Morning Briefing: 10 Things You Should Know

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

1. -- U.S. stock futures were pointing to a third day of gains for the S&P 500 ahead of the release of minutes from the Federal Reserve's March monetary policy and President Barack Obama's unveiling of a $3.8 trillion budget proposal.

The president's proposal being unveiled Wednesday includes an additional $1.8 trillion in deficit reduction over the next decade, bringing total deficit savings to $4.3 trillion, based on the administration's calculations.

European and Asian stocks posted gains on Wednesday. Japan's Nikkei 225 index rose 0.7% to close at 13,288.13, its highest close in nearly five years.


2. -- The economic calendar in the U.S. Wednesday includes the release of the minutes from the March 20 meeting of the Federal Open Market Committee.

The report from the Federal Reserve's policy-making arm will be released at 2 p.m. EDT.


3. -- U.S. stocks on Tuesday rose, and the Dow Jones Industrial Average posted a new closing high on prospects companies will post first-quarter earnings that meet or beat expectations.

The S&P 500 rose 0.35% to close at 1,568.61.

The Dow added 0.41% to close at 14,673.46, a record closing high for the blue-chip index. The Nasdaq gained 0.48% to 3,237.86.


4. -- Yahoo! ( YHOO) and Apple ( AAPL) have been discussing how more of Yahoo!'s services can play a prominent role on Apple's iPhone and iPad devices, people briefed on the matter told The Wall Street Journal.

The companies are discussing new arrangements , including possible deals to get more content from Yahoo News and its other Web properties loaded onto Apple devices or available through an expanded Siri partnership, one of the people told the newspaper.


5. -- KPMG resigned as the auditor for Herbalife ( HLK) and Skechers ( SKX) after a rogue partner allegedly leaked information about the companies to someone who used it to trade stocks.

KPMG said it fired the partner, Scott London, and has no reason to believe there were any problems with the financial reports of Herbalife or Skechers.


6. -- Health Management Associates ( HMA), the hospital operator, forecast first-quarter results below analysts' expectations and reduced its outlook for 2013 as admissions fell at its hospitals.


7. -- Oil giant Chevron ( CVX) is expected to issue its first-quarter interim update on Wednesday at 5 p.m. EDT.


8. -- Home builder Taylor Morrison said it raised $628.6 million in its initial public offering.

Taylor Morrison sold 28.6 million shares for $22 a share, at the top of the expected range.

The stock begins trading Wednesday on the New York Stock Exchange under symbol "TMHC."


9. -- Bed Bath & Beyond ( BBBY) is expected by analysts on Wednesday to post fourth-quarter earnings of $1.68 a share on revenue of $3.39 billion.


10. -- Wine company Constellation Brands ( STZ) is expected by Wall Street to post fourth-quarter profit of 45 cents a share.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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