Here are five things you must know for Thursday, Sept. 12:
1. -- Stock Futures Rise, Dow Aims for 7-Day Winning Streak, as Trade Tensions Ease
U.S. stock futures were rising Thursday after Donald Trump said the United States agreed to a two-week delay in a planned increase in tariffs on some Chinese imports, and as investors awaited a key policy statement from the European Central Bank.
The president, in a tweet late Wednesday, said he would offer a two-week delay on the imposition of tariffs on China-made goods as a "gesture of good will" toward Beijing as the two sides prepared for high-level trade talks in October. China said earlier this week it was exempting some U.S. goods from additional tariffs in a move that signaled potential thawing in the ongoing trade dispute between the world's two biggest economies.
Contracts tied to the Dow Jones Industrial Average gained 63 points, futures for the S&P 500 were up 4.75 points, and Nasdaq futures rose 28 points.
Stocks finished higher Wednesday, with the Dow marking a six-day winning streak, after China's conciliatory move on tariffs.
The ECB is expected to unveil a major stimulus package Thursday in Frankfurt that could include deeper negative interest rates and a restart of the bank's controversial quantitative easing program, which has been been dormant since December 2018.
The economic calendar in the U.S. on Thursday includes the Consumer Price Index for August at 8:30 a.m. Economists surveyed by FactSet expect inflation at the consumer level to have risen only 0.1% last month, with the core rate, which excludes food and energy costs, up 0.2%. Year-on-year CPI is expected to remain steady at 1.8%, with the core rate rising to 2.3% from 2.2%.
The calendar also includes weekly jobless claims at 8:30 a.m.
2. -- Oracle's Co-CEO Hurd to Take Leave of Absence
Oracle (ORCL - Get Report) fell 0.48% in premarket trading Thursday to $56.02 after the software giant posted fiscal first-quarter revenue that missed analysts' estimates and said co-CEO Mark Hurd was taking a medical leave of absence.
Adjusted earnings in the first quarter were 81 cents a share, in line with forecasts, but revenue of $9.2 billion came up shy of forecasts of $9.3 billion.
Hurd will be taking leave for an unspecified medical condition.
"Though we all worked hard together to close the first quarter, I've decided that I need to spend time focused on my health," Hurd wrote in a message distributed to Oracle employees. The board granted Hurd his request for a leave of absence, he said in a statement.
Oracle Executive Chairman Larry Ellison said that "Oracle has an extremely capable CEO in Safra Catz and an extraordinarily deep team of executives, many with long tenure at Oracle. Safra and I will cover Mark's responsibilities during his absence."
Oracle also said its board increased the authorization for share repurchases by $15 billion.
3. -- Purdue Pharma in Tentative Deal to Settle Opioid Lawsuits
Officials in 27 states and territories said they have reached a tentative settlement worth $10 billion to $12 billion with Purdue Pharma, the maker of the opioid OxyContin, for the company's part in the opioid crisis.
According to NBC News, which first reported the plans for the deal in August, the Sackler family would give up control of privately held Purdue. The company would then declare bankruptcy and be converted into a for-profit trust. The proceeds from the sale of drugs would go to the plaintiffs.
The plaintiffs in the case include 45 states and territories and more than 2,000 cities and counties.
However, NBC reported, at least 16 other state attorneys general who are suing the drug company said they haven't agreed to the tentative settlement.
Several attorneys general said the deal was a better way to settle the case than risk Purdue filing for bankruptcy on its own.
4. -- Groupon Is Pursuing an Acquisition and the Target Could Be Yelp - Report
Groupon (GRPN - Get Report) , under pressure from activist investors to boost its value, is pursuing an acquisition and the target could be Yelp (YELP - Get Report) , people familiar with the matter told The Wall Street Journal.
"It is reasonable to conclude that a relatively large acquisition by Groupon is forthcoming," Robert Chapman, founder of California investment firm Chapman Capital LLC, told the Journal. Chapman had been building a stake in Groupon, the daily deals site, in recent weeks.
Groupon and Yelp would be a logical tie-up and a combination would create a company with earnings before interest, taxes, depreciation and amortization of $900 million to $1 billion, the people told the Journal.
A takeover or merger could create synergies saving at least $200 million, the people said.
5. -- Walmart to Roll Out Grocery Delivery Service to 1,400 Stores
Customers will have the option of paying a yearly membership fee of $98 fee or a monthly $12.95 fee.
"We know this level of convenience resonates" with our customers, Tom Ward, senior vice president of digital operations at Walmart U.S., told the Associated Press. "If you need milk, bananas and birthday presents, this is a fantastic solution."
The world's largest retailer began a pilot program of the grocery delivery service earlier this year in four markets - Houston, Miami, Salt Lake City and Tampa. By the end of 2019, Walmart said, the service will be available in more than 1,600 stores and more than 50% of the country.