May 20 Premarket Briefing: 10 Things You Should Know

Updated from 6:24 a.m. EDT

Here are 10 things you should know for Tuesday, May 20:

1. 
-- U.S. stock futures were pointing to a lower start for Wall Street on Tuesday as markets around the globe traded mixed.

European stocks moved lower in early trading while Asian shares ended mostly higher. Japan's Nikkei 225 index rose 0.5%.

2. 
-- The economic calendar in the U.S. on Tuesday includes the ICSC-Goldman Store Sales report at 7:45 a.m. EDT, and the Redbook weekly chain-store sales report at 8:55 a.m.

3. -- U.S. stocks on Monday gained Monday as small-cap and tech stocks surged against a backdrop of mixed M&A success. 

The Dow Jones Industrial Average added 0.15% to 16,516.46, while the S&P 500 was up 0.4% to 1,885.45. The Nasdaq jumped 0.88% to 4,126.40.

4. -- Swiss bank Credit Suisse (CS) pleaded guilty to helping wealthy Americans avoid paying taxes through secret offshore accounts and agreed to pay about $2.6 billion to the U.S. government and regulators.

The Justice Department said it was the largest penalty imposed in any criminal tax case. It is also the largest bank to plead guilty in more than 20 years, according to The Associated Press.

Credit Suisse shares rose 1.2% in premarket trading $29.44.

5. -- Microsoft (MSFT) is expected at an event in New York on Tuesday to introduce new Surface and Surface Pro tablets.

Some experts believe the company will unveil a smaller "mini" tablet with a 7- or 8-inch screen, USA Today reported.

"The consensus on (Tuesday's) event seem to be centered on the announcement of a new Surface 'mini' running Windows RT, which seems a likely scenario to me," Charles King, president and principal analyst at Pund-IT, told USA Today. "The fact is that the tablet market has evolved to support both mini (7-8 inch) and maxi (10-inch) sized products, to the point where even Apple, the longest major holdout, finally threw in the towel with the iPad mini."

Microsoft fell 0.3% in premarket trading.

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