NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Oct. 28:
1. -- U.S. stock futures were rising Tuesday as investors awaited a decision from the Federal Reserve on Wednesday about interest rates and quantitative easing.
European stocks rose. Asian shares ended the session mostly higher but Japan's Nikkei 225 index fell 0.4%.
2. -- The economic calendar in the U.S. on Tuesday includes durable goods orders for September at 8:30 a.m. EDT, the Case-Shiller 20-City Index for August at 9 a.m., and consumer confidence for October at 10 a.m. The Federal Reserve begins a two-day meeting. The central bank on Wednesday could confirm it's ending its bond buying program.
The S&P 500 closed down 0.15% at 1,961.63 while the Nasdaq and Dow Jones Industrial Average closed higher by 0.05% and 0.07%, respectively.
4. -- Twitter (TWTR) - Get Twitter, Inc. Report reported adjusted third-quarter earnings of 1 cent a share, matching forecasts, while revenue topped analysts' expectations. Twitter's user base rose 23% to 284 million monthly active users in the quarter, which Forrester Research analyst Nate Elliott said was "better than nothing."
"It's hard to be ecstatic about those numbers when it's still a user base under 300 million people," Elliott said. "It's a social property less than a quarter (of the) size of Facebook," Elliott told The Associated Press.
Twitter shares fell 12.3% to $42.60 in premarket trading on Tuesday.
5. --Social media giant Facebook (FB) - Get Facebook, Inc. Class A Report is expected by Wall Street on Tuesday to report a profit of 40 cents a share in the third quarter on revenue of $3.12 billion.
Facebook earned 17 cents a share in the same quarter a year earlier.
Wall Street was expecting earnings of 53 cents a share on revenue of $7.95 billion.
The company said it approved a plan to explore breaking into two publicly traded companies, saying the move would give shareholders the ability to more clearly evaluate each of the businesses and their prospects.
The entertainment unit hosts live events at the company's namesake Manhattan venue and at other sites including Radio City Musical Hall. The media and sports business owns teams including the New York Knicks and the New York Rangers plus regional sports networks MSG Network and MSG+.
The company said it didn't have a timetable for the spinoff.
9. -- UBS (UBS) - Get UBS Group AG Report , the Swiss banking giant, reported a third-quarter net profit of 762 million Swiss francs ($803 million), up 32% from a year earlier, but the results included $1.9 billion of legal provisions.
The bank said it saw solid returns from its investment banking and wealth management in the period.
UBS, however, warned of intensifying challenges and geopolitical issues, including new concerns such as the Ebola virus, and a mixed outlook for global growth.
10. -- Alibaba (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report is interested in partnering with Apple (AAPL) - Get Apple Inc. (AAPL) Report in financial payments, Alibaba Executive Chairman Jack Ma said at a Wall Street Journal conference on Monday.
"I hope we can do something together," Ma said, though he cautioned that it should be a "marriage" that both sides want.
Alibaba's Alipay has 300 million active users. Apple launched Apple Pay this month.
Apple CEO Tim Cook said at the Journal conference he is going to meet with Ma later this week to discuss potential partnerships, though he didn't specify whether the companies would work together in payments.
-- Written by Joseph Woelfel
To contact the writer of this article, click here:Joseph Woelfel
To submit a news tip, send an email to:firstname.lastname@example.org.
Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.