Economy
The tobacco industry is gearing up for its next serious challenge, as more cities raise the legal age for buying tobacco products to 21. As states ponder similar moves, the $100B U.S. tobacco industry could suffer yet another large blow over consumer sales. The FDA is also expected to weigh in on the matter early next year, after it receives a report from the Institute of Medicine evaluating the potential benefits of increasing the age to 21 or 25.

Newly re-elected President Dilma Roussef has promised that Brazil will avoid a downgrade in her second term, and that the country's economy will recover. Brazil currently stands two notches into investment-grade zone for Moody's and Fitch, although Standard & Poor's previously cut the government's debt to near-junk level. Separately, Brazil's central bank will likely keep interest rates steady for a fourth straight time today, holding its ground until Rousseff announces changes to economic policy.

Stocks
Facebook shares are -7.4% premarket following the company's warning of a dramatic increase in spending in 2015 and projected slowdown in revenue growth this quarter. Facebook (NASDAQ:FB) CFO Dave Wehner says the social network is preparing for a 55%-75% spike in expenses next year, when the world's largest social network intends to invest in Whatsapp, Oculus and other products that have yet to show a profit.

Sanofi says Christopher Viehbacher has resigned as CEO after its board unanimously decided to remove him. Chairman Serge Weinberg will take over as CEO on a temporary basis, and the company will re-split the roles once a permanent replacement is found. Sanofi's (NYSE:SNY) directors were reportedly upset at being caught off guard by Viehbacher's attempts to sell an $8B drug portfolio. SNY -4.8% premarket.

Looking to concentrate its efforts on wiring the developing world, Ericsson (NASDAQ:ERIC) is working on technology to build mobile networks that will require fewer locations and towers across Africa and other parts of the world. The new investment comes as growth in its main markets - including the U.S. and Japan - has peaked. Investment in 4G networks in Europe has also turned less profitable due to heavy competition from China’s Huawei Technologies.

The Federal Trade Commission sued AT&T yesterday, alleging that the company sold millions of customers "unlimited" data plans while cutting data speeds to near-impractical levels after the user crossed a usage threshold. The FTC warned Verizon over similar practices, called data throttling, earlier this month. The lawsuit seeks to bar AT&T (NYSE:T) from misleading consumers and asks for monetary relief for the alleged harm to the company’s customers.

Tokyo Electron, which is expected to be acquired by Applied Materials (NASDAQ:AMAT), has announced that the completion of their merger could take until next year due to delays in regulatory approvals. Applied Materials agreed to buy Tokyo Electron (OTCPK:TOELF) in September of last year in an all-stock deal worth more than $10B, combining the two makers of chip-making gear as demand for their products slowed.

Deutsche Bank swung to a net loss in the third quarter, as heavy legal fees outweighed a rise in investment banking. Germany’s top lender reported a net loss of €92M ($117M), on net revenues of €7.9B. Spending €894M on litigation costs during the quarter, Deutsche Bank (NYSE:DB) has now spent around €7B on fines and settlements since 2012. DB -1.5% premarket.

A decision on TransCanada's long-delayed Keystone XL pipeline may come soon, said U.S. Secretary of State John Kerry yesterday in Ottawa during a press conference with Canadian Foreign Minister John Baird. "I certainly want to do it sooner rather than later, but I can’t tell you a precise date," Kerry said. TransCanada (NYSE:TRP) has waited more than six years for the Obama administration to make a decision on the line.

Total says the recent slide in oil prices hit its third quarter earnings and could hurt its results for the rest of the year, as the French oil major recovers from the death last week of chief executive Christophe de Margerie. The company posted a 2% fall in quarterly net profit to $3.6B as the average price of the key Brent crude oil benchmark fell by 8% over the period. Total (NYSE:TOT) warns that earnings will likely decline further in Q4, with oil prices already down 11% since the end of September.

Orbital Sciences -14% premarket after its commercial supply ship bound for the International Space Station exploded moments after liftoff over a Virginia launch pad. NASA is paying Orbital Sciences (NYSE:ORB) and SpaceX to keep the space station stocked in the post-shuttle era; this is the first disaster in that effort. The U.S. vowed to continue its commercial space launch program just hours after the explosion.

Airbus is planning to commence production at its first U.S. factory in Mobile, Alabama with the A321 jetliner instead of the A320 as originally planned, reflecting the rising demand for the larger jet. The first one off the line will be the A321ceo, or "current engine option" in April 2016, with "new engine option" or A321neos, to follow later. Airbus' (OTCPK:EADSY) A321 seats about 185 passengers in a two-class configuration but can accommodate up to 220 for economy carriers.

Volkswagen is planning to launch more than 20 pure electric or plug-in hybrid models in China over the next few years, according to Reuters. Suffering from worsening pollution, China has stepped up efforts to promote use of electric cars through incentives and tougher emission rules, and has set a target of putting 5M green vehicles in use by 2020. Volkswagen (OTCQX:VLKAY) still lags rivals BMW (OTCPK:BAMXY), Tesla (NASDAQ:TSLA) and Nissan (OTCPK:NSANY) in selling pure electric cars in China.

Today's economic calendar:

7:00 MBA Mortgage Applications
10:30 EIA Petroleum Inventories
11:30 Results of $15B, 2-Year FRN Auction
1:00 PM Results of $35B, 5-Year Note Auction
2:00 PM FOMC Announcement

Notable earnings before today's open: ACCO, ADP, AIT, ALKS, ALLY, AMED, ARW, AUO, AVX, BAH, BDC, CCJ, CFR, CKSW, CMC, COT, CTCM, DXYN, ETN, EVER, EXC, GHM, GRMN, GT, H, HES, HSY, IACI, ISSI, JLL, LFUS, MHFI, MRGE, MTH, NVMI, OMG, PAG, PB, PSX, PSXP, PX, RES, RL, ROL, RYAM, SEE, SKYW, SO, SODA, SPW, SPWR, STM, TEL, TFX, UAM, UBSI, VLY, WEC, WLP, WM, XRAY

Notable earnings after today's close: ABX, ACGL, ACHC, ACMP, AEGN, AEM, AFOP, AHL, AIZ, AKAM, ALDW, ALL, ANIK, ARAY, ARII, ARRS, ASGN, ATML, AUY, AXS, BGC, BIDU, BLKB, BMR, CACI, CALX, CAR, CATM, CAVM, CBG, CBL, CEMP, CENX, CHDN, CJES, CLD, CLUB, CMO, CNW, CRL, CRUS, CSGP, CSII, CUZ, CW, CWT, DAC, DRE, DRIV, DWA, EQIX, EQY, ESRT, ESV, EXL, EXR, FBHS, FFIV, FISH, FLEX, FLTX, FMC, FNF, FORM, FORR, FR, GLUU, HBI, HOS, HT, IPI, IRG, ISIL, JDSU, KEX, KRFT, KS, LGCY, LNC, LOCK, LOPE, MAA, MANT, MASI, MDAS, MEOH, MET, MOBL, MTGE, MUR, NCLH, NE, NEU, NEWP, NSIT, OII, PDM, PEIX, PGTI, PPC, PRXL, PSMI, PVA, QGEN, QTM, QUIK, RFMD, RGR, RJF, RNG, RRC, RRTS, RST, SCI, SFLY, SGI, SIMO, SLCA, SPN, SPRT, SSNC, SSS, STR,