Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Monday, Feb. 11:

1. -- U.S. stock futures were pointing to gains on Wall Street Monday as most Asian markets were closed for the Lunar New Year holiday.

European shares were mostly higher in early trading.

2. -- The economic calendar in the U.S. Monday is bare.

3. -- U.S. stocks on Friday finished with gains as investors got a boost from better-than-expected trade data.

The Dow Jones Industrial Average rose 49 points, or 0.35%, to 13,993. The blue-chip index fell 0.12% for the week.

The S&P 500 rose 9 points, or 0.57%, to 1,518. The index increased 0.31% for the week. The Nasdaq added 29 points, or 0.91%, to close at 3,194. The tech-heavy index ticked up 0.46% for the week.

4. -- President Obama is prepping for his State of the Union address on Tuesday. Obama's speech reportedly is expected to focus on job creation but Politico said the president will use his speech to force the GOP into accepting more taxes and fewer budget cuts as part of a deal to avert $1.2 trillion of sequester cuts on March 1.

5. -- Google's ( GOOG) executive chairman, Eric Schmidt, plans to sell more than 40% of his shares in the Internet search giant.

Schmidt plans to sell 3.2 million shares of Google. If he sold all of the shares at Google's closing price Friday of $785.37, he would take home $2.51 billion.

6. -- AMR ( AAMRQ.PK), the parent of American Airlines, and US Airways ( LCC) are in final negotiations on a merger that could be announced this week, according to reports .

The $11 billion merger would create the world's largest airline.

7. -- Southeastern Asset Management has been joined by three of Dell's ( DELL) largest shareholders to object to the $24.4 billion deal to take the No. 3 PC maker private, Reuters reported.

8. -- Film studio Lions Gate Entertainment ( LGF) is expected by Wall Street on Monday to report fiscal third-quarter earnings of 16 cents a share on revenue of $707 million.

9. -- Milford, Conn., recorded the highest snow totals from a weekend storm that smacked the Northeast.

According to the Weather Channel, Milford got 38 inches of snow. Boston was hit with almost 22 inches of snow; New York's Central Park recorded 11.4 inches.

10. -- Mumford & Sons' "Babel" won album of the year at the Grammy Awards Sunday night.

-- Written by Joseph Woelfel

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