Here are 10 things you should know for Wednesday, Dec. 4:
1.-- U.S. stock futures were pointing to slight gains on Wall Street on Wednesday, despite a sharp decline for Japanese equities amid worries over a reduction to stimulus from the Federal Reserve.
Japan's Nikkei 225 index fell 2.2% to 15,407.94. Hong Kong's Hang Seng fell 0.8% but China's Shanghai Composite rose 1.3%.
European markets rose modestly early Wednesday.
2.-- The economic calendar in the U.S. Wednesday includes the ADP Employment Change Index for November at 8:15 a.m. EST, the trade balance for October at 8:30 a.m., new-home sales for September and October at 10 a.m., and the ISM Services Index for November at 10 a.m.
3.-- U.S. stocks on Tuesday extended recent losses as equity traders struggled to gauge the direction of the U.S. economic recovery.
The S&P 500 fell 0.32% to close at 1,795.15, the Dow Jones Industrial Average declined 0.59% to 15,914.62 and the Nasdaq slipped 0.2% to 4,037.20
The banks to be fined are Citigroup ( C), Deutsche Bank ( DB), Royal Bank of Scotland ( RBS), JPMorgan Chase ( JPM), Barclays ( BCS) and Societe Generale, sources said.
The penalty is the biggest to be handed down to banks or rigging the benchmarks used to determine the cost of lending, Reuters noted.
5.-- U.S. regulators are expected to approve next week a toughened version of the Volcker rule, with restrictions on the trading banks can do with their own money, The Wall Street Journal reported.