Nov. 19 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Tuesday, Nov. 19:
1.-- U.S. stock futures were pointing to a weak start for Wall Street on Tuesday following comments from investor Carl Icahn that the stock market could "easily have a big drop."
Icahn's comments came Monday during the Reuters Global Investment Outlook Summit.
Icahn said valuations are too rich and many corporate earnings are a "mirage."
European stocks were moving lower. Asian shares finished Tuesday's session lower. Japan's Nikkei 225 stock average closed down 0.3%.
2.-- The economic calendar in the U.S. Tuesday includes the third-quarter Employment Cost Index at 8:30 a.m. EST.
3.--U.S. stocks on Monday closed short of record highs Monday as investors weighed China's announcements to pursue economic reforms in its banking sector and ease its decades-old one-child policy.
The S&P 500 pulled back on Monday to close down 0.38% to 1,791.36. The Dow rose 0.07% to 15,973.26, while the Nasdaq slid 0.93% to 3,948.77.
According to the report -- filed Monday evening and citing unnamed sources -- the nation's largest bank by total assets agreed as part of the settlement to pay $4 billion "to help distressed homeowners." This assistance will include principal write-downs of between $1.5 billion and $1.7 billion for borrowers whose mortgage loans are held by JPMorgan Chase, with loan balances exceeding the value of the collateral homes. Another $300 million to $500 million will be allocated to restructuring loans to reduce monthly payments.
A public announcement could be made as soon as Tuesday, the Journal reported.
5.-- Home Depot
The software giant's next CEO isn't expected to be named at the meeting. Ford
7.-- Dropbox, the online-storage service, is raising a funding round that could value it at more than $8 billion, the Journal reported, citing people familiar with the situation.