Updated to include earnings from Walgreens.

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Here are five things you must know for Thursday, Jan. 5:

1. -- U.S. stock futures and European shares were mixed a day after minutes from the Federal Reserve's meeting in December showed that the central bank was considering a faster pace of interest rate increases. 

The Fed noted that fiscal policy from the incoming Trump administration could warrant higher rates, though were cautious to emphasize data dependency and its dual mandate of maximum employment and price stability.

 "While the Fed signaled that it would likely respond to expansionary fiscal policies with a faster pace of rate hikes, the Fed believes it is too early to embed this into its baseline," Barclays analysts wrote in a note. "Any real shift in the stance of monetary policy will require more clarity on the stance of fiscal policy."

U.S. stocks closed higher Wednesday following the release of the Fed minutes. The Dow Jones Industrial Average gained 0.30% to close at 19,942, the S&P 500 gained 0.57%, and the Nasdaq rose 0.88%.

The dollar moved lower for a second day on Thursday after the Fed said "uncertainty regarding fiscal and other economic policies had increased."

The economic calendar in the U.S. on Thursday includes the ADP National Employment report for December at 8:15 a.m. EST, weekly Jobless Claims at 8:30 a.m., the ISM Non-Manufacturing Index at 10 a.m., and Crude Inventories for the week ended Dec. 30, at 10:30 a.m.

Walgreens (WBA - Get Report) posted fiscal first-quarter adjusted earnings of $1.10 a share, topping analysts' estimates by 1 cent. The company also raised the lower end of its guidance for 2017 to a range of $4.90 to $5.20.

The stock rose slightly in premarket trading.

Walgreens is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys of sells WBALearn more now.

Earnings are expected Thursday from Constellation Brands (STZ - Get Report) and Monsanto.

2. -- Macy's (M - Get Report) shares were falling almost 9% in premarket trading Thursday after the retailer detailed a lackluster holiday season of profits and said it would close 68 stores by early spring in an effort to save money as it battles the transition to digital shopping.

The company said it expects sales in 2017 to be hurt by $575 million as a result of the closures. About 3,900 employees will be let go. Macy's also said it would cut about 6,200 other positions to streamline operations.

Macy's reiterated on Wednesday that it expects to close 100 stores over the next few years

"As we've noted, it is essential that we maintain a healthy portfolio of the right stores in the right places," Macy's Chairman and CEO Terry Lundgren said in a statement. "We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate."

Macy's said same-store sales in November and December fell 2.1% from the same period last year.

3. -- Shares of fellow retailer Kohl's (KSS - Get Report) plunged 15% in premarket trading after it too reported disappointing holiday sales.

Comparable-store sales at Kohl's fell 2.1% in November and December from a year earlier and the company also reduced its profit guidance.

Kohl's said it expects earnings for the current fiscal year of $2.92 to $2.97 a share, compared to previous expectations of $3.12 to $3.32.

4. -- Amazon.com (AMZN - Get Report)  and teen apparel store chain Forever 21 are among the companies weighing offers to acquire bankrupt American Apparel, people familiar with the talks told Reuters on Wednesday.

Amazon and Forever 21, as well as California-based apparel maker Next Level Apparel and brand licensor Authentic Brands Group, are in talks with American Apparel and its financial advisers about submitting offers ahead of a deadline on Friday, the people told Reuters.

Any successful offer would have to top a $66 million stalking horse bid by Canadian apparel maker Gildan Activewear (GIL - Get Report) , which American Apparel agreed to when it filed for bankruptcy in November.

5. -- Apple (AAPL - Get Report) , complying with what it said was a request from Chinese authorities, removed news apps created by The New York Times from its app store in China late last month, the newspaper reported.

The government began blocking the Times's websites in 2012, after a series of articles on the wealth amassed by the family of Wen Jiabao, who was then prime minister, but it had struggled in recent months to prevent readers from using the Chinese-language app, according to the Times.

Apple removed both the English-language and Chinese-language apps from the app store in China on Dec. 23. 

"For some time now the New York Times app has not been permitted to display content to most users in China and we have been informed that the app is in violation of local regulations," said Fred Sainz, an Apple spokesman. "As a result, the app must be taken down off the China App Store. When this situation changes, the App Store will once again offer the New York Times app for download in China."

"The request by the Chinese authorities to remove our apps is part of their wider attempt to prevent readers in China from accessing independent news coverage by The New York Times of that country -- coverage which is no different from the journalism we do about every other country in the world, including the United States," said Times spokeswoman Eileen Murphy.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys of sells AAPL? Learn more now.