Here are five things you must know for Wednesday, April 11:
1. -- Stocks Pull Back
U.S. stock futures pointed to a lower Wall Street open on Wednesday, April 11, after Donald Trump hinted the U.S. could intervene in the Syria crisis.
In a tweet Wednesday, Trump said: "Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and 'smart!' You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!"
Contracts tied to the Dow Jones Industrial Average fell 220 points, while those linked to the broader S&P 500 declined 24.25 points. Futures for the Nasdaq fell 61.75 points.
Stock futures tumbled a day after Wall Street rallied following comments by Chinese President Xi Jinping that eased trade tensions. Stocks surged on Tuesday, April 10, after Xi pledged to open more sectors to foreign companies. Xi also said he would cut tariffs on imported cars and improve intellectual property protection.
The U.S. economic calendar on Wednesday includes the Consumer Price Index for March at 8:30 a.m. ET. Economists surveyed by FactSet expect CPI at 2.3%, with the according to Factset concensus data, the Federal Reserve's inflation target.
Also on the calendar are Oil Inventories for the week ended April 6, at 10:30 a.m., and minutes from the March 21 meeting of the Federal Reserve at 2 p.m.
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2. -- Investors Cheer Mark Zuckerberg's Testimony
Facebook Inc. (FB) - Get Report shares rose 4.5% on Tuesday after CEO Mark Zuckerberg testified before Congress for the first time, answering questions about Cambridge Analytica, antitrust regulation and the company's transparency with its users.
Investors clearly were pleased by Zuckerberg's appearance as the stock price jumped during the hearing, though some experts found that the CEO's answers -- and senators' questions -- left a lot to be desired.
Creative Strategies President Tim Bajarin said Zuckerberg did "an incredible job."
TheStreet's newsroom analyzed Zuckerberg's performance below.
"He's calm and collected," Bajarin said. "He knows how to answer these questions even though some of them are either ridiculous or not even apropos."
However, Zuckerberg can't play "the naiveté card" anymore, Bajarin said. Facebook will likely face some governmental regulation, and now the one thing at stake for investors is how any regulation might impact the company's earning abilities, he said.
Zuckerberg apologized several times during the hearing for Facebook's failures, and said his company was working hard to change its own operations after the harvesting of users' private data by Cambridge Analytica, the data-mining company affiliated with Donald Trump's campaign.
- Facebook's Zuckerberg 'Dodges Bullet' During Congressional Hearing
- 7 Key Takeaways From Mark Zuckerberg's Senate Testimony
Zuckerberg will appear before a House committee at 10 a.m. Wednesday for day two of the hearings.
The stock fell 1.2% in premarket trading on Wednesday.
The owners of Sprint Corp. (S) - Get Report and T-Mobile US Inc. (TMUS) - Get Report saw their shares surge on Wednesday following a report that said the telecommunications giants have restarted merger talks.
3. -- European Commission Raids Fox's London Offices
The London offices of Twenty-First Century Fox Inc. (FOXA) - Get Report were raided by investigators from the European Commission over potential abuse of the company's dominant position in broadcasting of major sporting events.
Fox confirmed the raids and said that Fox Networks Group, a unit that distributes TV and cable channels, and content around the world, was cooperating with the investigation.
Documents and computer records reportedly were taken in the raid, which was prompted by concerns by the EC that Fox "may have violated EU antitrust rules that prohibit cartels and restrictive business practices."
The EC, the executive branch of the European Union, confirmed on Tuesday it had performed "unannounced inspections" at the offices of unnamed companies in several EU countries.
"The European commission can confirm that on 10 April its officials carried out unannounced inspections in several member states at the premises of companies active in the distribution of media rights and related rights pertaining to various sports events and/or their broadcasting. Unannounced inspections are a preliminary step into suspected anticompetitive practices," a commission spokesman said on Tuesday.
4. -- Sprint and T-Mobile Restart Merger Talks
Here's what TheStreet's founder Jim Cramer thinks of the talks.
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Shares of T-Mobile's owner, Deutsche Telekom AG (DTEGY) , rose more than 4% in Frankfurt, and Sprint's Japanese owner, SoftBank Group Corp. (SFTBY) , gained 3.5% in Tokyo. Sprint was down 2.5% in premarket trading on Wednesday but jumped more than 17% on Tuesday after The Wall Street Journal reported the companies have resumed resumed talks for the third time in four years. The Journal reported the talks were in the preliminary stages and was unclear of the terms the companies were discussing.
T-Mobile rose 5.7% on Tuesday and rose slightly in after-hours trading.
The fresh talks come five months after Sprint and T-Mobile called off merger talks after an agreement over the terms couldn't be reached.
5. -- Starboard Seeks 4 Board Seats at Newell
Activist hedge fund Starboard Value LP said Tuesday in a filing that it plans to seek four board seats at Newell Brands Inc. (NWL) - Get Report , arguing more work is needed to repair the consumer products company even after rival activist Carl Icahn was handed board seats, Reuters reported.
The New York-based hedge fund owns 3.8% of Newell Brands, the maker of Rubbermaid containers. Starboard earlier this year planned to oust the entire board. It scaled back its ambitions and now seeks to replace four incumbent directors with its own people, including two women, Reuters reported.
(This article has been updated with fresh stock market prices).