Here are five things you must know for Thursday, Jan. 11:
1. -- Stocks Rebound as Bonds Steady
U.S. stock futures traded slightly higher on Thursday, Jan. 11, as a rebound for bond yields offset trade tensions linked to Donald Trump's warning on NAFTA membership for the U.S.
The S&P 500 and Nasdaq snapped six-day winning streaks on Wednesday, Jan. 10, on concerns over the rapid rise in U.S. Treasury bond yields and suggestions from Trump that he was prepared to exit the North American Free Trade Agreement if it wasn't comprehensively re-negotiated.
Global bond markets, meanwhile, steadied on Thursday, after officials in China dismissed a report that suggested it could slow or even halt its future purchases of U.S. government debt as "fake news."
Stocks recorded their first down day of the year on Wednesday, after all three major indices closed the day in the red.
The Dow Jones Industrial Average fell 16.6 points, or 0.07%, to close at 25,369.13 after trading lower for much of Wednesday's session. The S&P 500 declined 0.11% to 2,748.23 and the Nasdaq fell 0.14% to 7,153.57.
The economic calendar in the U.S. on Thursday includes the Producer Price Index for December at 8:30 a.m. ET, and weekly Jobless Claims at 8:30 a.m.
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2. -- Xerox Holdings Deal Talks With Fujifilm
Xerox Corp. (XRX) - Get Report is discussing an array of deals with Japan's Fujifilm Holdings Corp. that may or may not include a change of control of Xerox, The Wall Street Journal reported, citing people familiar with the matter. A full takeover of Xerox, the document company, isn't on the table, one of the people said.
No deal appears imminent and one may not be reached, the Journal added.
Xerox has struggled because of the drop-off in demand for office printing, and a deal would give both Xerox and Fujifilm a chance to root out costs and make their legacy businesses more efficient, some of the people told the Journal.
Xerox has a market value of about $7.7 billion, while Fujifilm's stands at about $22 billion.
Shares of Xerox jumped 7.1% in premarket trading on Thursday to $32.51.
3. -- Bitcoin Drops as South Korea Plans Bill to Close Crypto Exchanges
Bitcoin prices fell to the lowest levels since the start of the year on Thursday after officials in South Korea said they were preparing a bill that would shut down cryptocurrency exchanges in one of the world's biggest markets.
Justice Minister Park Sang-ki told reporters of the plans on Thursday in Seoul, although it's not clear if they were supported by the government nor if they would be passed by the country's parliament, although similar proposals were first revealed in late December. South Korea is the world's third-largest cryptocurrency market, behind China and Japan, and home to the Coinone and Bithumb platforms.
"There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Park said.
Bitcoin prices fell to as low as $12,800 before rebounding to trade around $13,580 early Thursday.
4. -- Tech Execs Call for DACA Legislation
Tech executives, including the CEOs of Apple Inc. (AAPL) - Get Report , Facebook Inc. (FB) - Get Report , Amazon.com Inc. (AMZN) - Get Report and Alphabet Inc.'s (GOOGL) - Get Report Google, joined more than 100 American business leaders in signing an open letter asking Congress to take action on the Deferred Action for Childhood Arrivals program before it expires on March 5, TechCrunch reported.
The tech chiefs are among the executives who want Congress to pass legislation ensuring that Dreamers, or undocumented immigrants who arrived in the U.S. as children and were granted approval by the program, can continue to live and work in the country without risk of deportation.
Failure to pass legislation will not only result in upheaval, but also could cost the U.S. economy $215 billion, they said.
5. -- Delta Earnings on Tap
The airline said it expects first-quarter profit of 60 cents to 80 cents a share with revenue gaining 2.5% to 4.5%.
The stock jumped 3.5% in premarket trading.
This article has been updated to include earnings from Delta.
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