Here are 10 things you should know for Wednesday, Feb. 5:
1.-- U.S. stock futures were trimming losses on Wednesday following a report that found 175,000 private sector jobs were added in January.
Japan's Nikkei 225 index rose 1.2% to close at 14,180.38 on Wednesday. Hong Kong's Hang Seng fell 0.6%.
2.-- The ADP Employment Change index for January posted Wednesday found the U.S. added 175,000 private jobs to payrolls last month; economists were calling for 189,000 jobs. Also on the economic calendar for Wednesday is the ISM Services index for January at 10 a.m. EST.
3.-- U.S. stocks on Tuesday finished higher, reversing much of the prior day's deep slump.The S&P 500 rose 0.76% to close at 1,755.20, while the Dow Jones Industrial Average closed 0.47% higher at 15,445.24. The Nasdaq added 0.86% to 4,031.52.
4.-- Morgan Stanley (MS) will pay $1.25 billion to settle mortgage-backed securities litigation with Fannie Mae (FNMA) and Freddie Mac (FMCC), Morgan Stanley disclosed in a filing after the market closed on Tuesday.
In connection with the agreement, which still must get final approvals, Morgan Stanley set aside an additional $150 million to its legal reserves. The reserve increase will reduce fourth quarter and full-year 2013 earnings by an additional $97 million, or 5 cents a share vs. the figures reported last month.
Morgan Stanley shares were down 0.5% in premarket trading to $28.88.
5.-- Sony (SNE) is in talks to sell its unprofitable Vaio personal computer business to a Japanese investment fund, The Wall Street Journal reported, citing a person with knowledge of the deal.
Both Sony and the fund -- a joint venture between Bain & Co. and Mizuho Securities Co. called Japan Industrial Partners Inc. -- declined to comment for the Journal.