Here are five things you must know for Wednesday, Sept. 12:
1. -- U.S. Stocks Seen Higher, Asia Trades at 14-Month Low
U.S. stock futures rose on Wednesday, Sept. 12, but global stocks struggled for momentum as investors were having a hard time seeing any meaningful conclusion to the U.S.-China trade war, a major risk factor that has hung over markets for several months.
Stocks in Asia traded at their lowest levels since July 2017 as the MSCI ex-Japan index fell 0.36%, led once again by weakness in China, and Japan's Nikkei 225 declined 0.27%.
Contracts tied to the Dow Jones Industrial Average
Tech shares were getting an early boost from Apple Inc. (AAPL , which was rising a modest 0.6% in anticipation of the company's annual product event on Wednesday at its campus in Cupertino, Calif.
TheStreet will be live-blogging Apple's latest iPhone unveiling event on Wednesday at 1 p.m. ET. Please check TheStreet's home page for more details.
The economic calendar in the U.S. on Wednesday includes the Producer Price Index for August at 8:30 a.m. ET, and the Federal Reserve's "Beige Book" at 2 p.m.
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2. -- Apple's Big iPhone Event Is Wednesday
Apple's big event on Wednesday could include the introduction of new iPhones with fresh options in screen size, colors and one device at a lower-price point that could open up the product to more consumers, according to recent rumors.
The event also could include announcements or hints of some of Apple's other initiatives, such as augmented reality, Apple's long-rumored video streaming service or even an Apple Glasses device. Adding fuel to rumors of an augmented reality glasses product, Apple bought a startup last week called Akonia Holographics, which makes "smart glass lenses."
3. -- FCC Pauses Review of T-Mobile and Sprint Merger
The Federal Communications Commission paused its review of T-Mobile US Inc.'s (TMUS proposed $26.5 billion takeover of Sprint Corp. (S , saying it needed more time to examine information provided by the telecom giants.
The FCC, which began its informal 180-day review of the merger about two months ago, told the companies that a "substantially revised" network engineering study submitted last week was "significantly larger and more complex than the engineering submissions already in the record."
For their part, the companies said the "additional review time is common to FCC merger reviews," adding that "we are confident that this transaction is pro-competitive, good for the country and good for American consumers, and we look forward to continuing to work with the FCC as they evaluate our plans."
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4. -- Verizon to Launch 5G Service Starting Oct. 1
Verizon Communications Inc. (VZ will begin offering 5G broadband internet service in four U.S. cities beginning on Oct. 1.
Verizon has dubbed the service "5G Home." Verizon's wireless subscribers in Houston, Indianapolis, Los Angeles, and Sacramento, Calif. will pay $50 a month for the 5G internet and TV service. Online ordering begins Thursday, Sept. 13.
The service will have typical speeds of 300 Mbps and peak speeds of nearly 1 Gbps, depending upon location.
5. -- NIO Prices at Low End of Target Range
Shares of Chinese electric vehicle maker NIO Inc. were priced at $6.26 a share, just above the lower end of its target price range of $6.25 to $8.25 a share.
The price will value the carmaker at about $6.4 billion. NIO had initially hoped for a valuation of as much as $20 billion, though it had cut that ambitious goal to $8.5 billion by August when it filed preliminary documents for the share sale.
The stock will begin trading on Wednesday on the New York Stock Exchange under ticker symbol "NIO."
Enthusiasm for the U.S. initial public offering have been tempered by the trade conflict between the U.S. and China, by growing competition from local and international carmakers and by production woes experienced by market leader Tesla Inc. (TSLA .
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