Oct. 29 Premarket Briefing: 10 Things You Should Know
NEW YORK ( TheStreet) -- Here are 10 things you should know for Tuesday, Oct. 29:
1.-- U.S. stock futures were trading flat Tuesday as traders proceeded with caution ahead of a rate decision from the Federal Reserve .
European stocks were rising while Asian shares ended Tuesday's session mostly to the downside. Japan's Nikkei 225 index declined 0.5%
2.-- The economic calendar in the U.S. Tuesday includes retail sales for September at 8:30 a.m. EDT, the Producer Price Index for September at 8:30 a.m., the Case-Shiller 20-City Index for August at 9 a.m. and the Conference Board's Consumer Confidence Index for October at 10 a.m.
3.--U.S. stocks on Monday finished little changed as investors await the latest decisions by the policy-making arm of the Fed, which is scheduled to begin two days of meetings Tuesday.
Apple, the iPod and iPhone maker, reported fiscal fourth-quarter net income of $8.26 a share on revenue of $37.5 billion as iPhone sales topped 33.8 million during the period, up from 26.9 million a year earlier. The company also sold 14.1 million iPads and 4.6 million Macs during the quarter.
Gross margin for the quarter was 37%. Apple indicated that its profit margins for the first quarter would be in the same range as the fourth quarter.
Analysts were looking for Apple to earn $7.96 a share on revenue of $36.93 billion.
5.-- The federal government is set to slap Infosys
The government is expected to announce Wednesday it will fine Infosys about $35 million, the Journal reported, citing people close to the matter. An investigation by the Department of Homeland Security and the State Department found that Infosys used easy-to-obtain B-1 visas meant to cover short business visits instead of harder-to-get H-1B work visas to bring an unknown number of its employees for long-term stays, the people told the newspaper.
But Switzerland's largest bank said it may not be able to reach its profit goals for 2015 because of Swiss regulatory demands that it hold more capital for risks from litigation.
UBS said Tuesday it recorded third-quarter charges of 586 million francs for litigation, regulatory and other related matters, and sees more regulatory challenges ahead.