) -- Here are 10 things you should know for Friday, June 14:



U.S. stock futures

were pointing to a lower open on Wall Street as investors paused ahead of a handful of economic releases Friday and anticipated the

Federal Reserve's

policy announcement next Wednesday.


-- The

economic calendar

in the U.S. Friday includes the Producer Price Index for May at 8:30 a.m. EDT, industrial production and capacity utilization for May at 9:15 a.m., and the University of Michigan sentiment index for June at 9:55 a.m.



Major U.S. stock markets

rose Thursday on better-than-expected consumer spending and labor market reports which offset concern the

Federal Reserve

may curb its monetary stimulus program.


S&P 500

advanced 1.5% to close 1,636.36, its second-biggest daily gain in 2013. The

Dow Jones Industrial Average

gained 1.21% to 15,176.08 while the


added 1.32% to 3,445.37.


-- President Obama authorized lethal aid to Syrian rebels fighting Syrian President Bashar al-Assad, U.S. officials said Thursday.

The move marks a major policy shift and a deepening of U.S. involvement in the two-year civil war, and it comes after the White House confirmed it had evidence that Assad's regime used chemical weapons against opposition forces.



Smithfield Foods


is expected by Wall Street to report on Friday fourth-quarter earnings of 43 cents a share on revenue of $3.27 billion.

Smithfield announced in late May it reached a deal to be acquired by China's


for $4.7 billion.


-- Institutional Shareholder Services, the proxy advisory firm, urged

TST Recommends



shareholders on Thursday to vote against


(S) - Get Report

offer of $3.40 a share for Clearwire shares it doesn't already own.

A day earlier, Clearwire's board recommended that shareholders approve a buyout offer from

Dish Network

(DISH) - Get Report

, reversing its earlier stance to support Sprint's takeover bid.



Smith & Wesson


, the guns maker, said it expects fiscal fourth-quarter earnings of 44 cents a share, above Wall Street estimates of 40 cents a share.

The company said its fourth-quarter sales would rise 38% from a year earlier to $179 million.


-- The


A350 passenger jet took off on its maiden flight Friday, setting the stage for increased competition with rival


(BA) - Get Report

in the marker for long-haul wide-body aircraft.


-- Rupert Murdoch, CEO of

News Corp.

(NWSA) - Get Report

, filed for divorce from Wendi Deng Murdoch, his wife of 14 years, citing a breakdown in the relationship.

The divorce filing isn't likely to alter the Murdoch family's control of the media conglomerate, according to reports.


-- The first round of the U.S. Open was suspended Thursday evening because of heavy rains. Play will resume Friday morning, with the afternoon groups completing their first rounds.

Luke Donald is the leader after the first day, though he completed only 13 holes.He will finish the last five holes of his first round on Friday morning and then begin his second round later in the afternoon.

-- Written by Joseph Woelfel

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Joseph Woelfel

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