Updated to include earnings from Lowe's and Target.
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Here are five things you must know for Wednesday, Nov. 16:
1. -- U.S. stock futures pointed lower Wednesday and European stocks slipped as bond yields and the dollar edged higher.
The yield on the U.S. 10-year Treasury bond rose to 2.28% as the U.S. dollar index added 0.3% against a basket of global currencies to trade at 100.44.
Federal Reserve Bank of St. Louis President James Bullard said Wednesday that he is still leaning toward backing an interest-rate rise increase in December, saying the outlook for monetary policy in the short-term is unchanged following Donald Trump's victory in the U.S. presidential election, The Wall Street Journal reported.
"A single policy rate increase, possibly in December, may be sufficient to move monetary policy to a neutral setting," Bullard said in a speech in London.
The economic calendar in the U.S. on Wednesday includes the Producer Price Index for October at 8:30 a.m. EST, Industrial Production and Capacity Utilization for October at 9:15 a.m., the NAHB Housing Market Index for November at 10 a.m., and Crude Inventories for the week ended Nov. 12, at 10:30 a.m.
Lowe's (LOW) reported third-quarter adjusted earnings of 88 cents a share, below Wall Street estimates of 96 cents. Revenue of $15.74 billion also came in below forecasts.
The stock of the home-improvement retailer fell more than 5% in premarket trading.
Target (TGT) posted adjusted earnings of $1.04 a share in the third quarter, easily topping estimates of 83 cents. The stock rose 6% in premarket trading.
The retailer raised its guidance for 2016 and said it expects adjusted earnings of $5.10 to $5.30 a share.
2 . -- Snap Inc., the parent company of Snapchat, filed confidentially for an initial public offering, Bloomberg reported, citing people familiar with the matter.
Snapchat filed papers with the Securities and Exchange Commission before last week's U.S. presidential election, one of the people said. The company is targeting a valuation of about $20 billion to $25 billion in a listing that could come as early as March, the person said. No final decision has been made on the size or timing of the IPO.
Snapchat will seek to raise as much as $4 billion at a valuation of about $25 billion to $35 billion, people familiar with the matter said last month, with one adding that the valuation could reach as much as $40 billion.
While the company's management doesn't think a Trump presidency is likely to have a negative impact on the business, they will be closely tracking market volatility and could delay the IPO if needed, one of the people told Bloomberg.
The head of the International Energy Agency said Wednesday that global oil demand won't stop growing before 2040 despite pledges made at last year's Paris climate change summit to cap greenhouse-gas emissions.
IEA Executive Director Fatih Birol said demand will keep rising because there are currently scant alternatives to oil for road freight, aviation and petrochemicals, despite increasing investment in renewable energy, the Journal reported.