Feb. 10 Premarket Briefing: 10 Things You Should Know
Updated from 6:58 a.m. EST
Here are 10 things you should know for Monday, Feb. 10:
1.-- U.S. stock futures were pointing lower on Monday but overseas markets were rising as investors looked to Tuesday when Janet Yellen will make her first comments before Congress as the new chief of the Federal Reserve .
Stocks in London, Paris and Frankfurt were posting modest gain. Stocks in Japan rose 1.8% and Shanghai's Composite index finished with a gain of 2%.
2.-- The economic calendar in the U.S. on Monday is bare.
3.-- U.S. stocks on Friday rose, recouping all losses from a broad selloff earlier in the week. U.S. stocks jumped as investors looked beyond lower-than-expected headline employment numbers for January, and found that not only did some of the largest sectors of the labor force gain ground but more people went looking for work last month.The S&P 500 gained 1.33% to finish at 1,797.02, while the Dow Jones Industrial Average rose 1.06% to 15,794.08. The Nasdaq rose 1.69% to close at 4,125.86. For the week, the S&P 500, Dow and Nasdaq gained 0.81%, 0.61% and 0.54%, respectively.
"We heard you on this topic," Armstrong wrote in a letter to employees Saturday, The Associated Press reported.
In a move to cut costs, AOL decided to pay matching 401(k) retirement contributions in one lump sum at the end of the year. Workers who left the company before the end of the year would have received no contributions, and all workers would sacrifice interest or earnings on those contributions throughout the year.
After a worker backlash, Armstrong said the company would return to depositing matching contributions every pay period throughout the year, AP reported.
AOL shares were inactive in premarket trading on Monday.
5.-- Proxy advisory firm Institutional Shareholder Services told clients they should vote against Carl Icahn's plan for Apple
"(The Apple board) has returned the bulk of its U.S.-generated cash to shareholders via aggressive stock buybacks and dividends payouts," the ISS said in its report. "In light of these good-faith efforts and its past stewardship, the board's latitude should not be constricted by a shareholder resolution that would micromanage the company's capital allocation process."
Apple CEO Timothy Cook told The Wall Street Journal last week that the company repurchased $14 billion of stock in the past two weeks, noting the iPhone and iPad maker wanted to be "aggressive" and "opportunistic" with the repurchases.
Apple shares rose 0.1% in premarket trading.