5 things to know before the stock market opens Wednesday, February 9

Here are the most important news, trends and analysis that investors need to start their trading day:

Dow futures rose nearly 250 points, or nearly 0.7%, on Wednesday. S&P 500 and Nasdaq futures pointed to even stronger gains at the open, one day after all three stock benchmarks mounted a solid rally. The Nasdaq‘s second positive session in the past three was helping the index move closer to getting out of correction territory. Earnings are once again the story on Wall Street, with Dow stock Disney scheduled to come out with quarterly results after the bell Wednesday. Peloton gave up earlier premarket gains and turned lower after soaring more than 25% as the connected fitness company announced a new CEO and job cuts. The embattled stock was still down roughly 75% from its all-time high nearly a year ago.

Tech stocks, which were slammed by rising bond yields last month, shrugged off Tuesday’s 10-year Treasury yield jump to 1.96%, a high back to November 2019. The 10-year yield ticked lower Wednesday, one day before the government releases its January read on consumer inflation, which is expected to show continuing large increases. The Federal Reserve has already signaled a monetary policy pivot to address historically high price rises. The market expects at least five interest rate hikes this year, starting in March.

CVS Health shares fell 2.7% in the premarket after the pharmacy chain said Wednesday that demand for Covid vaccines and at-home Covid tests lifted overall store sales, helping the company top expectations for fourth-quarter earnings and revenue. CVS is overhauling its stores to have a health-care focus. Starting this spring, it plans to shutter about 900 locations – or 9% of the company’s roughly 10,000 U.S. stores – over the next three years.

Yum Brands shares rose nearly 1.5% in the premarket after the Taco Bell, KFC and Pizza Hut owner said Wednesday higher costs weighed on profits, leading to a quarterly earnings miss. Revenue slightly beat estimates. All the company’s restaurant chains saw shrinking margins. However, all three chains reported higher same-store sales for the quarter, with Taco Bell leading the way with an 8% rise.

Chipotle Mexican Grill shares soared 7.5% in Wednesday’s premarket, the morning after the company reported…