Here are 10 things you should know for Thursday, June 12:
1. -- U.S. stock futures were rising slightly Thursday ahead of a retail sales report while European shares were mostly higher after industrial production in the eurozone in April rose.
Asian stocks finished the session lower.
2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, retail sales for May at 8:30 a.m., export and import prices for May at 8:30 a.m., and business inventories for April at 10 a.m.
3. -- U.S. stocks on Wednesday fell and the S&P 500 index suffered its biggest daily decline in three weeks after the World Bank slashed its global economic outlook.
The S&P 500 declined 0.35% to 1,943.9, gapping from its record-breaking 1,950-level achieved at the beginning of the week. The Dow Jones Industrial Average lost 0.6% to 16,843.88. The Nasdaq dropped 0.14% to 4331.93.
4. -- Professional golfer Phil Mickelson didn't trade in the shares of Clorox (CLX) just as billionaire investor Carl Icahn was mounting an unsolicited takeover bid for the company in 2011, The New York Times reported, citing four people briefed on the matter.
The Times and other news outlets have been reporting that Clorox was among the stocks that federal authorities were examining as part of a two-year investigation into well-timed trades made by Mickelson and sports gambler William T. Walters. Initially, authorities pursued a theory that Icahn shared private details of his Clorox bid with Walters, who then traded on the information and passed on the tip to Mickelson.
Although Icahn and Walters remain under investigation over Clorox, The Times said the F.B.I. and the Securities and Exchange Commission have found no evidence that Mickelson traded Clorox shares. The overstated scope of the investigation came from information provided to the newspaper by other people briefed on the matter who have since acknowledged making a mistake.