Here are five things you must know for Wednesday, Nov. 6:
1. -- Stock Futures Rise Slightly Amid Hiccup in Trade Negotiations
U.S. stock futures were turned slightly higher Wednesday, a day after the Dow Jones Industrial Average closed at a fresh record high, as markets paused to assess the latest development in the ongoing U.S.-China trade negotiations.
Contracts tied to the Dow Jones Industrial Average were up 12 points, futures for the S&P 500 gained 0.60 points, and Nasdaq futures rose 2.50 points.
Reports Tuesday said the United States was considering whether to remove existing tariffs on $112 billion of Chinese goods as a concession to seal the phase one" trade agreement between the world's two largest economies. However, there were no signs from Donald Trump that he would agree to the move.
Meanwhile, reports said Wednesday that China was seeking a firmer commitment from the U.S. on tariff relief.
"We see it fit to temper optimism for now," said Vishnu Varathan of Mizuho Bank.
The Dow finished up 30.52 points, or 0.11%, to 27,492.63, and the Nasdaq rose 0.02% to close at 8,434.68. The S&P 500 slipped 0.12% to 3,074.62.
2. -- CVS Health, Qualcomm, Roku and Square Report Earnings
CVS Health (CVS) - Get Report posted stronger-than-expected third-quarter earnings and lifted its full-year profit guidance as last year's acquisition of Aetna continues to support the company's surging revenue growth.
Reports are also expected Wednesday from Qualcomm (QCOM) - Get Report , Fitbit (FIT) - Get Report , Baidu (BIDU) - Get Report , Square (SQ) - Get Report , Roku (ROKU) - Get Report , New York Times (NYT) - Get Report , Marathon Oil (MRO) - Get Report , Expedia (EXPE) - Get Report , Fox Corp. (FOXA) - Get Report , Wendy's (WEN) - Get Report , Papa John's (PZZA) - Get Report , Overstock.com (OSTK) - Get Report , Wynn Resorts (WYNN) - Get Report and Barrick Gold (GOLD) - Get Report .
The economic calendar in the U.S. Wednesday includes Productivity and Costs for the third quarter at 8:30 a.m. ET, and Oil Inventories for the week ended Nov. 1 at 10:30 a.m.
New York Federal Reserve Bank President John Williams, Chicago Fed President Charles Evans and Philadelphia Fed President Patrick Harker have speaking engagements planned for Wednesday.
3. -- Xerox Reportedly Mulls Takeover of HP Inc.
The board of copier maker Xerox discussed the possibility Tuesday, people familiar with the matter told the Journal.
There is no guarantee Xerox will follow through with an offer, the Journal noted, or that one would succeed.
HP, which makes computers and printers, is more than three times the size of Xerox and any bid would be at a premium to its current stock price of $18.40, the people said. Xerox has a market cap of $8.05 billion.
Xerox shares fell 4% in premarket trading to $34.90. Shares of HP rose 9.24% to $20.10.
4. -- SoftBank Posts First Quarterly Loss in 14 Years
SoftBank (SFTBY) , the Japanese technology company, posted a second-quarter loss that included a steep writedown on its investment in office-sharing company WeWork.
SoftBank reported a loss for the quarter ended in September of 700 billion yen ($6.4 billion), down from a profit of 526 billion yen a year earlier.
It was the company's first quarterly loss in 14 years.
SoftBank wrote down the value of its investment in WeWork by about $3.4 billion in the second quarter.
"The perception is that SoftBank is being dragged down into the quagmire of WeWork," said SoftBank's founder Masayoshi Son. "I am looking back with true regret about the mistaken investment moves that I have made."
5. -- Weight Watchers Sinks as Net Income Drops 33%
WW International (WW) - Get Report fell 13.36% to $32.50 in premarket trading Wednesday after the operator of the Weight Watchers program said quarterly net income dropped nearly 33% on a 4.7% decline in revenue.
The company reported third-quarter earnings of $47.1 million, or 68 cents a share, compared with $70.1 million, or $1 a share, in the year-earlier quarter. Revenue fell to $348.6 million from $365.8 million.
Analysts surveyed by FactSet were expecting adjusted earnings of 66 cents a share on revenue of $352.7 million.
The company guided toward full-year earnings of between $1.63 to $1.75 a share, up from its previous estimate of $1.55 to $1.70. WW reiterated its estimate of full-year revenue of at least $1.4 billion.
Analysts surveyed by FactSet were calling for earnings of $1.69 a share on revenue $1.42 billion.
At the end of the quarter, WW had 4.4 million subscribers, up 5.7% from 4.2 million a year earlier.