Jan. 14 Premarket Briefing: 10 Things You Should Know (Update 1)
Here are 10 things you should know for Tuesday, Jan. 14:
1.-- U.S. stock futures were pointing to a higher open following earnings from JPMorgan Chase
European shares were trading mixed Tuesday. Asian stocks finished mostly in the red. Japan's Nikkei 225 index closed down 3.1%.
2.-- Retail sales for December rose 0.2%, and 0.7% excluding autos. Economists polled by Reuters had expected core retail sales to rise 0.3% in December.
Business inventories for November are scheduled for 10 a.m. EST.
3.-- U.S. stocks on Monday tumbled as investors remained jittery from last week's weaker-than-expected jobs report, and the prospect that stocks are headed for a correction.
The S&P 500 slumped 1.3% to close at 1,819.20, while the Dow Jones Industrial Average dropped 1.1% to 16,257.94. The Nasdaq tumbled 1.5% to finish at 4,113.30.
4.-- Time Warner Cable
Charter said it is prepared to bring the offer directly to shareholders after determining there is "no genuine intent" from Time Warner Cable's management to engage in merger talks.
Charter CEO Thomas Rutledge late Monday made public a letter to Time Warner Cable Chairman and CEO Robert Marcus that outlined a proposal that would see Charter Communications pay in the "low $130s" for Time Warner Cable. Bloomberg reported the offer was for $132.50, consisting of $83 in cash and $49.50 in Charter stock.
Time Warner Cable shares were rising 1.6% to $134.50 in premarket trading Tuesday.
Google, the search giant, was an early investor in Nest Labs.
Analyst Shyam Patil of Wedbush Securities told The Associated Press that Google is positioning itself to offer products that work on the "Internet of Things" -- specifically a "connected home" full of intelligent wireless devices that collect data and could be controlled with a smartphone.
Google rose 1.5% to $1,139.50 ahead of the opening bell.
6.-- JPMorgan Chase
Adjusted for one-time items, earnings would have been $1.40 a share in the latest fourth quarter.
Analysts were looking for earnings per share of $1.35 on revenue of $23.685 billion.
Shares of JPMorgan were up 0.5% in premarket trading to $57.99.
7.-- Wells Fargo