Here are 10 things you should know for Wednesday, May 4:
1. -- U.S. stock futures pointed lower on Wednesday, European shares traded mixed and Asian stocks finished with losses on global growth concerns.
A weak manufacturing report from China and a cut in Europe's growth outlook pulled equities lower. The European Union forecast the eurozone economy would grow by 1.6% this year, down 0.1 point from expectations three months ago.
Oil prices in the U.S. early Wednesday fell slightly to $43.57 a barrel.
2. -- The economic calendar in the U.S. Wednesday includes the ADP National Employment Report for April at 8:15 a.m. EDT, preliminary First-Quarter Productivity and Costs at 8:30 a.m., the Trade Balance for March at 8:30 a.m., Factory Orders for March at 10 a.m., and the ISM Services Index for April at 10 a.m.
3. -- U.S. stocks on Tuesday declined amid weak factory activity from China, downgraded growth expectations from Europe, and after Australia's central bank jumped on the easing wagon.
The S&P 500 fell 0.87%, the Dow Jones Industrial Average declined 0.78%, or 134 points, and the Nasdaq slid 1.1%. The Nasdaq was down for the eighth time in nine sessions, while the S&P 500 and Dow were down for the third time in four.
4. -- Donald Trump all but clinched the Republican presidential nomination Tuesday with a resounding victory in Indiana that knocked rival Ted Cruz out of the race and cleared Trump's path to a likely November face-off with Democratic front-runner Hillary Clinton.
Trump still needs about 200 delegates to formally secure the nomination, but Cruz's decision to end his campaign removed his last major obstacle.
Vermont Sen. Bernie Sanders eked out a victory over Clinton in Indiana, but the outcome will not slow the former secretary of state's march to the Democratic nomination. Heading into Tuesday's voting, Clinton had 92% of the delegates she needs, according to The Associated Press.
5. -- Pfizer (PFE) approached cancer drugmaker Medivation (MDVN) to express interest in an acquisition, raising the possibility of a bid rivaling a $9.3 billion offer by Sanofi (SNY) , people familiar with the matter told Reuters on Tuesday.
Pfizer's approach comes less than a week after Sanofi went public with an offer of $52.50 a share for Medivation, complaining that Medivation refused to engage in talks. Medivation subsequently rejected the offer as too low. Medivation shares closed on Tuesday at $57.52.
Medivation hasn't yet decided whether to engage with Pfizer in negotiations and is in discussions with its financial and legal advisers, the people said. There is no certainty that Pfizer will press ahead with a bid, they added, Reuters reported.
6. -- Altice, the European telecommunications company, received approval from the Federal Communications Commission for its acquisition cable company Cablevision Systems (CVC) .
The deal, valued at $17.7 billion including debt, still needs approval from the state of New York and New York City.
If the deal is approved, Altice would become the fourth-largest U.S. cable provider, according to Reuters.
7. -- Anheuser-Busch InBev (BUD) missed analysts' sales and profits estimates in the first quarter. The brewer announced Tuesday Ebitda of $3.6 billion, shy of the $3.74 billion expected by analysts.
Total volumes were down 1.7% with the company attributing that to a tough economic climate in Brazil. AB InBev said beer volumes in Brazil had fallen 10% in the first quarter, in part due to an earlier Carnival holiday.
Revenue for the brewer's three global brands -- Corona, Stella Artois and Budweiser -- grew by 5.9%. This was led by significant growth by Corona, which grew by 22%, driven by Mexico, Chile, China and the U.K.
The brewer anticipates completing the acquisition of SABMiller (SBMRY) in the second half of 2016 to create the world's largest brewery.
Under the agreement, the companies will work together to more than double the size of Google's self-driving vehicle fleet by adding 100 Chrysler Pacifica minivans.
Chrysler engineers would work with Google to install sensors and software so the vans can drive themselves.
The added vehicles are needed as Google expands real-world testing. Google said it will own the gas-electric hybrid vans, and it's not currently licensing autonomous car technology to Fiat Chrysler or anyone else. Both companies are free to work with others as well.
9. -- CBS (CBS) , the nation's largest broadcast network measured by viewers, rode its coverage of the Feb. 7 Super Bowl and an industrywide increase in advertising sales to a 31% boost in earnings in the first quarter to $1.02 a share that blew past analysts' expectations.
The company also beat the consensus with a 10% hike in revenue to $3.85 billion.