10 things you need to know before the opening bell
Here's what's going on.
1. Iran fires more than a dozen ballistic missiles at US forces in Iraq in apparent retaliation for the killing of top Iranian general Qassem Soleimani. The FAA banned US airlines from flying over Iran and Iraq after the attack.
2. Here's why markets are oddly subdued after Iran's attack on US bases in Iraq. Gold punched above $1,600 for the first time since 2013, and oil spiked. But the gains fizzled. "They've barely scratched the US," says an analyst.
3. Here's everything we know so far about the crash involving a Ukraine International Airlines Boeing 737 in Iran.
The Ukraine International Airlines plane was still new and had recently been tested, but authorities have distanced the incident from terrorism. 176 were killed in the crash.
4. Apple could be headed for another battle with the FBI after the agency requested help unlocking 2 iPhones belonging to the suspected Florida shooter. The case bears similarities to the San Bernardino shooting of 2015, which led to a major standoff between the FBI and Apple.
5. Carlos Ghosn rips Nissan's investigation into his alleged conduct at the company, calling it a 'gross perversion of the truth.' Carlos Ghosn, who is in Lebanon after escaping Japan, is expected to give a press conference Wednesday afternoon from Beirut.
6. Walgreens first-quarter profit falls nearly 25% on higher costs. Drugstore chain Walgreens Boots Alliance posted a 24.8% drop in quarterly profit on Wednesday, hurt by higher costs related to its acquisition of stores from rival Rite Aid .
7. US presidential candidate Michael Bloomberg says business experience is key to beating Trump. Bloomberg on Wednesday unveiled an economic strategy based on what he sees as his key strengths: a successful career in business and three terms as mayor of New York.
8. Stocks are mostly rising. US futures underlying the Dow, the Nasdaq, and the S&P 500 are up less than +0.2%, pointing to soft gains at the open. European stocks followed with the FTSE 100 flat, the DAX (+0.3%), and the Euro Stoxx 50 up (+0.2%). Asian stocks declined with the Shanghai Composite off (-1.2%), and the Nikkei (-1.6%) and Hang Seng (-0.8%) also falling.
9. There are some earnings on the calendar today. Aeon and WD-40 are highlights.
10. On the data docket today: MBA Mortgage Applications and ADP Employment Change are highlights.