Here are 10 things you should know for Wednesday, July 9:
1. -- U.S. stock futures were rising slightly on Wednesday as investors awaited the minutes from the Federal Reserve's last policy meeting.
European stocks declined for a fourth day while Asian stocks finished Wednesday's session lower.
2. -- The economic calendar in the U.S. on Wednesday includes minutes of the June 18 meeting of the Federal Open Market Committee at 2 p.m. EDT.
3. -- U.S. stocks on Tuesday fell with little market-moving news to sustain the rally that swept benchmark indices to record highs last week.
The Dow Jones Industrial Average fell 0.69% to 16,906.62. The S&P 500 retreated 0.7% to 1,963.71. The Nasdaq declined 1.4% to 4,391.46.
4. -- Citigroup (C) and the Justice Department are close to a deal for the bank to pay about $7 billion to settle allegations it sold shoddy mortgages in the run-up to the financial crisis, The Wall Street Journal reported, citing people familiar with the matter.
A settlement could be announced as early as next week.
The two sides, which had been far apart just weeks ago, are ironing out details of an agreement that would avert a federal lawsuit over the mortgages, the people told the Journal.
The potential settlement marks a reversal from mid-June, when the Justice Department had warned that it planned to file a lawsuit unless Citigroup significantly raised its settlement offer. Citigroup had been offering about $4 billion, while the government was seeking close to $10 billion, according to the Journal.
5. -- Amazon.com (AMZN) offered authors caught up in its dispute with Hachette Book Group 100% of the proceeds from their digital-book sales.
Hachette rejected the proposal but said it would negotiate for a contract with Amazon that would benefit both parties, Sophie Cottrell, a spokeswoman for Hachette, said in an e-mailed statement to Bloomberg on Tuesday.