May 1 Premarket Briefing: 10 Things You Should Know
Updated from 6:46 a.m. EDT
Here are 10 things you should know for Thursday, May 1:
1. -- U.S. stock futures were rising slightly early Thursday, while stocks in London were higher as most of Europe took off for the May Day holiday.
Asian shares ended the session mixed. Japan's Nikkei 225 index rose. 1.3%.
2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, personal income and personal spending for March at 8:30 a.m., the ISM Index for April at 10 a.m., and construction spending for March at 10 a.m.
3. -- U.S. stocks on Wednesday closed higher after the Federal Reserve pledged to hold rates for a considerable time after it ends its economic stimulus program, offsetting weaker-than-expected economic growth data.
The Dow Jones Industrial Average added 0.27% to 16,580.84 -- a record high closing -- while the S&P 500 increased 0.3% to 1,883.95. The Nasdaq climbed 0.27% to finish at 4,114.56.
4. -- AT&T
A combination of AT&T with satellite-TV company DirecTV would create a pay television giant close in size to where Comcast
A deal would likely be worth at least $40 billion, DirecTV's current market capitalization, a fraction of AT&T's $185 billion market capitalization, according to the newspaper.
AT&T declined to comment for the Journal , as did DirecTV.
AT& shares fell 1% in premarket trading to $35.33. DirecTV shares rose 7.3% to $83.25.
5. -- Sprint
Bloomberg reported on Wednesday that Sprint has met with half a dozen banks about securing debt financing for the bid, which may be disclosed in June or July.
A merger attempt between Sprint and T-Mobile would be the riskiest attempt at wireless consolidation since AT&T failed to buy T-Mobile in 2011. That deal was blocked by the Department of Justice, which continues to believe that a competitive wireless industry would have four nationwide players.
Sprint shares rose 5.8% in premarket trading to $8.99, while T-Mobile shares rose 7.4% to $31.45.
6. -- Exxon Mobil
7. -- Automakers, including General Motors
Sales of new cars and trucks are expected to increase 8.5% to nearly 1.4 million in April, which would make it the best April for the industry since 2005, according to J.D. Power and Associates.