Here are 10 things you should know for Tuesday, Nov. 10:
1. -- U.S. stock futures pointed lower Tuesday following a pessimistic forecast for the world economy.
The Organization for Economic Cooperation and Development's warned that slower growth in emerging market economies and world trade has weakened global growth to around 2.9% this year, which is well below the long-term average, according to The Associated Press.
European stocks fell on Tuesday, tracking Asia lower on China inflation worries and a mixed batch of corporate earnings news.
2. -- The economic calendar in the U.S. on Tuesday includes export and import prices for October at 8:30 a.m. EST, and wholesale inventories for September at 10 a.m.
3. -- U.S. stocks on Monday fell as investors are coming to the realization the Federal Reserve will probably make its first interest rate increase in December.
The S&P 500 fell 1.1%, and the Dow Jones Industrial Average slid 1.1%, erasing its year-to-date gains. The Nasdaq declined 1.2%.
4. -- The International Energy Agency, in its annual energy outlook report, said Tuesday that oil prices are likely to remain low over the next five years because of plentiful supply and falling demand in developed countries.
The Paris-based body, which advises developed countries on energy policy, said it expects oil prices to return to $80 a barrel in 2020, with further increases after that.
Oil prices are down more than 50% since the middle of last year. Crude oil ended Monday at $43.87 a barrel.
Meanwhile, BP's (BP - Get Report) Middle East Chief Michael Townshend said Tuesday the company expects oil prices to remain in the range of $60 a barrel for at least the next three years as supply continues to outstrip demand, The Wall Street Journal reported.
Sales at the company's namesake chain fell 4% and Banana Republic saw sales slide 15% last month.
Total sales for Gap fell to $1.2 billion in October from $1.26 billion a year earlier, while third-quarter sales declined 3% to $3.86 billion.6. -- Canadian Pacific Railway ( CP - Get Report) , the second-biggest railroad in Canada, is exploring a takeover of Norfolk Southern ( NSC - Get Report) , Bloomberg reported, citing people familiar with the matter.
Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, which is valued at about $24 billion, said two of the people.
Discussions are preliminary and talks may not progress or lead to a deal, they told Bloomberg.
Representatives for Canadian Pacific and Norfolk declined to comment for Bloomberg.
Analysts are expecting the fast-food giant to return more cash to shareholders, according to CNBC.
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