A daily morning look at the financial stories you need to know to start the day.
STOCKS/ECONOMY
-Stock futures are lower after Tuesday's wild market ride ended with nearly a 600 point gain for the Dow Jones industrial average. The yield on the 10-year Treasury note is at 2.79 percent.
-Mortgage applications rose by 0.7 percent last week as rates hit four-year highs.
BUDGET BATTLES
-House Republicans have passed a short-term spending bill. The Senate seems likely to reject it. But there are reports that Senate leaders are close to a deal on a two-year budget that would boost defense spending and spending on domestic programs the Democrats want. Deficit hawks are opposed to the deal as reported.