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Syria bombing and Janet Yellen Talks–5 Things to Know Today

Janet Yellen Testifies Before House Financial Services CommitteeJanet Yellen Testifies Before House Financial Services Committee
Federal Reserve Chair Janet Yellen.Photograph by Chip Somodevilla — Getty Images

Hello friends and Fortune readers.

Wall Street stock futures are slightly higher this morning as anticipation of more stimulus from the European Central at its meeting Thursday pushes European and Asian markets higher. Deutsche Bank notes that the ECB’s increasingly aggressive money-printing has led to huge portfolio outflows from the Eurozone to other markets in the last year. The dollar, however, is little changed against the euro, just under $1.06, while crude oil futures are still stuck below $42 a barrel ahead of Friday’s OPEC meeting.

Today’s must-read story is by Fortune’s Claire Zillman on the student loan paradox plaguing the U.S.: Those with small student loan balances are the ones that are more likely to be delinquent.

Here’s what else you need to know today.

1. U.K. set to join bombing of Syria

The U.K. is set to join the ranks of countries bombing Syria later Wednesday, in the latest reaction to the terrorist attacks in Paris claimed by Islamic State. The House of Commons is set to approve the measures with a big majority after the pacifist leader of the Labour Party, Jeremy Corbyn, said he would allow his lawmakers a free vote, rather than impose a party whip. The Commons had refused the government permission to bomb Syrian government forces two years ago, but today’s bill is about bombing Islamic State positions in the country. Public support for intervention is still lukewarm due to the perceived lack of an overarching political strategy for the country.

2. Janet Yellen talks.

Federal Reserve Chair Janet Yellen will discuss the economic outlook for the U.S. when she talks at the Economic Club of Washington today at 12:25 p.m. ET. Investors have been carefully listening to Yellen’s remarks as they gauge when the Fed will consider raising interest rates. The Federal Open Markets Committee will meet for the final time this year in two weeks, and many economists are expecting the group to finally raise rates following that gathering.

3. November jobs update and more.

ADP releases its National Employment Report today ahead of the Labor Department’s estimates on Friday. Private employers are likely to have added 190,000 jobs last month, building on a strong October jobs report.

Also out today: U.S. productivity levels, which likely expanded faster than expected in the third quarter. The Fed will also release its Beige Book, a collection of anecdotes from around the U.S. on the state of the economy.

4. Yahoo board meeting

The board of Yahoo! starts a key meeting to decide on its future strategy. The company has come under pressure from outside shareholders to separate its higher-growth assets–notably its stake in Chinese e-commerce company Alibaba Group–from its struggling core search and e-mail businesses, but such a split would be complicated by the fact that it could land the company with a large tax bill. The meeting is also being seen as a judgment on CEO Marissa Meyer’s stewardship of the company.

5. Box reports

Cloud storage company Box (BOX) reports its third-quarter earnings after the market close today. Analysts expect revenues of $76 million, helped by strong new user signups last quarter. Though, the strong revenues won’t off set higher costs, with an estimated loss per share of 31 cents. Box signed a deal with IBM (IBM) earlier this year that would create joint products and provide built-in support for each other’s technologies. The financial impact didn’t come through in Box’s second-quarter earnings, so investors will be looking carefully for any effect this time around.

The Additional reporting contributed by Reuters.