May 13 Premarket Briefing: 10 Things You Should Know

Updated from 6:59 a.m. EDT

Here are 10 things you should know for Tuesday, May 13:

1. 
-- U.S. stock futures were pointing to a flat to higher open and European shares were rising after Wall Street hit record highs.

Japan's Nikkei 225 rose 2% as the yen weakened. China's Shanghai Composite index fell 0.1% after data suggested that growth decelerated in April, though at levels still considered robust.

2. -- The economic calendar in the U.S. on Tuesday includes retail sales for April at 8:30 a.m. EDT, and export and import prices for April at 8:30 a.m. Business inventories for March will be released at 10 a.m.

3. -- U.S. stocks on Monday rose, with the S&P 500 and Dow Jones Industrial Average closing at all-time highs as technology shares rebounded.

The Dow added 0.68% to close at 16,695.47, while the S&P 500 jumped 0.97% to 1,896.65. The Nasdaq surged 1.77% to 4,143.86. Small caps as measured by the Russell 2000 were up more than 2% for their biggest one-day gain in more than a month.

4. -- Pfizer (PFE) reached out to AstraZeneca's (AZN) stockholders ahead of a hearing before British lawmakers, publishing a presentation in which the U.S. drugmaker described a "compelling rationale for a combination" with AstraZeneca.

"Pfizer wishes to enter into discussions with AstraZeneca regarding a potential combination of the two companies and remains disappointed at the lack of engagement by the AstraZeneca Board," a statement from Pfizer said.

Pfizer did say, however, that it would remain "disciplined on price."

Pfizer has offered to buy AstraZeneca for $106 billion in cash and stock but London-based AstraZeneca has rebuffed three approaches since January.

Pfizer shares rose 0.2% in premarket trading to $29.20; AstraZeneca shares rose 1.5% to $79.05.

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