Here are 10 things you should know for Thursday, May 12:
1. -- U.S. stock futures rose Thursday but European shares dipped and Asian stocks finished the trading session mixed.
Shares in London, Frankfurt and Paris posted modest losses. Japan's Nikkei 225 stock index rose 0.4%, while the Hang Seng index in Hong Kong declined 0.7%.
2. -- The economic calendar in the U.S. Thursday includes weekly Initial Jobless Claims at 8:30 a.m. EDT, and Import and Export Prices for April at 8:30 a.m.
3. -- U.S. stocks on Wednesday ended lower as disappointing starts to the year for Walt Disney (DIS - Get Report) and and Macy's (M - Get Report) , industry leaders of the entertainment and retail worlds, respectively, took down Wall Street.
The S&P 500 ended 0.96% lower, snapping a three-day winning streak. The Dow Jones Industrial Average fell 1.2%, and the Nasdaq declined 1%.
4. -- Brazil's Senate voted 55-22 to impeach the country's first woman president.
President Dilma Rousseff is accused of using accounting tricks to hide large budget deficits.
Rousseff will be suspended and replaced for up to six months by Vice President Michel Temer pending a trial in the Senate, the Associated Press reported. The trial will determine whether Rousseff can serve out her second term, or whether her ally-turned-enemy, Temer, will remain in the top job through the December 2018 end of the term.
Nissan will spend 237 billion yen ($2.2 billion) to become the top investor in Mitsubishi Motors by purchasing newly issued shares. Nissan's stake would eclipse the 20% stake held by Mitsubishi Heavy Industries Ltd.
Mitsubishi Motors has admitted to irregular fuel-efficiency testing dating back a quarter of a century.
Nissan said it plans to conduct due diligence on Mitsubishi Motors between now and August and anticipates closing the deal in October.
"Not true," Apple rep Tom Neumayr told Re/code.
Neumayr wouldn't expand on that comment, except to make it clear that he was responding to both timelines proposed in the story from Digital Music News, which citing sources close to Apple saying that discussions are now focused "not on if, but when" music downloads should be retired for good.
Download sales are in a steady decline and have been for some time, Re/code noted. Download sales in the U.S. dropped to $2.3 billion last year from $2.8 billion in 2013, according to the RIAA industry trade group.
7. -- A product team at Google, a unit of Alphabet (GOOGL - Get Report) , is working on a hardware device that would integrate Google's search and voice assistant technology, akin to the Amazon Echo, Re/code reported.
Google's device will resemble its OnHub wireless router, Re/code reported, citing several sources. Internally the project goes by the name "Chirp."
Sources said the device is unlikely to launch next week at Google's I/O developer conference, but plans are for it to land at some point this year, Re/code reported.
8. -- The International Energy Agency said Thursday that higher-than-expected Iranian oil production has helped stabilize the global oil market by offsetting concerns generated by wildfires in Canada and violence in Nigeria.
In its monthly report, the Paris-based IEA said global oil output rose to 32.7 million barrels a day in April, a figure boosted by Iran as its production increased faster than expected following the lifting of international sanctions earlier this year.
The IEA is forecasting a sharp drop in the global oil supply surplus by the year's end, which should push the market toward "much-anticipated balance" after a volatile couple of years.
Oil prices in the U.S. early Thursday rose 0.9% to $46.67 a barrel.
9. -- Linn Energy, the oil and gas producer, filed for chapter 11 bankruptcy protection on Wednesday.
The company reached a deal with lenders to restructure its $8.3 billion debt load and obtain $2.2 billion in fresh financing.