Here are five things you must know for Wednesday, Oct. 4:
1. -- U.S. stock futures suggested Wall Street would open lower on Wednesday, Oct. 4, as equities paused following their record-breaking run.
The three major U.S. benchmark stock indexes closed at all-time highs on Tuesday, Oct. 3. The Dow Jones Industrial Average gained 0.37%, the S&P 500 added 0.22%, and the Nasdaq gained 0.23%. The increases marked the Dow's second closing record in a row, the Nasdaq's third, and the S&P 500's fourth.
Investors on Wednesday will be monitoring the ADP National Employment Report for September, which comes two days before the official U.S. jobs report for last month. Economists surveyed by FactSet expect the ADP report to show that private payrolls rose 140,000 in September.
The ADP report will be released at 8:15 a.m. ET. The economic calendar also includes the PMI Services Index for September at 9:45 a.m., the ISM Non-Manufacturing Index for September at 10 a.m., and Oil Inventories for the week ended Sept. 29, at 10:30 a.m.
Wall Street also will be listening to remarks from Federal Reserve Chair Janet Yellen at the Community Banking in the 21st Century Conference in St. Louis at 3:15 p.m. Speculation has swirled lately on who Donald Trump will nominate to lead the central bank when Yellen's term ends early next year.
PepsiCo Inc. PEP posted third-quarter adjusted earnings of $1.48 a share, 5 cents ahead of estimates. Revenue in the quarter of $16.24 billion came up short. The beverage and snacks giant slashed its its full-year organic revenue growth outlook. The stock rose 0.4% in premarket trading on Wednesday.
If you'd like to receive the free "5 Things You Must Know" newsletter, please register here.
2. -- Yahoo Inc., which is now owned by Verizon Communications Inc. (VZ) - Get Verizon Communications Inc. Report , said on Tuesday that the massive data breach in August 2013 impacted all 3 billion of its users, tripling its earlier estimate of 1 billion.
"Verizon is committed to the highest standards of accountability and transparency, and we proactively work to ensure the safety and security of our users and networks in an evolving landscape of online threats," said Chandra McMahon, Verizon's chief information security officer. "Our investment in Yahoo is allowing that team to continue to take significant steps to enhance their security, as well as benefit from Verizon's experience and resources."
Yahoo first disclosed the breach, the largest in history, in December. Yahoo said Tuesday its findings indicated that compromised user information didn't include passwords in clear text, payment card data, or bank account information.
Because of the breach, Verizon shaved $350 million off the price tag for Yahoo's online operations.
Verizon spokesman David Samberg told the Associated Press the company has no regrets about buying Yahoo, despite the latest revelation.
3. -- As congressional lawmakers prepared to grill Equifax Inc. (EFX) - Get Equifax Inc. Report over its security breach, the Internal Revenue Service awarded the company a $7.25 million contract to prevent fraud.
A contract award for Equifax's data services to verify taxpayer identity and assist in identification verification and validations was posted on the Federal Business Opportunities database on Saturday, Sept. 30. Politico was first to report on the the contract, which was posted on the final day of fiscal 2017.
Considering the recent Equifax data breach that left at least 145 million Americans' information at risk, the idea of placing identity verification services in Equifax's hands may raise questions.
The contract was described as a "sole source order," or one that only the designated supplier can provide. The order was issued to prevent a lapse in identity checks while officials resolve a dispute over another contract. LexisNexis Risk Solutions and TransUnion are listed as interested vendors.
4. -- The board of Uber Technologies Inc. approved changes that left former CEO Travis Kalanick with less clout at the ride-sharing company, and rejiggered the ride-sharing company's corporate governance enough to make an investment palatable to Japan's SoftBank Group Corp (SFTBY) .
SoftBank is expected to invest between $1 billion and $1.2 billion at Uber's current valuation of about $70 billion.
Uber's 11 directors "approved some of the terms from a proposal put forward last week by Dara Khosrowshahi, Uber's new chief executive, and Goldman Sachs, the investment bank that is an investor in the privately held company," according to The New York Times.
The meeting led to a reduction in the influence of some Uber shareholders, including Kalanick, but the board also dropped a proposal that would have made it more difficult for Kalanick to regain his CEO position at some point in the future.
The directors also approved a resolution for the company to go public by 2019.
5. -- The European Commission has referred Ireland to the European Court of Justice for failing to collect a €13 billion ($15.3 billion) tax demand levied against Apple Inc. (AAPL) - Get Apple Inc. Report last year and ordered Amazon.com Inc. (AMZN) - Get Amazon.com, Inc. Report to pay €250 million in benefits to Luxembourg in the latest crackdown on the global operations of U.S. tech companies.
This story has been updated from 6:04 a.m. ET.
More of What's Trending on TheStreet:
- Uber's Board Reduces Kalanick's Clout, Backs SoftBank Investment
- Ford's Stock Will Probably Skyrocket After Revealing Some Mind-Blowing Cost Cuts
- Why Ford's CEO Is My New Favorite: Market Recon
- Europe Sues Ireland Over Apple Tax Bill; Orders Amazon Repay $300M to Luxembourg
Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York
Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
You can join them as they discuss how smart investors can make the most of options trading, futures contracts, fundamental and quantitative analysis and great ETFs to buy right now. Participants will also get a chance to meet Jim and other panelists and take photos.
When: Saturday, Oct. 28, 8 a.m.-3 p.m.
Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.
Cost: Special early bird price: $150 per person. (Normal price: $250)
Click here for the full conference agenda or to reserve your seat now.