Today's market outlook: Stocks expected to rise at the start, bond yields decrease.

BY THE NUMBERS

On Wednesday, Dow futures rose nearly 250 points, or nearly 0.7%, while S&P 500 and Nasdaq futures pointed to even stronger gains at the open. The 's second positive session in the past three was helping the index move closer to getting out of correction territory. Meanwhile, earnings are once again the story on Wall Street, with Dow stock scheduled to come out with quarterly results after the bell Wednesday.

Despite being hit by rising bond yields last month, tech stocks bounced back on Tuesday as the 10-year yield reached a high not seen since November 2019. The yield ticked lower the next day, one day before the government releases its January report on consumer inflation, which is expected to show continued large increases. Meanwhile, the Fed's Bostic predicts that more than three interest rate hikes may be possible this year, but he needs to see how the economy responds. Additionally, demand for mortgages dropped by 10% in the latest week, with higher rates pricing some homebuyers out.

Nancy Pelosi, D-Calif., is now pushing for a ban on stock trading on Capitol Hill, despite previously opposing it, according to Punchbowl News, as reported by Axios. This move adds momentum to an issue that has bipartisan support in the Senate.

IN THE NEWS TODAY

Peloton's new CEO aims to be a comeback story, according to an internal email (CNBC).

CVS's premarket shares fell 2.7% after the pharmacy chain announced that demand for Covid vaccines and at-home tests had boosted overall sales, helping the company exceed earnings and revenue expectations for the fourth quarter. CVS is currently revamping its stores to emphasize a health-care focus. (CNBC)

The stock price of YUM, which owns Taco Bell, KFC, and Pizza Hut, increased by 1.49% in the premarket after the company announced that higher costs had led to a quarterly earnings miss. Despite this, revenue slightly exceeded expectations. All of the company's restaurant chains experienced a decline in margins. However, all three chains reported an increase in same-store sales for the quarter, with Taco Bell leading the way with an impressive 8% rise.

On Wednesday, the premarket price of CMG shares increased by 7.5%, following the company's announcement of quarterly earnings that surpassed expectations and revenue that met projections. Chipotle reported that its customers remained loyal to the restaurant despite menu price hikes aimed at addressing high food and labor costs. The company also stated that it anticipates further price increases later this year. (Source: CNBC)

After reporting lower-than-expected ridership, Lyft's premarket losses were trimmed. The company's quarterly earnings slightly beat estimates due to higher fares and longer trips, and revenue also exceeded expectations. CNBC reports that Lyft's rival is set to release its results after the bell on Wednesday.

New York's governor and health officials are considering whether to lift or prolong two Covid mask mandates, one in schools and the other in most other indoor public spaces, such as grocery stores, shops, and offices. Gov. Kathy Hochul, a Democrat, will make an announcement on the matter on Wednesday. If the mask orders are lifted, New York will align with many other "blue" states taking similar actions. (AP)

The Justice Department announced that it seized over $3.6 billion in stolen cryptocurrency linked to the 2016 hack of Bitfinex. As part of the operation, authorities detained a New York couple on allegations they planned to launder the digital goods. Officials arrested Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31. Morgan, an aspiring rapper who goes by the name Razzlekhan, wrote an article in Forbes last summer with the headline: “Experts Share Tips To Protect Your Business From Cybercriminals.” She is also known for rapping in front of the New York Stock Exchange.

Meta Platforms (FB) rose in Wednesday's premarket, despite closing with a market cap below $600 billion for the first time since May 2020. This also coincides with the number of House legislators who picked $600 billion as the threshold for a "covered platform" in a package of competition bills aimed at Big Tech. Meanwhile, Meta has fallen behind Nvidia in market cap, now ranking eighth among the most valuable U.S. companies. (CNBC)

President Biden publicly acknowledged Tesla for the first time in his presidency on Tuesday, noting the company's position as the nation's largest producer of electric vehicles. Biden had previously avoided mentioning the company due to his perception that Tesla is anti-union. Meanwhile, Elon Musk is working to restore internet connectivity in Tonga after a volcanic eruption and tsunami. (AP)

On Tuesday, Senate Minority Leader Mitch McConnell, R-Ky., criticized the Republican National Committee for censuring GOP members Reps. Liz Cheney and Adam Kinzinger for their involvement in the House investigation of the Jan. 6 Capitol riot. McConnell stated, "We were all here. We witnessed what occurred." (CNBC)

The House passed a bill to prevent a government shutdown and keep the government running at current levels through March 11.

STOCKS TO WATCH

The electric vehicle maker's Hong Kong shares experienced a 6.8% increase in the premarket after being included in a trading link to mainland China. This inclusion in the Shenzhen-Hong Kong Stock Connect link facilitates easier access to those shares for Chinese investors.

Nikola denied a report that it implemented a hiring freeze and that it has lost most of its supply chain leadership. The company stated that its supply chain department is still intact and it continues to hire. The stock gained 1.4% in premarket trading.

Enphase's adjusted earnings per share of 73 cents for the quarter surpassed the 58-cent consensus estimate, resulting in a 20.3% surge in premarket action.

After exceeding analyst forecasts, XPO's premarket jumped 3.4%. The logistics company attributed its strong North American trucking business as one of the factors driving those results.

Despite better-than-expected profit and sales for the company's most recent quarter, TCS tumbled 26% in the premarket. Meanwhile, overall sales were down 3% from a year ago and online sales tumbled by 36% compared with a year earlier.

Reynolds fell 1.8% in premarket trading after reporting mixed quarterly results, with revenue falling short of Wall Street forecasts despite beating bottom-line estimates. The company also forecast weaker-than-expected revenue for the current quarter.

The financial technology and services company's stock price increased by 11.3% in premarket trading after it announced a strategic review of its operations and stated that it believes there is significant shareholder value that has not yet been realized.

The Canadian cannabis producer (CGC) experienced a 6% increase in the premarket after announcing a narrower-than-expected loss and better-than-anticipated revenue for its latest quarter. Despite a decline in cannabis sales, the company's growth in its drinks and vapes categories offset the decline.

WATERCOOLER

Lindsey Jacobellis, a 36-year-old snowboarder, won the United States' first gold medal at the 2022 Beijing Winter Olympics. This was her first Olympic gold after suffering a brutal fall that cost her gold in her debut at the 2006 Torino Winter Games. (NBC News)