Here are five things you must know for Wednesday, April 10:
1. -- Stock Futures Point to a Rebound for Wall Street
U.S. stock futures were rising modestly Wednesday ahead of data on retail level inflation and minutes from the Federal Reserve's meeting in March.
Contracts tied to the Dow Jones Industrial Average rose 39 points, futures for the S&P 500 were up 5.50 points, and Nasdaq futures gained 12.75 points.
Asian shares closed mostly to the downside Wednesday while European shares traded mostly higher.
Stocks closed lower Tuesday and the S&P 500 snapped an eight-session winning streak after the International Monetary Fund forecast slower global growth in 2019 and trade tensions escalated between the U.S. and the European Union.
The big bank CEOs - including those from JPMorgan Chase (JPM) - Get Report , Goldman Sachs Group (GS) - Get Report , Citigroup (C) - Get Report and Morgan Stanley (MS) - Get Report - will be on Capitol Hill Wednesday to discuss regulation in the financial sector post the financial crisis of 2008. They are expected to say that the financial system is less risky and better supervised than it was a decade ago thanks to regulatory reforms that have been implemented, according to The Wall Street Journal.
"There is no doubt that the strength, stability and resiliency of the financial system has been fundamentally improved over the course of the last 10 years," said Dimon in prepared testimony ahead of his appearance Wednesday. "Post-crisis reforms have made banks much safer and sounder in three important areas: capital, liquidity and resolution and recovery."
2. -- CPI, Fed Minutes Lead Wednesday's Calendar
The economic calendar in the U.S. Wednesday includes the Consumer Price Index for March at 8:30 a.m. ET. Economists surveyed by FactSet expect consumer prices to have risen 0.3% last month, with the year-over-year rate forecast at 1.8%. Core CPI in March is expected to increase 0.2%.
Also on the calendar are the minutes from the Federal Reserve's meeting on March 20, at which the central bank held interest rates steady and signaled it was unlikely to lift rates in 2019. Oil Inventories for the week ended April 5, at 10:30 a.m. are also on the calendar.
3. -- Uber to Sell About $10 Billion of Stock in IPO - Report
Uber Technologies will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of the offering on Thursday, Reuters reported, citing people familiar with the matter.
Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft's (LYFT) - Get Report shares following its IPO late last month, the sources told Reuters. Investment bankers previously told Uber it could be worth as much as $120 billion.
Uber most recently was valued at $76 billion in the private fundraising market, according to Reuters.
After its IPO registration with the Securities and Exchange Commission is publicly available Thursday, Uber will kick of its investor roadshow during the week of April 29, putting it on track to price its IPO and begin trading on the New York Stock Exchange in early May, the sources told Reuters.
4. -- Levi Strauss Jumps After Posting First Earnings Since IPO
, in its first earnings report as a public company,
of 37 cents a share on revenue of $1.44 billion.
A year earlier, the jeans company reported a loss of 5 cents a share on revenue $1.34 billion. The period included a $136 million charge from the U.S. tax overhaul.
The stock rose 7% in premarket trading to $23.40.
Levi Strauss was a public company from 1971 until 1985, when it was taken private. It went public again in March at an offering price of $17 a share and closed on Tuesday at $21.88.
"We delivered our sixth consecutive quarter of double-digit constant-currency revenue growth," said Chip Bergh, president and CEO. "Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off."
The company reported gross margins of 54.6% in its fiscal first quarter while operating income rose 15% year over year to $201 million.
For the year, the company said it expects revenue growth in the mid-single digit percentage.
5. -- JetBlue Reportedly Gearing Up for Trans-Atlantic Flights
Low-cost airline JetBlue will hold an "all hands" meeting Wednesday with staff at John F. Kennedy Airport along with "viewing parties" at some of its main hubs around the U.S., CNBC reported, citing a company invitation it obtained.
CNBC said a save-the-date email announcing the event featured a background pattern similar to upholstery on London's subway. Buttons featuring JetBlue's logo and London sights of Big Ben and the London Eye were sent to JetBlue offices, according to one employee, CNBC reported.
JetBlue may add service to London but its plans could include other routes to European cities from its New York and Boston hubs.
JetBlue declined to confirm whether it would make an announcement Wednesday but said in a statement, "Potential routes to Europe could provide us an opportunity to grow our focus cities of Boston and New York as we consider the best use of our aircraft from a margin perspective in those cities."
Shares rose 3.7% in premarket trading to $16.94.