Wall Street is expected to rise after a decline on Tuesday.

BY THE NUMBERS

On Wednesday, U.S. stock futures increased as energy stocks, including Dow component, followed rising oil prices higher due to concerns about crude supply resulting from the intensifying Russia-Ukraine conflict. Meanwhile, bond yields on the rose from the previous day's low to approximately 1.77%. (Source: CNBC)

Despite the International Energy Agency's announcement to release 60 million barrels of oil reserves, including 30 million from the US, on Wednesday, U.S. oil prices skyrocketed. Additionally, Exxon announced its plans to exit Russia, leaving $4 billion in assets, and the Sakhalin LNG project is now in doubt. Meanwhile, Russia's Sberbank collapsed 95% on the London stock exchange after exiting Europe. The American benchmark, WTI, topped $112 per barrel, its highest since May 2011. OPEC and its oil-producing allies, including Russia, met on Wednesday and decided not to add to April's output.

Jerome Powell, the Federal Reserve Chairman, will deliver his assessment of the economy before two different panels on Wednesday and Thursday, respectively. In his prepared testimony, he stated that he still foresees rate hikes, but acknowledged that the implications of the Ukraine war on the U.S. economy are highly uncertain.

The U.S. economy added 475,000 jobs in February, exceeding expectations of 400,000, according to ADP's report on Wednesday. January's job count was revised from a loss of 301,000 to a gain of 509,000. Despite the Covid pandemic, ADP's numbers have not been a reliable indicator of the government's monthly employment report, which will be released on Friday.

Salesforce's earnings beat and revenue guidance, and Marc Benioff touted strong sales guidance, saying "30 billions are now ahead of us."

IN THE NEWS TODAY

President Biden on Tuesday aimed to achieve two challenging objectives in his State of the Union address: garner public support for Ukraine and present a new domestic policy agenda vision.

Ford (F) announced on Wednesday that it will restructure its operations to separate its electric and internal combustion engine businesses into separate units within the company. This strategy is similar to how Ford operates its Ford Pro commercial vehicle business under CEO Jim Farley's "Ford+" turnaround plan. Shares of Ford rose 4% in premarket trading on the news. Citigroup released its financial targets at its first Investor Day under CEO Jane Fraser. Walmart rolled out a tech tool to help shoppers try on clothes without actually trying them on.

Netflix has agreed to purchase mobile game developer Next Games for $72 million as the streaming giant continues to expand into the gaming industry. Next Games is the Finnish studio behind a mobile game based on Netflix's popular show "Stranger Things." (Reuters)

If you book with AMC, your ticket to see "The Batman" could cost more than other films playing in the same theaters at the same time. Adam Aron, CEO of the movie theater chain, announced that the company was testing out variable pricing in the U.S., which means that new releases could cost more than other films. (CNBC)

STOCKS TO WATCH

SoFi's premarket stock price increased by 15.5% after the company reported a loss of 15 cents per share on revenue of $279.9 million, which was lower than the Refinitiv consensus estimate of a 17-cents loss per share on revenue of $279.3 million.

The retailer reported fourth-quarter earnings of $1.04 per share on revenue of $5.02 billion, exceeding analysts' expectations of a profit of 87 cents per share on revenue of $4.96 billion. As a result, ROST added 6.3% in premarket trading.

Despite a slight earnings beat for the most recent quarter, HPE's premarket stock price increased by 5.5% after the company reported a quarterly revenue miss. The earnings of 53 cents per share beat analysts' estimates by 7 cents, but the revenue of $6.96 billion was below the consensus estimate of $7.03 billion.

The retailer missed top and bottom-line estimates, causing ANF to fall 8.1% premarket. Despite posting adjusted earnings of $1.14 per share on revenue of $1.16 billion, the company fell short of analysts' expectations, which were for a profit of $1.27 per share on revenue of $1.18 billion, according to StreetAccount.

The solar-panel manufacturer's premarket stock price dropped 12.4% after missing revenue expectations for the fourth quarter and issuing weak full-year guidance.

The company's earnings were 1% higher premarket after a better-than-expected fourth-quarter report. Although revenue slightly missed analyst estimates, the company posted earnings of $2.01 per share, which was higher than the StreetAccount consensus estimate of $1.78 per share.

Morgan Stanley named DKNG a top pick, and the stock rose 2.3% before the bell. The sports betting market in the US is expected to be large, with a few market share winners, including DKNG, according to Morgan Stanley.