NEW YORK (TheStreet) -- Here are 10 things you should know for Thursday, Oct. 17:
1.-- U.S. stock futures were pointing to a lower Wall Street open on Thursday after Congress passed legislation to raise the nation's $16.7 trillion debt limit.
Asian stocks cheered the news; Japan's Nikkei 225 index closed Thursday with a gain of 0.8%. European stocks were slipping.
2.-- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, housing starts and building permits for September at 8:30 a.m., and the Philadelphia Fed survey for October at 10 a.m.
3.--U.S. stocks closed Wednesday with gains as Congress reached a budget deal and removed the threat of a government default.
The S&P 500 rose 1.4% to close at 1,721.54. The Dow Jones Industrial Average rose 1.4% to 15,373.83 while the Nasdaq advanced 1.2% to 3,839.43.
4.-- The House of Representatives Wednesday night passed a bill to fund the government and raise the nation's borrowing limit.
By a vote of 285 to 144, Republicans and Democrats upheld a bill negotiated by Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell after a government shutdown of nearly three weeks and shortly before the United States was to be unable to pay its debts.
Earlier in the evening, the Senate passed the bill 81 to 18. Difficulties had arisen when the Republican-controlled House and Democratic-controlled Senate could not agree to various forms of bills to fund the government and raise the debt limit.
5.-- IBM (IBM) shares sunk almost 6% in after-hours trading on Wednesday after the technology giant reported better-than-expected third-quarter earnings but missed on the top line following a negative currency hit and as key growth markets trailed the majors for the first time.