×

Oil remains in the driver seat on Wall Street

IN THE NEWS TODAY

U.S. stock futures were searching for direction, as oil pared earlier losses this morning. Monday's 6 percent advance in U.S. crude prices pulled the Dow and S&P 500 along for strong rallies that pushed the measures out of correction territory. (CNBC)

Saudi Arabia's oil minister is set to speak at the CERAWeek energy conference in Houston at 9:50 a.m. ET. OPEC's secretary general addressed the gathering Monday, saying the cartel was willing to work with non-OPEC producers to find a solution to low oil prices. (CNBC)

Home Depot (HD) this morning reported earnings and revenue that beat expectations. The company also announced a 17 percent dividend increase. U.S. same-store sales were up 8.9 percent. (Reuters)

Macy's (M) also reports earnings this morning, and Chairman and CEO Terry Lundgren joins CNBC's "Squawk Box" at 8:15 a.m. ET to breakdown the numbers. The retailer had a tough holiday shopping season.


Microsoft founder Bill Gates said tech companies should be forced to cooperate with law enforcement authorities, entering a fractious debate between Apple (AAPL) and the U.S. government over an iPhone of one of the San Bernardino terrorists. (CNBC)

Valeant (VRX) plans to restate its financial results for 2014 and 2015 after identifying some sales to Philidor that should have been recognized when products were dispensed to patients. The stock, down 10 percent Monday, pulled back further in premarket trading. (WSJ)

Bruno Iksil, the trader at the center of the so-called London whale trading debacle, broke nearly four years of silence by taking aim at his former employer JPMorgan Chase (JPM), saying he was made a scapegoat. (WSJ-subscription)

Tribune Publishing (TPUB) chief executive Jack Griffin has been ousted less than three weeks after he helped secure a substantial cash infusion from a private investor who became the firm's new board chairman. (WSJ-subscription)

PBS is starting a new 24-hour channel dedicated solely to children's programming. PBS Kids is expected to debut later this year, most likely in the fall. It will also be available online with a live stream. (NY Times)

Aerospace giants Honeywell (HON) and United Technologies (UTX) recently held talks about a merger with the potential to create a $94 billion sales colossus, but UTX pulled out of the discussions due to antitrust worries. (CNBC)

Two House Democrats, Sander Levin of Michigan and Chris Van Hollen of Maryland, plan to introduce a bill today, seeking to curtail corporate inversions, a strategy used by American companies to move their headquarters overseas to cut their U.S. tax bills. (NY Times)

GOP presidential front-runner Donald Trump takes the weekend win in South Carolina and the victory earlier this month in New Hampshire into today's Nevada caucus. Marco Rubio and Ted Cruz look to halt Trump's roll. (USA Today)

On the eve of the Nevada caucus, Cruz fired his communications director after the aide acknowledged spreading a misleading video about Rubio's answer to questions about the bible. (NY Times)

House Speaker Paul Ryan joins CNBC's "Squawk Box" at 8:15 a.m. ET to talk about the Republican race and the GOP agenda on Capitol Hill.

A powerful storm could spawn severe thunderstorms and even a handful of dangerous tornadoes across the northern Gulf Coast today, according to forecasters. (NBC News)

BY THE NUMBERS

Today's economic reports include the S&P/Case-Shiller home prices index for December at 9 a.m. ET, existing home sales for January at 10 a.m. ET, and consumer confidence for February at 10 a.m. ET.

Three Fed officials deliver speeches throughout the day, including Dallas Fed President Rob Kaplan at 8:50 a.m. ET, Fed President Neel Kashkari at 9 a.m. ET, and Fed Vice Chair Stanley Fischer at 8:30 p.m. ET.


STOCKS TO WATCH

Fitbit (FIT) reported earnings and revenue that easily topped expectations, but shares of the wearable fitness device maker plunged in premarket trading on weaker-than-expected forward guidance.

BHP Billiton (BHP) reported a multibillion dollar loss during the first half of the year. The miner also cut its dividend by 75 percent, the first reduction since 1988. The stock was under pressure in the premarket.

Toll Brothers (TOL) reported earnings that matched expectations and revenue that beat. The largest U.S. luxury homebuilder said orders rose 17.6 percent. The stock was little changed in premarket trading.

Texas Roadhouse (TXRH) saw earnings rise 12 percent, beating forecasts. The steakhouse chain was helped by higher same-store sales, as trend it sees continuing. The stock was higher in the premarket.


WATERCOOLER

Burger King today becomes the biggest restaurant seller of hot dogs in the country. The fast-food chain best known for its Whopper burger is adding a $1.99 classic grilled dog and a $2.29 chili cheese dog. (USA Today)