Updated from 6:59 a.m.
NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, June 10:
European stocks edged higher on Wednesday, recovering from three-month lows, as reports said Greece may yet reach a debt deal.
Asian stocks fell. Chinese markets faced early declines after U.S. index provider MSCI declined to add China-listed shares to a benchmark index. The Shanghai Composite and Hong Kong's Hang Seng slid, as did Tokyo's Nikkei 225 and Topix.
2. -- The economic calendar in the U.S. on Wednesday includes the Mortgage Bankers' Association mortgage application data at 7 a.m., the Census Bureau quarterly services survey at 10 a.m., and the Energy Information Administration Petroleum Status Report at 10:30 a.m.
3. -- U.S. stocks on Tuesday closed little changed as oil rallied and job openings increased according to the Labor Department's JOLTS report.
4. -- Jack Ma, executive chairman of Chinese e-commerce site Alibaba (BABA - Get Report), said at the Economic Club of New York that his company wasn't looking to "come to invade America," but that he was trying to bring U.S. goods to China. In the long run, though, it's widely expected that Alibaba may come to challenge eBay (EBAY - Get Report) and Amazon (AMZN - Get Report) for U.S. e-commerce market share.
In premarket trading, Alibaba stock was rising by 0.4%.
5. -- Big-box retailer Target (TGT - Get Report) will increase its stock buyback plan to $10 billion and up its dividend by 7.7%, the company said, confirming what it had already indicated in an inadvertent release on its Web site.
In premarket trading, Target stock was steady.
6. -- The Energy Information Administration releases its Petroleum Status Report at 10:30 a.m. The report tracks stockpiles of oil in the U.S., an indicator about oil's price.
Oil supplies are coming off of highs which have driven the price of U.S. oil down. Still, a recent recovery in prices has pushed U.S. West Texas Intermediate crude to a price of more than $60 a barrel. Brent crude oil is nearing $65 a barrel.
7. -- MSCI, the creator of global stock indices, declined to add Chinese A shares to its global benchmarks. However, MSCI left the door open to adding the stocks to its indices at a later point.
Inclusion in global emerging markets indices -- and, by extension, emerging markets mutual funds and ETFs -- would likely boost Chinese stocks by widening the market for them. MSCI said it would be looking into large-investor quotas, mobility of capital and other potential problems with the Chinese market.
Chinese stocks are up nearly 60% this year. Valuation was likely also a concern for the index-maker.
8. -- German pharmaceuticals company Bayer (BAYRY) will sell its diabetes care business to Kohlberg, Kravis, Roberts (KKR - Get Report)-backed Panasonic Healthcare for just over €1 billion ($1.15 billion). The unit makes blood-sugar monitors and diabetes-related devices. 350 million people have diabetes.
9. -- Chipmaker Intel (INTC - Get Report) is investing $125 million over five years into start-up funding via its Intel Capital Diversity Fund. The funding will go to tech companies owned by women or minorities in an attempt by Intel to get a foothold in innovative new companies.
In premarket trading, Intel stock was rising by 0.48%.