5 Things You Should Know Before the Stock Market Opens
By Joseph Woelfel - 05/16/12 - 6:04 AM EDTTheStreet) -- U.S. stock futures were pointing lower Wednesday, following European shares to the downside after Greece's political leaders failed to form a coalition government. Investors in Asia also fretted over the political turmoil in Greece, sending shares lower. Japan's Nikkei 225 index declined 1.5% Wednesday to 8,771.60. The failure by Greece's leaders to form a new government means new elections must be held in June. The economic calendar in the U.S. Wednesday includes housing starts and building permits for April at 8:30 a.m. EDT, industrial production and capacity utilization for April at 9:15 a.m., and the release of the minutes of the last meeting of the Federal Open Market Committee at 2 p.m.
Speaking of Facebook, the No. 1 social network reportedly plans to increase the size of its initial public offering by 25% because of strong investor demand and could raise as much as $16 billion. Facebook will add about 85 million shares to its IPO, floating about 422 million shares in an offering expected on Friday, a source told Reuters.
Activist shareholder Relational Investors has acquired a roughly $600 million stake in PepsiCo
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