Here are 10 things you should know for Monday, Dec. 16:
1.-- U.S. stock futures were lower on Monday and Asian shares declined ahead of Wednesday's announcement from the Federal Reserve on whether it will reduce economic stimulus for the U.S. economy.
European stocks rose after a closely watched index of manufacturing output beat forecasts.
Japan's Nikkei 225 index fell 1.6%. Hong Kong's Hang Seng fell 0.56%.
2.-- The economic calendar in the U.S. Monday includes the Empire State Manufacturing Index for December at 8:30 a.m. EST, third-quarter productivity and costs data, and capacity utilization and industrial production for November at 9:15 a.m.
3.-- U.S. stocks closed mixed on Friday and fell for the week as concerns of a tapering from the Federal Reserve remained on the table even as some market strategists said a "Santa Claus" could boost shares heading into the new year.
The S&P 500 slipped 0.2% to close at 1,775.32 on Friday while the Dow Jones Industrial Average added 0.1% to finish at 15,755.36. The Nasdaq rose 0.06% to close at 4,000.98.
According to The Wall Street Journal, Sprint is preparing a takeover that could be worth in excess of $20 billion. However, the telecom giant hasn't yet decided whether it will unveil a formal offer. A key issue in any prospective deal would be the blessing of the Justice Department, which rejected AT&T's (T) $39 billion takeover attempt of T-Mobile in 2011.
Sprint shares closed Friday at $8.15 but surged more than 3% in after-hours trading. T-Mobile shares fell 2.4% on Friday but rose almost 7% in the after-hours session.