March 18 Premarket Briefing: 10 Things You Should Know

Updated from 6:50 a.m. EDT

Here are 10 things you should know for Tuesday, March 18:   

1.-- U.S. stock futures were pointing to a weaker start for Wall Street on Tuesday as Federal Reserve Chairwoman Janet Yellen presides over her first policy-making meeting as chief of the central bank.

European stocks were lower. Asian shares ended the session with gains. Japan's Niikkei 225 rose 0.9%. 

2.-- The economic calendar in the U.S. on Tuesday includes housing starts and building permits for February at 8:30 a.m. EDT and the Consumer Price Index for February at 8:30 a.m. The Federal Open Market Committee two-day meeting begins Tuesday.

3.-- U.S. stocks on Monday closed higher in a relief rally after the absence of military violence surrounding the weekend's Crimea vote. Domestic industrial production rebounded, pointing to ongoing improvement in the domestic economy. 

The Dow Jones Industrial Average rose 1.13% to close at 16,247.22 while the S&P 500 gained 0.96% to 1,858.83. The Nasdaq rose 0.81% to 4,279.95.

4.-- General Motors (GM) issued a new recall of 1.5 million vehicles on Monday, and CEO Mary Barra acknowledged the mistakes made by the automaker.

In a video message to employees posted Monday, Barra said the new recall resulted from a push to review potential safety issues and resolve them more quickly.

It's part of the fallout from the recall last month of more than 1.6 million small cars for defective engine switches. The defect is linked to 12 deaths, and GM is facing multiple investigations into how it handled the recall. GM first began investigating the switches in 2004.

"Something went wrong with our process in this instance, and terrible things happened," Barra said.

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