April 9 Premarket Briefing: 10 Things You Should Know
Updated from 6:55 a.m. EDT
Here are 10 things you should know for Wednesday, April 9:
1.-- U.S. stock futures were pointing to gains on Wall Street early Monday ahead of the release of the minutes of last month's Federal Reserve meeting.
European stocks were rising. Asian shares ended the session mostly higher, except for Japan which tumbled 2.1% as disappointment spread that the Japanese central bank didn't announce additional stimulus.
2.-- The economic calendar in the U.S. on Wednesday includes wholesale inventories for February at 10 a.m. EDT, and minutes of the March 19 meeting of the Federal Open Market Committee at 2 p.m.
3.-- U.S. stocks on Tuesday closed higher Tuesday, shaking off a two-day selloff, as tech stocks rebounded.
The Dow Jones Industrial Average gained 0.06% to 16,256.27, while the S&P 500 added 0.38% to close at 1,851.96. The Nasdaq increased 0.81% to 4,112.99, ending a 3.7% tumble across the prior two trading sessions.
4. -- Toyota
No injuries or crashes have been reported related to the recalls announced Wednesday. But two reports of fires are linked to one of the problems, a defective engine starter that can keep the motor running, The Associated Press reported.
Some vehicles were recalled for more than one problem. The recall cases total 6.76 million vehicles for 27 Toyota models, the Pontiac Vibe and the Subaru Trezia, produced from April 2004 through August 2013.
Toyota shares fell 1.7% in premarket trading to $107.04.
5. -- The National Highway Traffic Safety Administration is fining General Motors
The NHTSA said in a letter to the automaker in Tuesday that the company already owes $28,000 in fines, and they will accrue at $7,000 per day until it provides all the requested information.
Reuters, citing supplier sources, reported the GM's Chevrolet is planning to sell two versions of the redesigned 2016 Volt , including a lower-priced model with a smaller battery pack and shorter driving range.
The second-generation Volt is slated to go into production in about 16 months at GM's Detroit Hamtramck plant, the sources said.
GM shares declined 2% in premarket trading to $33.85.
6. -- Alcoa
The aluminum giant recorded adjusted net income of $98 million, or 9 cents a share, in the three months to March. Analysts were looking for profit of 5 cents a share.
On an unadjusted basis, the company swung to a loss of $178 million, or 16 cents a share.