May 21 Premarket Briefing: 10 Things You Should Know

Updated from 6:47 a.m. EDT

Here are 10 things you should know for Wednesday, May 21:

1. 
-- U.S. stock futures were rising Wednesday reversing losses in the previous session.

European markets were flat to slightly higher, while Asian stocks ended mixed. Japan's Nikkei 225 index fell 0.2%. 

2. 
-- The economic calendar in the U.S. on Wednesday includes the minutes from the April 30 meeting of the Federal Open Market Committee. The minutes will be released at 2 p.m. EDT.

3. -- U.S. stocks on Tuesday stumbled on Tuesday after disappointing earnings from retailers. Small caps relinquished Monday's gains, shedding 1.4% amid a cautious backdrop.

The Dow Jones Industrial Average fell 0.83% to 16,374.31, while the S&P 500 declined 0.65% to 1,872.83. The Nasdaq dropped 0.7% to 4,096.89.

4. -- Netflix (NFLX) plans to expand into Germany, France and four other European countries later this year as the streaming video service tries to build an international following.

The additional markets announced Wednesday will extend Netflix's reach into nearly 50 countries, including 13 in Europe. Besides Germany and France, the latest countries in Netflix's expansion are Switzerland, Austria, Belgium and Luxembourg.

Netflix entered Europe in 2012 when its Internet video service debuted in the U.K. and Ireland.

The stock rose 1% in premarket trading to $375.20.

5. -- Target (TGT) is expected by analysts to report on Wednesday first-quarter earnings of 71 cents a share on revenue of $17.01 billion.

The retailer on Tuesday fired the president of its Canadian operations.

6. -- Google (GOOG) is amassing cash overseas to help finance a foreign shopping spree that could cost the search giant up to $30 billion.

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