Here are 10 things you should know for Monday, Jan. 27:
1.-- U.S. stock futures were rising Monday, helped by an earnings beat from Caterpillar (CAT) and ahead of this week's Federal Reserve meeting.
European stocks were falling Monday. Asian shares closed sharply lower. Japan's Nikkei 225 dropped 2.5% to close at 15,005.73. The Shanghai Composite Index declined 1%.
2.-- The economic calendar in the U.S. Monday includes new-home sales for December at 10 a.m. EST.
3.-- U.S. stocks on Friday sold off sharply as evidence of a global economic slowdown prompted investors to plough money into safe-haven assets and flee the emerging markets.
The Dow Jones Industrial Average suffered a triple-digit drop for the second straight day, surrendering 3.52% for the week. That's its biggest weekly loss since May 2012. On Friday, the index fell 1.96%, or 318.24 points, to 15,879.11. The S&P 500 declined 2.09% to 1,790.29, sending the index down 2.63% for the week. The Nasdaq closed 2.15% lower at 4,128.17, down 1.65% for the week.
4.-- IPhone and iPad maker Apple (AAPL) is expected by Wall Street to report fiscal first-quarter earnings after Monday's closing bell of $14.07 a share on revenue of $57.46 billion.
Apple is releasing earnings just as billionaire investor Carl Icahn pressures the company to do something with its cash hoard.
He suggested in an open letter to Apple shareholders that the company should boost its stock repurchase program.
Icahn announced via Twitter last week that he bought another $500 million worth of Apple stock, raising his total to $3.6 billion.
Apple shares were up 0.85% to $550.70 in premarket trading Monday.