Wall Street is poised to rise after ending a multi-day losing streak.

BY THE NUMBERS

U.S. stock futures reversed course on Tuesday, ending a five-session winning streak. The S&P 500 and Nasdaq Composite also snapped their four-session winning streaks. The catalyst was Fed Chairman Jerome Powell's announcement that he would take "necessary steps" to combat "too high" inflation. On Tuesday, the S&P 500 climbed, reaching nearly 2.36%, its highest level since late May 2019. (Source: CNBC)

On Tuesday, NKE's stock price increased by approximately 5% in the premarket, following the release of its fiscal third-quarter earnings and revenue that surpassed expectations. Despite strong demand in North America, Nike declined to provide future guidance due to uncertainties surrounding inflation, the Russia-Ukraine conflict, and supply chain congestion. (Source: CNBC)

Alibaba's U.S. premarket trading shares jumped 8% after the company announced a 66% increase in its share buyback program to $25 billion. The Chinese e-commerce giant has already repurchased about 56.2 million American depositary receipts, worth about $9.2 billion, under the previously announced buyback program. (BABA)

IN THE NEWS TODAY

Ukrainian forces regained control of a key suburb of Kyiv on Tuesday, while Russia continued to tighten its grip on areas near the capital and its assault on the besieged southern port of Mariupol persisted. Meanwhile, Ukrainian President Volodymyr Zelenskyy called for increased pressure on Moscow and said 15,000 Russian troops had been killed in the conflict. U.S. President Joe Biden warned that Russian President Vladimir Putin's back was against the wall and could resort to using chemical weapons. The White House also cautioned American companies to immediately strengthen their cybersecurity defenses, as it warned of potential cyberattacks. (AP & Reuters)

Boeing has offered full support to the investigation of the crash of a China Eastern Airlines 737-800, which killed 132 people, according to CEO Dave Calhoun. The jet crashed in mountains in southern China on Monday. Boeing, a Dow stock, advanced modestly in premarket trading on Tuesday, one day after dropping 3.6%. An aviation analyst said the crash was unprecedented given the 737's stellar safety record.

Disney stock (DIS) dropped more than 6% in a month, but remained steady in the premarket ahead of a week of planned employee walkouts, starting Tuesday, in protest of CEO Bob Chapek's delayed denunciation of Florida's Don't Say Gay bill. Chapek announced Monday that the company made a mistake by previously remaining silent on the legislation in the state home to Disney World. (Reuters)

On Tuesday, CEO Elon Musk will officially open Tesla's first manufacturing facility in Europe, located in Berlin. The plant is expected to produce up to 500,000 vehicles annually. A select group of clients will receive Model Ys made in Berlin on Tuesday. Musk stated that new orders from the plant could be delivered as soon as next month. (CNBC & Reuters)

Pfizer announced on Tuesday that it will provide up to four million courses of its oral Covid treatment to various poorer nations under an agreement with the United Nations Children’s Fund. The company expects to begin supplying the antiviral pills, Paxlovid, to UNICEF next month and will continue to do so until the end of the year. (PFE)

On Tuesday, Ketanji Brown Jackson, the Supreme Court nominee, will be questioned by senators for the first time as Democrats strive to swiftly confirm the first Black female justice in the court's 233-year history. Jackson, a federal appeals court judge, silently listened to more than four hours of senators' opening statements on Monday. (AP)

Stormy Daniels has been ordered to pay Donald Trump nearly $300,000 in legal fees after a federal appeals court upheld a lower court's decision in her unsuccessful defamation lawsuit against the former president. Trump boasted about the ruling in a statement he issued Monday night. (CNBC)

STOCKS TO WATCH

Okta is probing into allegations of a cyber attack, with the identity management firm stating it will release further details once they become accessible. Okta's stock dropped 6% in premarket trading.

Altria's stock price increased by 1% in the premarket after Goldman Sachs upgraded it to a buy rating. Goldman highlighted the tobacco company's robust cash flow, impressive profit margins, and attractive dividend as reasons for the upgrade.

The entertainment services company's premarket trading increased by 4.5% after reporting better-than-expected quarterly earnings and announcing plans for a secondary listing on the Hong Kong Stock Exchange.

Wedbush downgraded UPST from neutral to underperform, citing its dependence on third-party funding and macroeconomic risks. As a result, UPST fell 3.5% in the premarket.

The labor dispute between CP and its workers was resolved through binding arbitration, resulting in the resumption of operations after a weekend lockout.

Nearly 2% of PGRE's stock price rose in the premarket after Monarch Alternative Capital's takeover offer was rejected by the office-centered REIT as being too low. Despite this, Paramount stated that it remains open to any ideas that could increase shareholder value.