May 27 Premarket Briefing: 10 Things You Should Know

Tickers in this article: AAPL AZN AZO BAC GOOG INTU PFE SI
Updated from 6:04 a.m. EDT.

Here are 10 things you should know for Tuesday, May 27:

1. 
-- U.S. stock futures were rising Tuesday while European shares gained on hopes for easier monetary policy.

Asian stocks ended the session mixed. Japan's Nikkei 225 index rose 0.2%.

2. -- The  economic calendar  in the U.S. on Tuesday includes durable-goods order for April at 8:30 a.m. EDT, the Case-Shiller 20-city Index for March at 9 a.m., the FHFA Housing Price Index for March at 9 a.m., and consumer confidence for May at 10 a.m.

3. -- U.S. stocks  on Friday (markets in the U.S. were closed Monday for Memorial Day) rose, with the  S&P 500  closing above 1,900 for the first time ever after stronger-than-expected new home sales in April provided further evidence of a housing recovery.

The Dow Jones Industrial Average  rose 0.38% to close at 16,606.27. The  S&P 500  closed 0.42% higher at 1,900.53, breaking its record close of 1,897.45 on May 13. The  Nasdaq gained 0.76% to 4,185.81.

4. -- Pfizer pulled the plug on a takeover of British drugmaker AstraZeneca , in what would have been the largest deal in the pharmaceutical industry's history. 

The announcement came a week after AstraZeneca's board rejected a $119 billion buyout proposal from Pfizer of New York.

Pfizer had until 5 p.m. local time in London on Monday to extend a firm offer for AstraZeneca or declare its intent not to do so. Under U.K. law, Pfizer now can't make another offer for six months.

Pfizer shares rose 0.7% in premarket trading to $29.70. AstraZeneca shares fell 1.6% to $71.15.

5. -- Apple  is readying a new software platform that would turn the iPhone into a remote control for lights, security systems and other household appliances, as part of a move into the " Internet of things ," the Financial Times reported.

Apple plans to take on rivals  Google  and  Samsung and make a "big play" in the world of smart home technology at its Worldwide Developer Conference on June 2 in San Francisco, according to people familiar with the matter, the FT reported.

Apple's integrated system will make it easier to set up and control new "smart home" devices. Such a system was outlined in an Apple parent filing, published last November, the newspaper reported.

Apple shares rose 0.7% to $618.34 in premarket trading.

6. -- A change in wording on Federal Reserve forms earlier this year helped  Bank of America  verify it had made a $4 billion error in calculating its capital, The Wall Street Journal reported, citing a person familiar with the matter, jeopardizing its plans for a stock buyback and a boost to its dividend.

Bank of America disclosed the mistake late last month. Staff began to suspect the bank had been miscalculating its regulatory capital when they prepared Bank of America's first-quarter filing with the Securities and Exchange Commission in April, the person said.