Jan. 15 Premarket Briefing: 10 Things You Should Know (Update 1)
Here are 10 things you should know for Wednesday, Jan. 15:
1.-- U.S. stock futures were higher Wednesday but trimming gains after the World Bank predicted global growth will rise to 3.2% this year from 2.4% in 2013, and after earnings from Bank of America
European stocks were rising. Asian shares finished Wednesday's session mostly higher. Japan's Nikkei 225 index rose 2.5%, a reversal from Tuesday's 3.1% decline.
2.-- The Producer Price Index for December rose 0.4%, while core PPI rose 0.3%, in line with the estimates of economists.
The Empire State Manufacturing Index for January jumped to 12.5.
The release of the Federal Reserve's "Beige Book" for January is scheduled for 2 p.m. EST.
3.-- U.S. stocks on Tuesday bounced back Tuesday, with the S&P 500 garnering its strongest session of the year, as Federal Reserve voting members Richard Fisher and Charles Plosser bolstered confidence in the economic recovery by emphasizing their support for central bank tapering.
The S&P 500 gained 1.08% to close at 1,838.88, the Dow Jones Industrial Average added 0.71% to finish at 16,373.86, and the Nasdaq advanced 1.69% to 4,183.02.
4.-- General Motors
The new dividend is payable in March.
The automaker hasn't paid a dividend since June 2008, when it suspended its dividend of 25 cents a share. GM filed for bankruptcy in 2009.
GM also named Chuck Stevens as chief financial officer. Stevens, who was financial chief of GM's North America division, replaces Dan Ammann, who will become the company's president.
GM shares fell 1% to $39.62.
5.-- Bank of America
Analysts polled by Bloomberg expected earnings of 27 cents a share.
Net income for 2013 was $11.4 billion, or 90 cents a share, compared with $4.2 billion, or 25 cents a share, during 2012.
"We enter this year with one of the strongest balance sheets in our company's history," said Bank of America Chief Financial Officer Bruce Thompson in a press release. "Capital and liquidity are at record levels, credit losses are at historic lows, our cost savings initiatives are on track and yielding significant savings, and our businesses are seeing good momentum."
Shares were rising 2.9% to $17.26.