Oct. 30 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Oct. 30:

1.-- U.S. stock futures were pointing to gains on Wall Street Wednesday as investors expect the Federal Reserve to maintain the pace of stimulus the central bank has been supplying to the economy.

European stocks were rising in early trading while Asian shares finished Wednesday's session with gains. Japan's Nikkei 225 index rose 1.2%.

2.-- The economic calendar in the U.S. Wednesday includes the ADP Employment Change Index for October at 8:15 a.m. EDT, the third-quarter advance reading on gross domestic product at 8:30 a.m., and the Consumer Price Index for September at 8:30 a.m. The rates decision from the Federal Open Market Committee is expected at 2:15 p.m.

3.--U.S. stocks on Tuesday rose and the Dow Jones Industrial Average and S&P 500 closed at record highs on expectations the Fed won't pull back on its stimulus measures at the conclusion of its two-day policy meeting Wednesday given that the U.S. economic recovery continues to struggle.

The S&P 500 gained 0.6% to close at 1,771.95 while the Dow jumped 0.7% to 15,680.35. The Nasdaq added 0.3% to finish at 3,952.34.

4.-- Social networking giant  Facebook ( FB) is  expected by Wall Street on Wednesday to  report third-quarter earnings of 19 cents a share on revenue of $1.91 billion. Facebook's report is scheduled for after the closing bell.

Investors will be focused on signs that Facebook can keep growing advertising revenue, especially on mobile devices.

Facebook posted earnings, excluding special items, in the year-earlier third quarter of 12 cents a share on revenue of $1.26 billion.

5.-- General Motors (GM), the biggest automaker in the U.S., is expected to report earnings of 94 cents a share in the third quarter on revenue of $39.49 billion.  

GM remains second in global auto sales with 7.25 million vehicles, behind Toyota (TM).

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