Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Thursday, April 4:
1. -- U.S. stock futures were tracking Asian markets higher Thursday after the Bank of Japan made a bold decision on monetary policy.
Japan's Nikkei 225 index finished with a gain on Thursday of 2.2% after the Japanese central bank announced aggressive monetary easing.
European shares were trading mixed.
2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT.
3. -- U.S. stocks on Wednesday fell the most in five weeks.
The S&P 500 fell 1.1% to 1,553.69, the largest drop since Feb. 25. The Dow Jones Industrial Average closed down 0.8% to 14,550.35 while the Nasdaq finished off 1.1% to 3,218.60.
4. -- Japan is making a sweeping shift in its monetary policy, aiming to spur inflation and get the world's third-largest economy out of a long, debilitating slump.
Bowing to demands from Prime Minister Shinzo Abe for more aggressive monetary easing, the Bank of Japan announced Thursday a policy overhaul intended to double the money supply and achieve a 2% inflation target at the "earliest possible time, with a time horizon of about two years."
5. -- The European Central Bank left a key lending rate unchanged at 0.75%. The Bank of England also kept interest rates unchanged Thursday.
6. -- Facebook
Sources said Facebook is going to build its own operating system, based off Google's Android, keeping users on the social network. The phone, which is reported to be an HTC phone, will come with Facebook's native apps, including Camera and Facebook Messenger to keep its users from venturing outside Facebook's walled garden.
Facebook is set to make the announcement at 10 a.m. PST on Thursday. TheStreet is covering the event live.
7. -- Lululemon
Lululemon said the departure was part of a plan to reorganize its product team to support long-term growth. The yoga wear maker wouldn't comment specifically if the departure was related to a recent problem with see-through pants.
8. -- Google