Wall Street ends its 3-day losing streak, causing stock futures to dip.

BY THE NUMBERS

U.S. stock futures fell slightly on Wednesday, following a three-day losing streak on Wall Street. Despite two hot inflation reports, January retail sales rose stronger than expected. Tensions between Russia and Ukraine eased, sparking a rally that lifted the S&P 500, the Nasdaq, and the Dow Jones Industrial Average by more than 1% each. The 500 and the Nasdaq also rose over 2%. The investing club is optimistic about Devon's earnings, investor return, and cash flow goals. Wynn Resorts is expected to take a Covid hit, and its rebound depends on China's travel policy. Cramer says that this is the "best thing I've read on crypto" and is "very worried" about it.

The government's data on January retail sales showed a 3.8% increase compared to the expected 2.1% gain. However, these numbers do not account for inflation, so bigger sales increases may not necessarily mean more actual sales. After the report, the stock market remained lower on Wednesday but remained above 2%. The average size of a new mortgage set a record as home prices continue to climb. The investment community hopes to learn more about what the Fed plans to do to fight inflation when minutes from the central bank's January meeting are released at 2 p.m. ET. The markets expect the central bank to hike interest rates seven times this year, starting next month.

IN THE NEWS TODAY

Despite NATO's assertion that there are no indications of troop withdrawals at Ukraine's border, Russia announced on Wednesday that it is returning more troops and weapons to their bases. Moscow's Tuesday announcement of a withdrawal was met with doubt worldwide. President Biden cautioned that an invasion remains a possibility and urged Russia to pursue a diplomatic solution to the conflict. (Reuters)

On Wednesday, MRNA CEO Stephane Bancel stated on CNBC that it is "reasonable" to believe that the final stages of the Covid pandemic may be near. Bancel explained that there is an 80% chance that as the omicron variant continues to evolve, it will become "less and less virulent." However, he also sees a "20% scenario where we see a next mutation, which is more virulent than omicron."

The number of new daily U.S. Covid cases decreased by 44% to 136,190, while the weekly average of deaths from Covid decreased by 8% to 2,264, according to data from Johns Hopkins University.

Biden has refused to release White House visitor logs from the day of the Jan. 6 Capitol riot, despite former President Donald Trump's claim that they are protected by executive privilege. (CNN)

CNN executive Allison Gollust, who was in a relationship with network President Jeff Zucker and triggered his resignation this month, has also resigned from the network, according to an email sent to staff members. In her own statement, Gollust called the announcement by CNN’s parent WarnerMedia “retaliation.” (NBC News)

On the same day it reported lower-than-expected quarterly earnings and better-than-expected revenue and streaming video subscriber additions, Paramount Global (VIACA) announced a corporate name change to Paramount Global. The move, effective Wednesday, ties the company closer to its Paramount+ streaming service and takes advantage of Paramount’s brand recognition. (Press Release)

STOCKS TO WATCH

The social gaming platform operator, RBLX, experienced a 15% decline in premarket action after reporting a 25-cent loss per share for its latest quarter, which was nearly double the 13-cent loss analysts had predicted. Additionally, the company saw lower-than-expected revenue.

Airbnb reported record revenue for 2021, better-than-expected fourth-quarter results, and issued an upbeat current-quarter forecast. The home rental company said current-quarter bookings are likely to exceed pre-pandemic levels for the first time. Airbnb shares rallied 3.5% in the premarket.

Despite missing estimates by 2 cents, adjusted quarterly earnings per share were 74 cents. Revenue was slightly above estimates, more than doubling from the previous year, as the travel industry recovered. Premarket shares fell modestly.

Wynn reported a quarterly loss of $1.37 per share, which was wider than the $1.25 per share loss predicted by Wall Street analysts, despite the casino operator's revenue exceeding expectations. A 27.9% decline in Wynn's Macau revenue contributed to the overall results. Wynn's stock fell more than 2% in the premarket.

The company's stock price increased by 2.6% in the premarket after it surpassed both top and bottom-line estimates for the fourth quarter. The manufacturer of generators and power equipment reported an adjusted earnings per share of $2.51, which was 11 cents higher than anticipated, as both commercial and residential sales grew more than 40%.

Despite reporting better-than-expected quarterly profit and revenue, the e-commerce platform operator's stock fell 4% in premarket action. The company also announced that revenue growth for 2022 would be slower than the 57% it achieved in 2021.

KHC's adjusted quarterly profit of 79 cents per share beat estimates by 16 cents, and its revenue was also above Wall Street forecasts.

The furniture company's premarket trading tumbled 12.5% after reporting a quarterly profit of 65 cents per share, which was below the 89-cent consensus estimate. The company, known for its signature recliners, faced multiple production issues related to Covid-19, which prevented it from fully meeting demand.

The programmatic ad company's adjusted quarterly earnings of 42 cents per share, 14 cents above estimates, and revenue that topped Wall Street forecasts caused TTD to surge 10.5% in the premarket.

Cedar Fair rejected a takeover bid from rival theme park operator SEAS, causing Cedar Fair stock to slide 12.3% in the premarket and SeaWorld to fall 4.2%. Additionally, Cedar Fair reported better-than-expected quarterly revenue.