May 6 Premarket Briefing: 10 Things You Should Know
Updated from 6:41 a.m. EDT
Here are 10 things you should know for Tuesday, May 6:
1. -- U.S. stock futures were rising Tuesday while European shares struggled to find direction after a mixed day of trading in Asia amid escalating tensions in Ukraine.
China's benchmark Shanghai Composite Index closed flat at 2,028.04. Markets in Tokyo, Hong Kong and Seoul were closed for holidays.
2. -- The economic calendar in the U.S. on Tuesday includes the trade balance for March at 8:30 a.m. EDT.
3. -- U.S. stocks on Monday closed higher, offsetting earlier losses after manufacturing in China contracted and tensions in Ukraine rose.
The Dow Jones Industrial Average closed 0.11% higher at 16,530.55, while the S&P 500 increased 0.19% to 1,884.66. The Nasdaq added 0.34% to finish at 4,138.06.
4. -- U.S. prosecutors were close to securing a guilty plea and a settlement of more than $1 billion from Credit Suisse
The Justice Department has been pushing Credit Suisse to plead guilty to a crime and U.S. officials have become more confident they can get such an agreement from the bank in the coming days, the people told the newspaper. A spokesman for Credit Suisse declined to comment for the Journal.
Credit Suisse shares rose 0.1% in premarket trading.
5. -- Merck
The sale is expected to close in the second half of the year.
Merck said Tuesday it expects after-tax proceeds from the sale of the division of $8 billion to $9 billion.
Merck shares rose 0.6% in premarket trading to $59.
6. -- Walt Disney
7. -- American International Group
Earnings were $1.61 billion, or $1.09 a share, down from $2.21 billion, or $1.49 a share, a year earlier.
Its after-tax operating income, which excludes realized capital gains and losses among other items, fell to $1.21 a share; analysts were looking for $1.07 a share.
The stock fell 2.5% in premarket trading to $51.40.
8. -- Wall Street expects daily deals site Groupon
9. -- UBS
UBS issued a cautious outlook on the global economy.
"The continued absence of sustained and credible improvements to unresolved issues in Europe, continuing U.S. fiscal and monetary policy issues, geopolitical instability and the mixed outlook for global growth would make improvements in prevailing market conditions unlikely," the bank said.