Stock Market Futures Eyeing Syrian Airstrikes, Eurozone Concerns, and CFG IPO By Garrett Baldwin

Stock market today, September 24, 2014: Stock market futuresare up this morning about 0.2% for the major indices, a day after the S&P 500 fell for a third session in a row and the Dow Jones Industrial Average plunged 116 points. This all happened as U.S. airstrikes on Syria and continuing economic problems in the European Union and China rattled global markets. President Barack Obama said that the U.S. military will continue its airstrikes against ISIS fighters, raising new concerns in the international community.

Yesterday's downturn in U.S. markets followed a slide in European markets, which struggled on news of weakening business activity in France and decline in German manufacturing activity this month. This morning, the Dow Jones announced that German business confidence continues to erode as well. In September, the nation's Ifo business-climate index slipped to 104.7, falling short of forecasts for a 105.8 level. The European Central Bank may need to hike its stimulus efforts to stave off recession in the continent's largest economy. Italy is already in a recession.

Here's what else you should know to make your Wednesday profitable:

• A Post Alibaba IPO World: Listed on the New York Stock Exchange as (NYSE: CFG), Citizens Financial Group Inc. will begin trading today after its initial public offering. The U.S. subsidiary of Royal Bank of Scotland Group Plc (NYSE: RBS) raised $3 billion during its IPO. However, shares sold below their initial expected range. The company sold 140 million shares at $21.50 each, but it had originally priced these shares at $23 to $25 each.

• Bad Breach: The massive data breach at The Home Depot Inc. (NYSE: HD), which affected 56 million credit and debit cards, has taken a bad turn. According to reports, customers are now reporting a number of fraudulent charges, while others have seen their bank accounts drained. The cyber thieves have used the cards to purchase prepaid credit cards, fuel up their cars, and fill other purchases. The home retailer had hoped to keep the breach contained. Shares of HD were down marginally in pre-market hours.

• Upgraded: Shares of Rio Tinto Plc (ADR) (NYSE: RIO) were up more than 1% in premarket hours on news that the company received an upgrade from JPMorgan Chase & Co. (NYSE: JPM). The positive news comes at a time that many mining stocks, particularly those in Europe, have been slumping due to concerns about economic growth in China.

• Merger Mania: The Wall Street Journal reports that Pfizer Plc (NYSE: PFE) had approached Irish drug maker Actavis Plc (NYSE: ACT) recently about a proposed takeover that would have allowed the U.S. firm to re-domicile in Europe and lower its tax bill. However, the talks have broken down. Given the new rules revealed this week by the U.S. Department of Treasury, any inversions moving forward would be more difficult to implement.

• Wal-Bank: The largest retailer in America is preparing a foray into banking. The New York Times reports that Wal-Mart Stores Inc. (NYSE: WMT) is teaming up with prepaid payment firm Green Dot to offer checking accounts to customers over the age of 18. The offering is a suitable alternative for Americans with subprime level credit, as the services offer a low-cost alternative to traditional bank accounts, including zero fees for overdrafts or bounced checks. The account fee of $8.95 per month will also be waived if a customer maintains a balance of $500 or more.

• Ebola Update: Shares of Tekmira Pharmaceuticals Corp. (Nasdaq: TKMR) were up again this morning in premarket hours on news that the company's experimental Ebola drug was used on an American doctor who was exposed to the deadly disease and that its drug received a temporary approval from the FDA to treat existing cases. The U.S. Centers for Disease Control and Prevention published a report on Tuesday that as many as 1.4 million people could be infected by the disease by January 1.

• Earnings Reports: Stay tuned for earnings reports from Accenture Plc (NYSE: ACN), KB Home (NYSE: KBH), Paychex Inc. (Nasdaq: PAYX), and Vail Resorts Inc. (NYSE: MTN).

• Today's Economic Calendar: Today's schedule features two speeches from members of the Fed Open Market Committee, the EIA Petroleum Status Report, and a monthly update on new home sales.

Full U.S. Economic Calendar September 24, 2014

• MBA Purchase Applications at 7 a.m.
• New Home Sales at 10 a.m.
• EIA Petroleum Status Report at 10:30 a.m.
• 2-Yr FRN Auction at 11:30 a.m.
• Cleveland Federal Reserve Bank President Loretta Mester speaks at 12:05 p.m.
• Chicago Federal Reserve Bank President Charles Evans speaks at 1 p.m.
• 5-Yr Note Auction at 1 p.m.

Next Up: The SEC is investigating whether Washington leaked insider information to hedge fund managers. If you weren't already convinced that our public servants are greedy, dirty, and corrupt, this should change your mind...