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Here are five things you must know for Wednesday, Sept. 6:
1. -- U.S. stock futures suggested Wall Street would rise slightly on Wednesday, Sept. 6, following a sharp selloff on Tuesday, Sept. 5, that was triggered by new developments in the North Korea-U.S. conflict.
The Dow Jones Industrial Average tumbled 1.07%, or 234 points, on Tuesday, while the S&P 500 fell 0.76% and the Nasdaq slid 0.93%. The Volatility Index, otherwise known as the fear index, spiked more than 38% on Tuesday, the largest daily increase since Aug. 10.
The threat of military action from North Korea increased over the weekend after the rogue nation successfully conducted its sixth nuclear test on Sunday, Sept. 3.
Wall Street also came under pressure from a number of big-industry deals. United Technologies Corp. was the worst performer on the Dow, falling 5.7% on Tuesday, after agreeing to buy airplane parts maker Rockwell Collins Inc. (COL) .
A story late Tuesday in the New York Post, citing sources, said Goldman Sachs Group Inc. was pitching aerospace giant Boeing Co. (BA) - Get Report to make a rival bid for airplane parts maker Rockwell Collins.
European and Asian stocks traded lower on Wednesday following the Wall Street selloff in the previous session.
The economic calendar in the U.S. on Wednesday includes International Trade for July at 8:30 a.m. ET, the ISM Non-Manufacturing Index for August at 10 a.m., and the Federal Reserve's "Beige Book" of economic conditions at 2 p.m.
2. -- The U.S. National Hurricane Center said Wednesday that Hurricane Irma is a "potentially catastrophic" storm that could bring winds of 185 mph to the coast of South Florida later this week as it gathers pace toward Puerto Rico and the U.S. Virgin Islands.
Irma's eye passed over the Caribbean island of Barbuda, about 1,300 miles southeast of Miami, early Wednesday. Irma could be only the fourth category 5 hurricane to hit the U.S. mainland since the early 1930s. The last category 5 storm -- Hurricane Andrew in 1992 -- caused about $50 billion in damage in 2017 dollar terms.
American Airlines Group Inc. (AAL) - Get Report and Southwest Airlines Co. (LUV) - Get Reportadded flights out of several Caribbean destinations on Tuesday ahead of the arrival of Hurricane Irma, Dallas News reported. The airlines also added flights on Wednesday to help travelers evacuate before the hurricane hits.
The National Football League said Tuesday the Miami Dolphins wouldn't be hosting their regular-season opener against the Tampa Bay Buccaneers at Hard Rock Stadium in Miami on Sunday due to the threat of Hurricane Irma. ESPN, citing league sources, reported the game likely will be rescheduled for Nov. 19, when both teams have a bye week.
3. -- Shares of Hewlett Packard Enterprise Inc. (HPE) - Get Report were rising 1.1% in premarket trading on Wednesday following fiscal third-quarter earnings and sales that were stronger than expected.
The technology solutions company posted adjusted earnings in the quarter of 30 cents a share on revenue of $8.21 billion. Wall Street was expecting profit of 26 cents a share on revenue of $7.5 billion.
"HPE had a good third quarter, right when they needed it," said Patrick Moorhead of Moor Insights & Strategy in a note. He cited double-digit growth in networking and storage, among other strong points during the quarter.
Sales of HPE's enterprise group, which contains servers and storage and accounts for the bulk of revenue, rose 3% to $6.8 billion. Server revenue dropped 1%, but storage gained 11%. Revenue from HPE's networking products gained 16% and the technology services business rose 1%.
The company said it expects fiscal fourth-quarter adjusted earnings of 26 cents to 30 cents a share, below analysts' forecasts of 40 cents.
- Hewlett Packard Enterprise Jumps After-Hours on Q3 Earnings Beat
- HP Enterprise's Earnings Were Encouraging, but It Still Has Much to Prove
4. -- Earnings reports are expected Wednesday from Francesca's Holdings Corp. (FRAN) - Get Report , Fred's Inc. (FRED) , G-III Apparel Group Ltd. (GIII) - Get Report and HD Supply Holdings Inc. (HDS) - Get Report .
5. -- Intel Corp.'s (INTC) - Get Reportfight against a €1.06 billion ($1.3 billion) EU antitrust fine is set to drag on after Europe's top judges told a lower court to re-examine the case, Reuters reported.
The judges said the lower court, known as the General Court, should focus on Intel's arguments that its rebates to customers weren't anti-competitive.
The ruling by the Court of Justice of the EU may force the European Commission to re-examine its tough line and economic approach in other antitrust cases such as against Qualcomm Inc. (QCOM) - Get Report and Alphabet Inc. (GOOGL) - Get Report unit Google, Reuters noted.
The stock rose slightly in premarket trading.
Updated from 6:08 a.m. ET.
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