Updated from 7:11 a.m.
NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, May 12:
1. -- U.S. stock futures were sinking as investors recoiled from a widespread bond drop and as Verizon announced a buyout of AOL.
European stocks fell sharply as a global selloff of government bonds weighed on European stocks amid little progress on a resolution to the Greek debt crisis.
Asian stocks were mixed, as Japan posted small gains, Hong Kong's Hang Seng fell and mainland Chinese indices rose.
2. -- The economic calendar in the U.S. on Tuesday includes the comparable-store retail sales Redbook at 8:55 a.m., the National Federation of Independent Business small business optimism index at 9 a.m., and the Job Openings and Labor Turnover Survey (JOLTS) at 10 a.m.
3. -- U.S. stocks on Monday dropped on concerns over a Greek debt deal and a falling bond market.
4. -- Telecom company Verizon (VZ) announced a $4.4 billion buyout of AOL (AOL). The plan is for AOL to become a subsidiary of Verizon after a tender offer at $50 a share. AOL shares closed Monday at $42.59.
The acquisition will allow Verizon to gain AOL's online video and advertising infrastructure and technology.
AOL's stock skyrocketed 18% in premarket trading, and Verizon stock fell 0.62%.
5. -- The Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, comes in at 10 a.m. Tuesday. The survey looks at available job openings and gives a data point on the overall economy's health. At the last report, JOLTS said 5.13 million jobs were open, breaking the important barrier of 5 million.
6. -- Apple (AAPL) is in talks with Chinese e-commerce site Alibaba (BABA) to bring Apple Pay to China, according to the official Xinhua news service. Alibaba already runs Alipay, a large payments company, in China.
Apple now has the largest smartphone market share in China.
In premarket trading, Apple stock was down 0.51% and Alibaba stock was up 0.55%
Bank of America (BAC), Citigroup, HSBC (HSBC), JPMorgan Chase (JPM), Royal Bank of Scotland (RBS) and UBS (UBS) have already agreed to pay a total of $4.3 billion in charges for foreign-exchange malpractice, but criminal charges and penalties are also expected for Citi, JPMorgan Chase, Barclays (BCS) and RBS.
Citigroup was dropping by 0.54% in premarket trading.