May 6 Premarket Briefing: 10 Things You Should Know

Updated from 6:41 a.m. EDT

Here are 10 things you should know for Tuesday, May 6:

1. 
-- U.S. stock futures were rising Tuesday while European shares struggled to find direction after a mixed day of trading in Asia amid escalating tensions in Ukraine.

China's benchmark Shanghai Composite Index closed flat at 2,028.04. Markets in Tokyo, Hong Kong and Seoul were closed for holidays.

2. -- The economic calendar in the U.S. on Tuesday includes the trade balance for March at 8:30 a.m. EDT.

3. -- U.S. stocks on Monday closed higher, offsetting earlier losses after manufacturing in China contracted and tensions in Ukraine rose.

The Dow Jones Industrial Average closed 0.11% higher at 16,530.55, while the S&P 500 increased 0.19% to 1,884.66. The Nasdaq added 0.34% to finish at 4,138.06.

4. -- U.S. prosecutors were close to securing a guilty plea and a settlement of more than $1 billion from Credit Suisse (CS) over allegations the bank helped wealthy Americans evade taxes, The Wall Street Journal reported, citing people familiar with the discussions.

The Justice Department has been pushing Credit Suisse to plead guilty to a crime and U.S. officials have become more confident they can get such an agreement from the bank in the coming days, the people told the newspaper. A spokesman for Credit Suisse declined to comment for the Journal.

Credit Suisse shares rose 0.1% in premarket trading.

5. -- Merck  (MRK) reached a deal to sell its consumer care business for $14.2 billion to Germany's Bayer

The sale is expected to close in the second half of the year.

Merck said Tuesday it expects after-tax proceeds from the sale of the division of $8 billion to $9 billion.

Merck shares rose 0.6% in premarket trading to $59.

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