Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Nov. 14 Premarket Briefing: 10 Things You Should Know

Tickers in this article: BA CSCO FB KSS WMT

Here are 10 things you should know for Thursday, Nov. 14:

1.-- U.S. stock futures were rising Thursday after prepared comments by incoming  Federal Reserve chief Janet Yellen suggested the central bank won't reduce its economic stimulus until March 2014 at the earliest.

Yellen is scheduled to testify before the Senate banking committee later Thursday at her confirmation hearing.

European stocks were higher in early trading. Asian shares ended Thursday's session with gains. Japan's Nikkei 225 jumped 2.1%.

2.-- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EST, the trade balance for September at 8:30 a.m., and preliminary productivity and unit labor costs for the third quarter at 8:30 a.m. 

3.
--U.S. stocks  on Wednesday rose, boosted by a strong quarter from department store operator Macy's , which offset concern the  Federal Reserve  will curb its economic stimulus program in December. 

The S&P 500  gained 0.81% to 1,782, while the Dow Jones Industrial Average added 0.45% to 15,821.63. The Nasdaq popped 1.16% to 3,965.58.

4.-- Wal-Mart , the world's biggest retailer, is expected by Wall Street on Thursday to report third-quarter earnings of $1.13 a share on revenue of $116.84 billion. In the year-earlier quarter, Wal-Mart earned $1.08 a share on net sales of $113.93 billion.

5.-- Members of the International Association of Machinists District 751 voted overwhelmingly late Wednesday to reject an eight-year contract extension from Boeing  that would have let them build the company's newest plane in Washington state.

In response, Boeing said it would begin a bid process to find a home for its 777X production line.

Union members who called for a no vote did so in protest of Boeing's push to end a traditional pension plan and increase their health care costs. Workers would have received a $10,000 signing bonus if they approved the deal.

6.-- Networking-equipment giant Cisco reported Wednesday fiscal first-quarter revenue that missed Wall Street estimates, weighed down by weak spending that has hurt rival tech heavyweights.  

Cisco reported revenue of $12.1 billion, an increase of 2% from the prior year's quarter, but below analysts' forecasts of $12.34 billion. 
Excluding items, Cisco reported earnings of 53 cents a share, up from 48 cents a share a year earlier. Analysts were looking for earnings of 51 cents a share.

CEO John Chambers highlighted the "inconsistent" macro environment that has affected some of the company's peers this earnings season. Weakness in emerging markets also weighed heavily on Cisco's numbers, the CEO said.

7.-- Snapchat
co-founder Evan Spiegel in recent weeks spurned an all-cash offer from Facebook for close to $3 billion, The Wall Street Journal reported, citing people briefed on the matter.

The offer, and rebuff, came as Snapchat, the mobile messaging startup, is being wooed by other investors and potential acquirers, according to the Journal. Chinese Internet company Tencent had offered to lead an investment that would value Snapchat at $4 billion, the Journal reported.