It’s a busy Wednesday but markets are looking calm.
U.S. stock futures are edging higher, with the S&P and Dow futures both up about 0.1%.
Here are five things you need to know before the opening bell rings in New York:
1. China slows: The world’s second largest economy grew at its slowest pace in six years, intensifying pressure on the government to boost stimulus measures. China’s GDP expanded by 7% in the first three months of 2015. That was in line with expectations but down from 7.3% in the fourth quarter of 2014.
2. Telecoms and tech: Nokia confirmed it is buying Alcatel-Lucent in a €15.6 billion ($16.6 billion) deal that will create a telecoms equipment giant. Nokia shares gained 1.5%, while Alcatel’s stock sank nearly 12% after jumping 16% Tuesday on news of the takeover talks.
Google is another tech stock to watch today. Media reports suggest European regulators are preparing to file formal charges after a long running antitrust investigation over concerns the search giant has too much market power.
3. ECB meeting: The European Central Bank is expected leave interest rates at ultra-low levels when it delivers a policy update later Wednesday. Investors will be looking for comments from president Mario Draghi on the outlook for its massive bond buying program launched last month in a bid to boost the economy.
They’ll also pay close attention to Draghi’s remarks on the state of talks with Greece over its bailout program. Greece needs to reach a deal on economic reforms with its European creditors and the IMF by the end of April or face default on its massive debt.
4. Earnings and economics: Bank of America, PNC and Delta Airlines will report ahead of the open. Netflix delivers its results after the close.
On the economic front, the NAHB/Wells Fargo Housing Market Index will be updated at 10 a.m. ET. The Federal Reserve will publish its Beige Book report on the economy at 2 p.m. ET.
5. International markets overview: European markets were rising in early trading. Burberry was a notable mover, with shares up 2% in London trading, after the luxury goods maker reported a rise in second half sales.
Most Asian markets finished with modest losses, though China’s Shanghai Composite dropped 1.2% on the fall in GDP.
On Tuesday the Dow Jones industrial average gained 60 points, while the S&P 500 rose 0.2% and the Nasdaq slid 0.22%.
