Updated from 6:58 a.m. EST
Here are 10 things you should know for Monday, Feb. 10:
1.-- U.S. stock futures were pointing lower on Monday but overseas markets were rising as investors looked to Tuesday when Janet Yellen will make her first comments before Congress as the new chief of the Federal Reserve.
Stocks in London, Paris and Frankfurt were posting modest gain. Stocks in Japan rose 1.8% and Shanghai's Composite index finished with a gain of 2%.
2.-- The economic calendar in the U.S. on Monday is bare.
3.-- U.S. stocks on Friday rose, recouping all losses from a broad selloff earlier in the week. U.S. stocks jumped as investors looked beyond lower-than-expected headline employment numbers for January, and found that not only did some of the largest sectors of the labor force gain ground but more people went looking for work last month.The S&P 500 gained 1.33% to finish at 1,797.02, while the Dow Jones Industrial Average rose 1.06% to 15,794.08. The Nasdaq rose 1.69% to close at 4,125.86. For the week, the S&P 500, Dow and Nasdaq gained 0.81%, 0.61% and 0.54%, respectively.
4.-- AOL (AOL) CEO Tim Armstrong abandoned an unpopular plan to delay company contributions to employee retirement accounts and apologized for citing two high-cost births as part of the impetus for the plan.
"We heard you on this topic," Armstrong wrote in a letter to employees Saturday, The Associated Press reported.
In a move to cut costs, AOL decided to pay matching 401(k) retirement contributions in one lump sum at the end of the year. Workers who left the company before the end of the year would have received no contributions, and all workers would sacrifice interest or earnings on those contributions throughout the year.