Here are 10 things you should know for Tuesday, May 10:
1. -- U.S. stock futures were rising Monday as oil prices rebounded and China's Cabinet approved measures to boost exports.
European stocks gained and Asian shares ended the session higher. Japan's Nikkei 225 index rose 2.2% while the Shanghai Composite inched up 0.02%.
Oil prices in the U.S. rose almost 1% early Tuesday to $43.86 a barrel.
2. -- The economic calendar in the U.S. Tuesday includes the Job Openings and Labor Turnover Survey for March at 10 a.m. EDT, and Wholesale Inventories for March at 10 a.m.
3. -- U.S. stocks on Monday ended mixed after signs of progress in fighting a massive wildfire in Canada put a stop to a rally in crude oil.
Credit Suisse reported a net loss of Sfr302 million ($310.8 million) compared with a profit of Sfr1.05 billion a year earlier as the bank's restructuring global markets division plunged deep into the red and its investment banking and capital markets unit also posted a loss.
Thiam said January and February were "some of the most difficult markets on record with volumes and client activity drastically reduced." Despite a subsequent tentative pickup, he foresees "subdued market conditions" continuing through the second quarter and beyond.
Losses in global markets and investment banking were partly offset by rising sales and earnings in wealth management, which, like several lenders, Credit Suisse is making a major focus. Within investment banking one bright spot was M&A advisory, where revenue more than doubled year-on-year.
5. -- Medivation MDVN will actively seek to sell itself after the cancer drugmaker rejected a $9.3 billion takeover offer from France's Sanofi(SNY) - Get Report , Reuters reported, citing people familiar with the situation.
The move comes less than two weeks after Sanofi made its approach public by publishing a letter to Medivation's CEO David Hung that contained details of the offer.
There is no certainty that either Pfizer or Amgen will press ahead with bids for Medivation, the people told Reuters.
6. -- William Ackman, the billionaire founder of the hedge fund Pershing Square Capital Management, is paring back a stake in a health care company Zoetis(ZTS) - Get Report , according to The New York Times.
Pershing on Monday set out to sell 16.85 million shares in Zoetis, the former animal health arm of Pfizer, for a price of between $46.75 to $47 a share, the Times reported, citing two people with direct knowledge of the deal
The transaction is expected to be valued around $800 million. Pershing will continue to own 25 million shares in the company, the Times reported.
The hedge fund paid $1.5 billion for an 8.5% stake in Zoetis in November 2014, according a filing with the Securities and Exchange Commission. The stock has since gained 8.6%.
While same-store sales were down for all three banners of Gap, Banana Republic and Old Navy, Gap saw the smallest decline in the first quarter, 3%, while Banana Republic was down 11% and Old Navy saw same-store sales fall 6%.
Because of the poor results, Gap said it is weighing options for both the Banana Republic and Old Navy businesses largely outside of the U.S. to focus on the markets with the most potential.
Gap shares fell 13.5% in premarket trading on Tuesday.
The company, which in January completed its takeover of France's Alcatel-Lucent, said revenue declined by 9% to €5.6 billion ($6.38 billion). Consensus expectations had pointed to quarterly revenue of at least €5.7 billion
Attributing the revenue shortfall to mobile networks, Nokia reiterated that it sees "some market headwinds" in that business in 2016.
Nokia's networks division, its largest division, posted an 8% decline in quarterly sales to €5.18 billion.
Nokia President and CEO Rajeev Suri said the integration of Alcatel-Lucent is going well and it now sees operating cost savings of more than the "approximately €900 million" it had previously predicted it would achieve by 2018.
The difference is that Mack, a LendingClub board member, didn't know the company was weighing an investment in Cirrix Capital, and so wasn't expected to disclose his holding, Bloomberg reported, citing people with knowledge of the situation. Laplanche presented the idea of having LendingClub invest in the venture to the board's risk committee, while failing to disclose his personal stake, the people said.
Laplanche resigned Friday after an internal review faulted him for not informing the committee of his and Mack's investment, one of the people said. The investigation also found that LendingClub sold $22 million of loans to Jefferies Group that didn't meet the investment bank's criteria for purchase, another person said. The SEC's enforcement unit also is reviewing LendingClub, people familiar with the matter told Bloomberg.