NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Sept. 9:
1. -- U.S. stock futures were higher following gains on Tuesday that were the second biggest of the year.
European stocks were in another buoyant mood on Wednesday, as an Asian rally overshadowed an unexpected fall in U.K. industrial production and a widening trade deficit.
The upbeat mood was inspired largely by Asia, where the Nikkei jumped nearly 8% in Tokyo after Japanese Prime Minister Shinzo Abe pledged to move ahead with a planned corporate tax cut.
2. -- The economic calendar in the U.S. on Wednesday includes the Job Openings and Labor Turnover Survey for July at 10 a.m. EDT.
3. -- U.S. stocks on Tuesday came back from the Labor Day weekend with a bang, surging more than 2% and reversing Friday's losses.
The S&P 500 gained 2.5% and the Dow Jones Industrial Average added 2.4%, or 388 points. The Nasdaq added 2.7% and returned to positive territory for the year.
4. -- The Federal Reserve risks triggering "panic and turmoil" in emerging markets if it opts to raise rates this month and should hold off until the global economy is on a surer footing, the World Bank's chief economist, Kaushik Basu, told the Financial Times.
Rising uncertainty over growth in China and its impact on the global economy meant a Fed decision to raise its policy rate next week, for the first time since 2006, would have negative consequences, Basu said.
Apple traditionally has reserved its September event for its largest product, the iPhone, which now accounts for about two-thirds of its revenue. This time around, Apple is expected to refresh several other products, including the much-maligned Apple TV set-top box.
The event begins at 1 p.m. EDT in San Francisco.
6. -- Jeff Smisek, United Airlines (UAL - Get Report) CEO, stepped down Tuesday in connection with an ongoing federal investigation of the carrier's relationship with David Samson, the former chairman of the Port Authority of New York and New Jersey, which oversees Newark Airport, where United operates its most profitable hub.
Oscar Munoz, a railroad executive and head of United's audit committee, was named CEO and president.
Yahoo! said in a regulatory filing that the U.S. tax authority didn't come to a decision on whether the deal was taxable leading Yahoo! to withdraw its request.
The company will continue to work on the spinoff plan, but it is unclear how it will attain a tax-free split of its Alibaba stake. Yahoo's stake is currently worth about $23 billion.
Separately, Alibaba announced its gross merchandise volume, or the total value of transactions made on Alibaba's platforms, would be lower than previously estimated due to a weaker Chinese economy.
Netflixwill begin by streaming a selection of popular TV shows, movies and kid-friendly programming. Most will come with local subtitles, and further details such as pricing will be disclosed later, Netflix said in an e-mailed statement.
All U.S.-based Chipotle restaurant locations will host open interviews from 8 a.m. to 11 a.m.