April 11 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Friday, April 11:
1.-- U.S. stock futures were trading flat Friday and global shares were falling following Wall Street's selloff on Thursday, which was led largely by a drop in technology shares.
Japan's Nikkei 225 closed lower by 2.4%. Hong Kong's Hang Seng finished 0.8% lower.
2.-- The economic calendar in the U.S. on Friday includes the Producer Price Index for March at 8:30 a.m. EDT, and the University of Michigan Sentiment Index for April at 9:55 a.m.
3.-- U.S. stocks on Thursday fell sharply as a two-day recovery was stopped short by heavy selling of high-momentum names in the technology and biotech sectors. The losses came even as data showed improvement in labor market conditions.
The Dow Jones Industrial Average closed down 1.62% to 16,170.22 while the S&P 500 ended 2.09% lower at 1,833.08 -- both indices suffered their biggest falls in two months. The Nasdaq was the worst hit, posting its biggest decline since November 2011. The index dropped 3.1% to 4,054.11.
4. -- Health and Human Services Secretary Kathleen Sebelius plans to resign Friday and President Obama will nominate his budget director, Sylvia Mathews Burwell, as her replacement.
Sebelius' resignation comes just a week after registrations closed for the first year of insurance coverage under the Affordable Care Act, or so-called Obamacare.
Sebelius' resignation comes after months of speculation that she would resign over the rocky implementation of the health care law, The Wall Street Journal noted.
5. -- JPMorgan Chase
Legal costs are a wild card while lower revenue from trading and mortgage origination are widely expected.
6. -- Wells Fargo
7. -- Boeing
The company said Thursday that it is centralizing its customer support to its engineering design center in Southern California. It already employs 1,800 people at its Long Beach and Seal Beach sites there.
Boeing said the employees in the Puget Sound region affected by the decision will be given the chance to apply for jobs in California or elsewhere in the company.
8. -- Google