Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, March 27:

1. -- U.S. stock futures were pointing to a pullback on Wall Street Wednesday after the S&P 500 climbed near its record during the prior session.

European stocks were falling slightly. Cyprus is expected to introduce capital controls when the country's banks reopen on Thursday.

Shares in Japan and Hong Kong finished with gains on Wednesday.

2. -- The economic calendar in the U.S. Wednesday includes pending home sales for February at 10 a.m. EDT.

3. -- U.S. stocks on Tuesday rose, with the S&P 500 closing less than 2 points from its all-time high, after a jump in U.S. durable goods orders and home prices bolstered the outlook for the world's largest economy.

The S&P 500 rose 0.8% to 1,563.77.

The Dow Jones Industrial Average increased 0.77% to 14,559.65. The Nasdaq climbed 0.53% to 3,252.48.

4. -- Wal-Mart ( WMT), in a regulatory filing, said it's now "probable" the world's largest retailer will record losses related to allegations that company representatives bribed officials in Mexico to speed up expansion in the country.

Wal-Mart said the issue in Mexico wouldn't have a material effect on its business, Reuters reported.

5. -- Ericsson ( ERIC) is in talks to buy Microsoft's ( MSFT) IPTV business, which makes software used by phone companies to deliver television over the Internet, people with knowledge of the matter told Bloomberg.

6. -- PVH ( PVH), the clothing maker, is expected by Wall Street on Wednesday to report earnings of $1.50 a share on fourth-quarter sales of $1.6 billion.

7. -- Software maker Red Hat ( RHT) is expected by analysts on Wednesday to post earnings of 30 cents a share in the fiscal fourth quarter on revenue of $349.6 million.

8. -- U.S. prosecutors are examining whether JPMorgan Chase ( JPM) failed to fully alert authorities to suspicions about Bernard Madoff, The New York Times reported, citing several people with direct knowledge of the matter.

9. -- Paychex ( PAYX), the payroll processor, is expected to report third-quarter earnings of 39 cents a share on revenue of $592.6 million.

10. -- One person was killed and trains were halted after an earthquake with a magnitude of at least 6.1 struck Taiwan on Wednesday.

-- Written by Joseph Woelfel

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