5.68 a share, topping forecasts of $4.92. Goldman shares were flat in premarket trading.
The economic calendar in the U.S. on Wednesday includes Industrial Production for December at 9:15 a.m. ET, and the Federal Reserve's "Beige Book" at 2 p.m.
European stocks traded mixed early Wednesday, with the Stoxx 600 turning higher by 0.06%. Asian shares closed mixed on Wednesday.
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2. -- Celgene in Talks to Buy Juno
Shares of Juno Therapeutics Inc. (JUNO) jumped 54% in premarket trading on Wednesday following a report in The Wall Street Journal that said Celgene Corp. (CELG) - Get Report was in discussions to acquire the biotech company.
Talks could result in a deal in the coming weeks, the Journal reported.
Juno shares were indicated to open Wednesday at $70.10 after finishing at $45.60, down 6.46%, in the previous session.
Seattle-based Juno focuses on cellular immunotherapies to treat cancer. Summit, N.J.-based Celgene focuses on therapies for the treatment of cancer and inflammatory diseases.
Celgene and Juno are no strangers. The companies in 2015 signed a 10-year collaboration to develop and commercialize immunotherapies for the treatment of cancer and autoimmune diseases.
3. -- Ford Issues Disappointing Guidance
Shares of Ford Motor Co. (F) - Get Report fell 3.8% in premarket trading Wednesday after the automaker said it expects lower operating profit in 2018, reflecting higher commodity costs and adverse exchange rates which offset cost-cutting actions the company is taking.
For 2018, Ford guided to adjusted earnings of $1.45 to $1.70 a share.
The company also said Tuesday that earnings for 2017 would come in at $1.95 a share, an increase of 80 cents from a year earlier, with adjusted profit of $1.78.
Ford said it will expand its electrified vehicle lineup with a total of 40 vehicles globally, which will include 16 full battery electric vehicles by 2022. The company reiterated plans to invest more than $11 billion in electrification from 2015 to 2022.
4. -- Infiniti to Go 'All Electric'
Infiniti, the luxury brand of Japanese automaker Nissan Motor Co. (NSANY) , will begin phasing out gas-powered vehicles in 2021 and switch to "all electrified" models, CEO Hiroto Saikawa said Tuesday at the Automotive News World Congress in Detroit.
"Infiniti will have a specific focus on electrification," said Saikawa, adding, "We are trying to position Infiniti as the premier electrified brand" as part of the five-year Nissan business plan that will extend through 2022.
5. -- Another Plunge for Bitcoin
Bitcoin prices extended their recent plunge on Wednesday, taking the world's best-known cryptocurrency to $10,620, down $777 on the day, according to the bitstamp exchange, which feeds into the CME Group futures contract. Bitcoin's 24-hour low was about $10,000.
Digital currencies around the world have been under increasing pressure of late amid moves by regulators and officials in the biggest trading markets -- including China and South Korea -- to clamp down on what they consider "excessive speculation."
South Korea's finance minister said Tuesday that banning trading in digital currencies was "a live option." He said the decision was subject to a thorough government review.
"There are no disagreements over regulating speculation," such as using real-name accounts and levying taxes on cryptocurrency trading, Kim Dong-yeon said. Shutting down digital currency exchanges is "a live option but government ministries need to very seriously review it," he said.
This article has been updated to include earnings from Goldman Sachs.
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