Here are 10 things you should know for Tuesday, Dec. 24:
1.-- U.S. stock futures were pointing modestly higher Tuesday and global stocks advanced amid light volumes a day before Christmas.
Stock markets in the U.S. will close Tuesday at 1 p.m. EST.
Stocks in London and Paris rose; markets in Germany were closed. Asian shares finished Tuesday's session with gains. Japan's Nikkei 225 index gained 0.1%.
2.-- The economic calendar in the U.S. Tuesday includes durable-goods orders for November at 8:30 a.m., the FHFA Housing Price Index for October at 9 a.m., and new-homes sales for November at 10 a.m.
3.-- U.S. stocks on Monday rose to record highs as the "Santa Claus" rally gathered strength from rising consumer spending in November.
The S&P 500 gained 0.53% to close at 1,827.99 while the Dow Jones Industrial Average added 0.45% to finish at 16,294.61 -- records for both indices. The Nasdaq climbed 1.08% to 4,148.90. The S&P 500 is up more than 28% in 2013.
4.-- Private-equity firm Carlyle (CG) is nearing an agreement to acquire Johnson & Johnson's (JNJ) ortho clinical diagnostics unit, four people familiar with the matter told Reuters, in a deal expected to be worth around $4 billion.
Carlyle is in exclusive talks with J&J after prevailing over a rival bid from Blackstone Group (BX) in partnership with Danaher (DHR), the people told Reuters.
A deal is expected to be reached within the next two weeks, one of the sources said.
5.-- The American Bankers Association threatened legal action against a provision of the "Volcker rule," according to reports.
In a court filing, the ABA said it was seeking relief from the Volcker rule's treatment of investments backed by trust-preferred securities, a type of collateralized debt obligation made up of loans to other banks, The Wall Street Journal reported.
The rule is "arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law," the group said in a petition to the U.S. Court of Appeals for the District of Columbia, the Journal reported.
6.-- Holiday shopping sales have declined for a third straight week, according to ShopperTrak.
Sales at U.S. stores dropped 3.1% to $42.7 billion for the week that ended on Sunday compared with the same week last year, said ShopperTrak, which tracks data at 40,000 locations. That follows a decline of 2.9% and 0.8% during the first and second weeks of the month, respectively.
7.-- Target (TGT) said the Department of Justice has begun investigating the credit and debit card security breach at the retailer.
Target last week revealed that data connected to about 40 million credit and debit card accounts were stolen between Nov. 27 and Dec. 15.
8.-- Shares of network and storage equipment maker Xyratex (XRTX) soared more than 27% on Monday after agreeing to be acquired by Seagate Technology (STX) for $13.25 a share, or about $374 million in cash.
9.-- Walt Disney (DIS) said Monday that Twitter (TWTR) Chairman Jack Dorsey was named to its board.
Dorsey, who is also CEO of mobile payments company Square, will join the board immediately as an independent director.
10.-- Microsoft (MSFT) co-founder Paul Allen this week sold a 292-acre island in northwestern Washington state for $8 million.
The island was listed in 2005 for $25 million and slashed to $13.5 million in 2009, according to The Seattle Times.
Allan Island is named after a Navy hero and not the billionaire.
-- Written by Joseph Woelfel
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