This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Feb. 12 Premarket Briefing: 10 Things You Should Know

Here are 10 things you should know for Wednesday, Feb. 12:  

1.-- U.S. stock futures were rising Wednesday as investors around the world cheered Federal Reserve Chairwoman Janet Yellen's reassuring stance on monetary policy and better-than-expected data from China.

The stronger trade figures from China also gave a lift to European and Asian stocks. The Chinese government reported faster growth in imports and exports for January.

2.-- The economic calendar in the U.S. on Wednesday includes the Treasury Budget for January at 2 p.m. EST.

3.-- U.S. stocks on Tuesday closed higher for the fourth consecutive session as Federal Reserve Chairwoman Janet Yellen underscored in her testimony before the House Financial Services Committee that the central bank will continue to scale back its economic stimulus program at a guarded pace.

The S&P 500 ended 1.11% higher at 1,819.75. The Dow Jones Industrial Average rose 1.22% to 15,994.77 while the Nasdaq added 1.03% to finish at 4,191.04.

4.-- House Republicans backed away from a battle over the government's debt limit Tuesday and permitted President Obama's Democratic allies to drive quick passage of a measure extending Treasury's borrowing authority without any concessions from the White House.

The 221-201 vote on Tuesday came hours after Speaker John Boehner announced that his fractured GOP party would relent. Just 28 Republicans voted for the measure, including Boehner and his top lieutenants. However, 193 Democrats voted for the bill. 

Senate Democrats hoped to vote on the legislation as early as Wednesday and send it to Obama for his signature, according to The Associated Press.

5.-- Network equipment maker Cisco (CSCO) is expected by analysts to report on Wednesday fiscal second-quarter earnings of 46 cents a share on revenue of $11.03 billion.

6.-- Ford (F) said the automaker and its Chinese joint ventures sold 94,466 vehicles in China in January, an increase of 53% from a year earlier. 

Ford's sales in China jumped 35% in December and 47% in November, Reuters reported.

7.-- Zillow (Z), the real estate Web site, is forecast to report fourth-quarter earnings on Wednesday of 7 cents a share.

8.-- Whole Foods Market (WFM) is expected by Wall Street on Wednesday to report fiscal first-quarter earnings of 44 cents a share on revenue of $4.29 billion.

9.-- Procter & Gamble (PG), the world's largest consumer product maker, cut its earnings outlook for the year, saying that currency rate changes in Venezuela, Argentina and other developing countries were hurting its profitability.

P&G said Tuesday it expects earnings will grow 3% to 5%, excluding one-time items, below its prior forecast of 5% to 7%. It still expects revenue to rise 3% to 4% when stripping out the effect of acquisitions and foreign exchange rates.

10.-- Sony (SNE) has entered negotiations with Apple (AAPL) to double its supply of camera components for a new iPhone slated to roll out as early as next year, according to a report Wednesday in the Nikkei Asian Review.

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Follow @josephwoe58

 

Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs