May 27 Premarket Briefing: 10 Things You Should Know
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
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
Apple plans to take on rivals Google
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
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.