Central bankers meet; Venezuela default; Wild Wings flying high

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1. Central bank chatter: Top central bankers appeared Tuesday at a conference in Frankfurt, Germany.

The heads of the Federal Reserve, European Central Bank, Bank of England and Bank of Japan appeared on a panel to discuss how they communicate with the public.

Each agreed the need to be transparent and to use plain language when discussing policy moves.

Governor Mark Carney said that in addition to using social media to communicate with the public, the Bank of England now limits internal memos to a maximum of six pages.

2. Default in Caracas: Venezuela, a nation spiraling into a humanitarian crisis, has defaulted on its debt, according to a statement issued Monday night by S&P Global Ratings.

The agency said the 30-day grace period had expired for a payment that was due in October.

The default risks setting off a dangerous series of events that could exacerbate food and medical shortages in the country.

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3. Stocks to watch: Shares in Buffalo Wild Wings (BWLD) are set to surge by about 30% following reports that private equity firm Roark Capital is trying to purchase the chain.

Roark Capital, which is based in Atlanta, owns a range of restaurant chains including Arby's and Auntie Anne's.

Shares in Madison Square Garden Company (MSG) could also be on the move after the firm announced CEO David O'Connor has left the business. The stock hit a record high last week.

Dick's Sporting Goods (DKS), Home Depot (HD) and TJX (TJX) are among the firms reporting earnings before the opening bell.

4. Global market overview: U.S. stock futures were slightly lower, trading just below all-time highs set earlier this month.

European markets were mostly negative in afternoon trading. Traders are digesting an inflation report from the U.K. that shows prices rose by 3% in October from last year.

Stocks in Germany were flat after the country reported better-than-expected GDP data.

"It will not get better than this," economists at Berenberg Bank said of the 0.8% expansion over the previous quarter. The bank raised its forecast for annual GDP growth from 2.2% to 2.5%.

Most Asian markets ended the day with modest losses.

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5. Coming this week:

Tuesday -- Home Depot (HD), TJX (TJX) earnings
Wednesday -- Target (TGT), Cisco (CSCO), L Brands (LB) earnings; U.S. retail sales for October; U.K. unemployment
Thursday -- Best Buy (BBY), Walmart (WMT), Gap (GPS), Viacom (VIA) earnings
Friday -- Abercrombie & Fitch (ANF) earnings