) -- Here are 10 things you should know for Wednesday, July 3:


-- U.S. stock futures were trading lower Wednesday and oil prices jumped as Egyptian President Mohammed Morsi vowed not to resign despite the demands of millions of protesters.

Asian stocks ended the session to the downside. Japan's Nikkei 225 index lost 0.3%.

European shares declined amid renewed fears of a collapse of the government in Portugal following the resignations of key ministers.


-- The

economic calendar

in the U.S. Wednesday includes the ADP Employment Change index for June at 8:15 a.m. EDT, weekly initial jobless claims at 8:30 a.m., trade balance for May at 8:30 a.m. and the ISM Services index for June at 10 a.m.



U.S. stocks

on Tuesday declined as the

S&P 500

again failed to close beyond its 50-day moving average.

The index fell 0.1% to close at 1,614.08. The

Dow Jones Industrial Average

slumped 0.3%, finishing at 14,932.41, while the


was little changed for the session at 3,433.40.


-- U.S. stock markets will close at 1 p.m. on Wednesday. Bond markets have been recommended to close at 2 p.m.

U.S. markets will be closed on Thursday for the Independence Day holiday in the U.S.


-- Michael Dell has been advised to raise his $24.4 billion offer for PC-maker


(DELL) - Get Report

, the company he founded, as activist investor Carl Icahn said he has secured loans of $5.2 billion to pay for his alternative buyout plan for the company, a report said.

Dell's special committee told

Michael Dell

a few days ago that he should raise his offer if he wants it to succeed, a person familiar with the matter told



The special committee came to that conclusion based on its meetings with investors as well as concerns over a key upcoming recommendation by investment advisory firm ISS, the person told






(AAPL) - Get Report

hired Paul Deneve, former CEO of French fashion company

Yves Saint Laurent

, for "special projects" reporting to CEO Tim Cook.

"We're thrilled to welcome Paul Deneve to Apple," an Apple spokeswoman said. "He'll be working on special projects as a vice president reporting directly to Tim Cook."







, a mobile app for sharing music, photos and videos, for an undisclosed sum.

Yahoo! said Tuesday it will keep the Qwiki application running, and Qwiki's employees will join Yahoo! in its New York office.




$21.6 billion bid for


(S) - Get Report

has won the support it needs from the Federal Communications Commission, the last U.S. regulatory body reviewing the


, people familiar with the matter told






(TM) - Get Report

is recalling 185,000 vehicles globally, mostly in Japan and Europe, for a glitch in the power steering.

The recall covers 123,000 vehicles in Japan, and 46,000 vehicles in Europe, including the Yaris, all made between August 2010 and March 2012.



International Speedway

(ISCA) - Get Report

is expected by analysts to report on Wednesday second-quarter earnings of 50 cents a share.

-- Written by Joseph Woelfel

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Joseph Woelfel

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