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- Before the bell: Stocks poised for a lower open
Before the bell: Stocks poised for a lower open
U.S. stocks were set to open lower Wednesday, as investors awaited U.S. Treasury secretary Tim Geithner's comments on the economy and jobs, and Federal Reserve chairman Ben Bernanke's House testimony about the deficit.
Stocks posted another day of solid gains Tuesday, with the Dow climbing for its seventh straight day.
The Dow Jones industrial average (INDU) gained 72 points, or 0.6%, to close at 12,233.
Economy: Fed chairman Ben Bernanke, the nation's top monetary policy maker, is scheduled to testify before the House Budget Committee, with the focus on the budget deficit.
After markets open, a weekly government report on crude oil inventories is expected.
Companies: Dow component Coca-Cola (KO, Fortune 500) reported quarterly results before the market opened and matched analyst expectations. The soft drink maker reported that fourth-quarter earnings rose 9% to 72 cents per share. Coke shares gained more than 1% in premarket trading.
Cisco Systems (CSCO, Fortune 500) will report quarterly results after the closing bell.
Shares of Wells Fargo (WFC, Fortune 500) fell nearly 3% in premarket trading after the bank announced late Tuesday that chief financial officer Howard Atkins is retiring. The company said the retirement wasn't due to Wells' financial condition or reporting.
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