Facebook is holding its annual meeting in Santa Clara, California at 2 p.m. ET.

Compiled by Matthew J. Belvedere and Peter Schacknow Send this email to a friend › More Pre-Markets Data IN THE NEWS TODAY U.S. stock futures were higher this morning, ahead of important economic data and after Wednesday's powerful rally that retraced some of the recent sharp losses on Wall Street. (CNBC) The World Bank has become the latest global organization to urge the Fed to delay raising U.S. interest rates until 2016, amid growing expectations the central bank could hike as early as September. (CNBC) The 10-year Treasury yield hit an 8-month high, just shy of 2.50 percent on Wednesday. This morning, U.S. bond yields edged higher as did rates on the German bund, trading on either side of 1 percent. (CNBC) The supply of oil from OPEC last month reached the highest level since August 2012, according to the latest market report from the International Energy Agency. Crude prices were under pressure this morning. (CNBC) Nike (NKE) will take over the rights to outfit the National Basketball Association in 2017. Earlier this year, Germany-based Adidas decided not to renew its NBA uniform contract. (WSJ) New York law enforcement officials have written this week to eBay(EBAY) and PayPal, the unit it's set to spin off, saying their revised user policies "raise issues" under consumer protection laws. (Reuters) The European Commission today launched a formal antitrust investigation into Amazon's (AMZN) e-book business, opening yet another front in mounting EU scrutiny of America's global tech giants. (The Verge) Google (GOOG), famous for ambitious projects to build self-driving cars and high-altitude Internet-delivering balloons, is now taking aim at fixing city life through a new initiative called Sidewalk Labs. (USA Today) Revealing a price tag for the first time, Microsoft (MSFT) will sell a bigger version of its new, wall-mounted video-conferencing and digital whiteboard device for $20,000. (Reuters) Privately-held J.Crew is reducing its corporate staff and ousted its lead women's fashion designer amid a sales slump. The fashion retailer is cutting 175 full-time jobs, mostly at its New York City headquarters. (USA Today) Meredith Whitney shut her fledgling hedge fund, a setback for the ex-banking analyst who became one of Wall Street's highest-profile women in the last financial crisis but ran into challenges. (WSJ) Los Angeles officials have given final approval to an ordinanceraising the minimum wage in America's second-largest city to $15 an hour by 2020 from the current $9 level. (Reuters) BY THE NUMBERS Investors will be watching two economic reports issued at 8:30 a.m. ET: the government's weekly jobless claims numbers and May retail sales. Meanwhile, at 10 a.m. ET, business inventories for April are out, while the weekly report on natural gas inventories is released at 10:30 a.m. ET. There are no major companies issuing earnings this morning, but theafter-the-bell list includes newly public restaurant chain Bojangles(BOJA), consulting firm Korn/Ferry (KFY), and retailer Restoration Hardwar e (RH). In earnings late Wednesday: Men's Wearhouse (MW) reported adjusted quarterly profit of 54 cents per share, beating estimates by 2 cents, with revenue also above forecasts. The clothing retailer also signed a deal with Macy's (M) to operate tuxedo rental stores. Krispy Kreme (KKD) beat estimates by 2 cents with adjusted quarterly profit of 24 cents per share, though revenue fell slightly short. Comparable store sales for the doughnut chain were up 5.2 percent during the quarter, amid improving profit margins. Box (BOX) lost an adjusted 28 cents per share for its most recent quarter, 3 cents smaller than analysts were anticipating, and revenue was above expectations. The cloud storage provider also raised its forecasts for the full year on an increase in subscriptions. STOCKS TO WATCH Shopify (SHOP) and Facebook (FB) are expanding a beta test ofFacebook's (FB) new buy button, which allows consumers to buy goods without leaving the social network. Meanwhile, Facebook is holding its annual meeting in Santa Clara, California at 2 p.m. ET. An FDA panel has given a positive recommendation to Amgen's (AMGN) cholesterol drug Repatha, saying the treatment should be approved for patients with dangerously high levels, but long-term studies are still needed. Britain is projected to lose money initially when it begins selling its 80 percent stake in Royal Bank of Scotland (RBS), according to theNew York Times. The U.K. government bailed out the bank during the financial crisis. In airline news: Delta Air Lines (DAL) pilots union leaders approved the terms of a new tentative labor agreement, clearing the way for a vote by union members. Meanwhile, JetBlue (JBLU) reported its load factor for May at 85.7 percent, an improvement of 0.5 percent from a year earlier. WATERCOOLER Playing down the threat from Apple's (AAPL) new streaming music service, the founder of rival Spotify said the industry is big enough for several players and his firm does not have to be number one. (Reuters) After introducing unlimited vacations last year, billionaire Richard Branson's Virgin Group introduced full pay parental leave for new mothers and fathers for up to a year. (CNBC)