April 2 Premarket Briefing: 10 Things You Should Know
Updated from 6:58 a.m. EDT
Here are 10 things you should know for Wednesday, April 2:
1.-- U.S. stock futures were higher and European stocks posted modest gains Wednesday ahead of a U.S. private-payrolls report.
Asian shares finished the session with gains. Japan's Nikkei 225 rose 1% on hopes the Bank of Japan would launch additional monetary stimulus in the coming months.
2.-- The economic calendar in the U.S. on Wednesday includes the ADP Employment Change report for March at 8:15 a.m. EDT, and factory orders for February at 10 a.m.
3.-- U.S. stocks on Tuesday rose after stronger-than-expected manufacturing data suggested the economy is shaking off a slow start to the year amid harsh winter weather.
The Dow Jones Industrial Average added 0.41% to close at 16,524.32, while the S&P 500 rose 0.62% to 1,883.89. The Nasdaq jumped 1.5% to finish at 4,260.69.
4. -- Shares of General Motors
Barra told lawmakers she was awaiting the results of an internal GM investigation. She didn't know why GM waited more than a decade to recall cars it knew had defective ignition switches. She didn't know who was responsible for the decisions that delayed the recall.
Barra goes before Congress again Wednesday to continue her testimony on the recalls and the defective ignition switches.
GM hired Kenneth Feinberg -- who handled the fund for the victims of 9/11, the Boston Marathon bombing and the BP oil spill -- to explore ways to compensate victims of accidents in the GM cars.
The stock was rising 0.5% in premarket trading to $34.52.
5. -- MannKind
By a 13-1 margin, experts on the panel voted to recommend the approval of Afrezza as a new insulin therapy for Type 1 diabetics. The same panel supported Afrezza use in Type 2 diabetics by a 14-0 vote.
MannKind shares were soaring in premarket trading, up 103% to $8.15.
6. -- Apple
Renesas SP Drivers is 55% owned by Japan's Renesas Electronics. It's one of the world's biggest makers of chips to control the small and midsize liquid-crystal displays used in such products as smartphones and tablets. Acquiring the company would give Apple exclusive access to Renesas SP's technology, which can reduce a mobile display's energy use-extending battery life-as well as improve image quality, according to the Journal.