Here are 10 things you should know for Wednesday, Feb. 17:
1. -- U.S. stock futures were suggesting Wall Street would rise for a third straight day as shares in Europe gained and oil prices stabilized.
Investors also were preparing for the release of the minutes of the Federal Reserve's meeting last month.
Oil prices in the U.S. rose 2.4% early Wednesday to $29.75 a barrel.
2. -- The economic calendar in the U.S. Wednesday includes the Producer Price Index for January at 8:30 a.m. EST, Housing Starts and Building Permits for January at 8:30 a.m., and Industrial Production and Capacity Utilization for January at 9:15 a.m. The Fed will release minutes of its Jan. 27 meeting at 2 p.m.
3. -- U.S. stocks on Tuesday rose as investors came back from the Presidents Day long weekend rested, refreshed and a little more optimistic on equities.
The S&P 500 added 1.7% on Tuesday, the Dow Jones Industrial Average rose 1.4%, or 223 points, and the Nasdaq jumped 2.3%. Stocks enjoyed their best session of the year on Friday.
4. -- Apple (AAPL - Get Report) CEO Tim Cook said the tech giant will fight a federal magistrate's order to hack its users in connection with the investigation of the shootings in San Bernardino, Calif.
Cook's response, posted early Wednesday on Apple's Web site, came after an order from U.S. Magistrate Judge Sheri Pym that Apple help the Obama administration break into an encrypted iPhone belonging to one of the shooters in the December attack.
Cook said the "moment calls for public discussion, and we want our customers and people around the country to understand what is at stake."
Cook argued that the order "has implications far beyond the legal case at hand."
"The government is asking Apple to hack our own users and undermine decades of security advancements that protect our customers -- including tens of millions of American citizens -- from sophisticated hackers and cybercriminals," Cook said.
"We can find no precedent for an American company being forced to expose its customers to a greater risk of attack."
5. -- Carl Icahn reduced his stake in Apple by 7 million shares to 45.8 million shares, down 13% from Sept. 30, according to a filing with the Securities and Exchange Commission.
David Einhorn's Greenlight Capital also said in a filing it trimmed its Apple stake in the fourth quarter. Greenlight held 6.3 million Apple shares at the end of 2015, down 44% from Sept. 30.
Shares of Apple have fallen more than 15% in the last three months.
Apple is a holding in Jim Cramer's Action Alerts PLUS portfolio.
6. -- Devon Energy (DVN - Get Report) said it would lay off about 1,000 employees and slash its dividend due to "the current commodity price environment" and an effort to reduce expenses in order to remain financially flexible and competitive.
The company had said in January that layoffs were planned as oil and natural gas prices remain weak.
Devon cut its dividend to 6 cents a share for the second quarter, down from its previous dividend of 24 cents.
7. -- Airbus and Boeing (BA - Get Report) announced modest aircraft orders at the Singapore Airshow on Wednesday that indicated a lull in demand for the big manufacturers after the 2014 show took in deals of more than $30 billion.
Airbus announced an order for six A350-900s, valued at $1.8 billion at list prices from Philippine Airlines. Boeing announced a deal for 12 of its 737 jets with privately owned Chinese carrier Okay Airways, valued at $1.3 billion.
The Teamsters union said Tuesday that more than 93% of mechanics who voted turned down the company's latest contract offer, which included a lower pay scale for new hires.
The union said it will ask the National Mediation Board for permission to strike.
A year earlier, the wireless carrier earned $101 million, or 12 cents a share.
Revenue was $8.25 billion in the quarter, up 1.1% from a year earlier, as the company added added 2.1 million net customers during the period.