Feb. 11 Premarket Briefing: 10 Things You Should Know
Updated from 7:18 a.m. EST
Here are 10 things you should know for Tuesday, Feb. 11:
1.-- U.S. stock futures were trading higher Tuesday, European stocks rose and Asian shares finished the session with gains.
China's Shanghai Composite rose 0.8% to close at 2,103.67. Hong Kong's Hang Seng rose 1.8%. Japanese markets were closed for a holiday.
2.-- The economic calendar in the U.S. on Tuesday includes wholesale inventories for December at 10 a.m. EST.
3.-- U.S. stocks on Monday closed slightly higher, a day before new Federal Reserve Chairwoman Janet Yellen speaks to Congress for the first time.
The S&P 500 gained 0.16% to finish at 1,799.84, while the Dow Jones Industrial Average rose 0.05% to 15,801.79. The Nasdaq added 0.54% to 4,148.17.
4.-- Yellen on Tuesday is scheduled to deliver her first semi-annual monetary policy testimony before the House Financial Services Committee in Congress. The Fed chairwoman will deliver the second part of her testimony before the Senate Banking Committee on Thursday.
Yellen, 67 years old, is the first woman to lead the central bank in its 100 years. She was sworn in Feb. 3 for a four-year term.
Investors will be watching to see whether Yellen will embrace all the policies of her predecessor, Ben Bernanke.
Analysts expected Sprint to report a fourth-quarter loss of 33 cents a share on revenue of $8.97 billion.
During the fourth quarter, Sprint said it lost 69,000 net contract subscribers compared with losses of 243,000 a year earlier. However, total wireless net additions rose 477,000 in the quarter, Sprint said.
Sprint said it ended 2013 with 53.9 million subscribers.
Shares were rising 7.3% in premarket trading on Tuesday to $8.25.
7.-- CVS Caremark
Analysts forecast fourth-quarter profit of $1.11 a share on sales of $32.67 billion.
CVS reaffirmed Tuesday its 2014 forecast for adjusted earnings of $4.36 to $4.50 a share. Analysts are calling for $4.46 a share.
The stock was up 2% in premarket trading to $68.26.
8.-- British bank Barclays