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June 5 Premarket Briefing: 10 Things You Should Know

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Here are 10 things you should know for Thursday, June 5:

1. -- U.S. stock futures were trading mixed early Thursday ahead of the monthly meeting of the European Central Bank.

ECB President Mario Draghi has hinted at possible stimulus measures, which could include a rate cut or other measures to spur economic recovery and avoid deflation.

European stocks drifted lower. Asian stocks ended Thursday's session mixed.

2. -- The  economic calendar  in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT.

3. -- U.S. stocks  on Wednesday rose modestly, as investors waited to hear a decision on interest rates from the ECB. 

The S&P 500  added 0.19% to close at 1,927.88, the  Dow Jones Industrial Average  rose 0.9% to 16,737.53, while the  Nasdaq climbed 0.41% to 4,251.64.

4. -- Sprint  and T-Mobile US  have agreed on the broad outlines of a merger valuing T-Mobile at around $32 billion, The Wall Street Journal reported, citing people familiar with the matter.

The terms involve Sprint paying around $40 a share for T-Mobile in an acquisition that could happen early this summer, the people told the Journal. The companies are still working toward a formal contract. If the deal is completed, it would combine the country's third- and fourth-largest wireless operators

A deal would need the approval of the Federal Communications Commission and the Justice Department. 

5. -- An internal probe of  General Motors'  delay in recalling defective cars is expected to conclude there was no concerted cover-up, but that managers operating in isolation failed to make connections and act on evidence of problems now linked to fatal accidents, people familiar with the situation told the Journal.

The findings of the investigation by former U.S. prosecutor Anton Valukas will be released Thursday.

GM CEO  Mary Barra  is expected to outline new steps to overhaul GM's culture and management, including the departures of more employees, the people said.

6. -- Medtronic is evaluating a takeover of London-based  Smith & Nephew that could see the U.S. company move its tax domicile overseas, people familiar with the matter told Bloomberg.

Smith & Nephew, with a market value of about 9.5 billion pounds ($15.9 billion), is aware of Medtronic's interest as are investment banks, said two of the people. Medtronic's preparations for a bid are at an early stage and no offer is imminent, the people told Bloomberg.

Medtronic is a more serious bidder for Smith & Nephew than  Stryker , another U.S. maker of medical devices, said one of the people. Stryker Chief Executive Officer Kevin Lobo said last week the company was in the early stages of evaluating a bid.

7. -- Twitter has considered buying online music services including Soundcloud and Spotify in recent months, The Financial Times reported.