March 18 Premarket Briefing: 10 Things You Should Know
Updated from 6:50 a.m. EDT
Here are 10 things you should know for Tuesday, March 18:
1.-- U.S. stock futures were pointing to a weaker start for Wall Street on Tuesday as Federal Reserve Chairwoman Janet Yellen presides over her first policy-making meeting as chief of the central bank.
European stocks were lower. Asian shares ended the session with gains. Japan's Niikkei 225 rose 0.9%.
2.-- The economic calendar in the U.S. on Tuesday includes housing starts and building permits for February at 8:30 a.m. EDT and the Consumer Price Index for February at 8:30 a.m. The Federal Open Market Committee two-day meeting begins Tuesday.
3.-- U.S. stocks on Monday closed higher in a relief rally after the absence of military violence surrounding the weekend's Crimea vote. Domestic industrial production rebounded, pointing to ongoing improvement in the domestic economy.
The Dow Jones Industrial Average rose 1.13% to close at 16,247.22 while the S&P 500 gained 0.96% to 1,858.83. The Nasdaq rose 0.81% to 4,279.95.
4.-- General Motors
In a video message to employees posted Monday, Barra said the new recall resulted from a push to review potential safety issues and resolve them more quickly.
It's part of the fallout from the recall last month of more than 1.6 million small cars for defective engine switches. The defect is linked to 12 deaths, and GM is facing multiple investigations into how it handled the recall. GM first began investigating the switches in 2004.
"Something went wrong with our process in this instance, and terrible things happened," Barra said.
GM said it expects to spend about $300 million in the first quarter to repair the vehicles in the new recalls as well as the vehicles in the small car recall.
GM shares rose 0.2% in premarket trading.
5. -- Wal-Mart
Starting March 26, approximately 3,100 U.S. Wal-Mart stores will begin buying back used video games, the company announced. The new program will add to Wal-Mart's mobile device trade-in program, which was launched last year.
6. -- Software maker Oracle
In premarket trading, Oracle shares rose 0.7% to $38.50.
7. -- American Express