BY THE NUMBERS

U.S. stock futures bounced Wednesday, one day after a broad sell-off sent Wall Street lower. Investors grew concerned about Covid reopening plans as cases ticked higher in many U.S. states despite vaccinations. Germany and France are among the European nations tightening restrictions again as a new wave of infections sweeps a continent that's seen a sluggish vaccine rollout. (CNBC)

* Tom Lee says cyclical companies are 'the new growth stocks' in Covid recovery (CNBC Pro)
* Cramer says the market won't bottom until it sees another 'crescendo' moment (CNBC)

The 10-year U.S. Treasury yield on Wednesday continued to back off last week's 14-month highs. The Dow and S&P 500 on Tuesday each lost nearly 1%, while the Nasdaq lost more than 1%. (CNBC)

* Today's biggest analyst calls: FedEx, Wendy's, Dave & Buster's (CNBC Pro)

Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are set to deliver a second day of economic testimony to lawmakers as required quarterly by the March 2020 Covid relief act. They will appear remotely before the Senate Banking Committee at 10 a.m. ET. (CNBC)

* Powell, Yellen agree valuations in the market may be high but not worrisome, yet (CNBC)

The Commerce Department this morning reported U.S. durable goods orders fell 1.1% in February. Economists had expected a 0.8% increase. Durable goods orders rose 3.5% in January. (CNBC)

* Homebuyer mortgage demand rises, but rates hit highest level since summer (CNBC)

IN THE NEWS TODAY

GameStop (GME) shares fell 12% in Wednesday's premarket after the company acknowledged in a filing that it's considering selling additional equity shares. After the closing bell Tuesday, GameStop missed on the top and bottom lines with quarterly results. But it did see e-commerce sales jump 175% for the quarter. The company also named A former Amazon and Google executive Jenna Owens as its new COO. (CNBC)

* Online brokerage Robinhood files confidential paperwork to go public, source says (CNBC)

Dow stock Intel (INTC) rose about 4% in premarket trading after the company said late Tuesday it will spend $20 billion to build two new semiconductor factories in Arizona. The announcement, coinciding with new CEO Pat Gelsinger's first public remarks since taking over the job, signals that Intel will continue to focus on manufacturing. (CNBC)

Incoming Amazon (AMZN) CEO Andy Jassy, head of the company's cloud business for the past 15 years, revealed his Amazon Web Services successor in a memo to employees. Adam Selipsky, a former Amazon executive and currently CEO of Salesforce-owned data-visualization software maker Tableau, was chosen to run the AWS division. (CNBC)

Elon Musk announced late Tuesday that it's now possible to buy Tesla (TSLA) vehicles in the U.S. with bitcoin. "You can now buy a Tesla with Bitcoin," tweeted CEO Musk, who was also officially made the "Technoking of Tesla" this month. People outside the U.S. will be able to buy a Tesla with bitcoin "later this year," Musk said, without specifying which countries. (CNBC)

A cargo container ship that's among the largest in the world has turned sideways and blocked all traffic in Egypt's Suez Canal, officials said Wednesday, threatening to disrupt a global shipping system already strained by the coronavirus pandemic. (AP)

Democrats on Capitol Hill said they're pushing toward a vote on expanded gun control measures as the nation reels from its second mass shooting in a week. President Joe Biden said Tuesday that the U.S. has to act. However, prospects for any major changes were dim, for now, in the closely divided House and Senate. (AP)

* Colorado shooting suspect was prone to rage, delusions, official says (CNBC)
* Here's how Georgia troopers caught the metro Atlanta spa shootings suspect (11Alive)

As new $1,400 stimulus checks are making their way to millions of Americans, some federal beneficiaries have yet to see the money. Some recipients of Social Security, Supplemental Security Income, Railroad Retirement Board and Veterans Affairs benefits who do not typically file tax returns reportedly have not received their checks. (CNBC)

* IRS makes more people eligible for $10,200 unemployment tax break (CNBC)
* 55% of Americans say the pandemic set their retirement plans back 2 or more years (CNBC)
* Survey: Many Americans won't eat out, fly until herd immunity arrives (USA Today)

Hong Kong authorities has halted the use of Pfizer's (PFE) Covid vaccine, citing defective packaging, triggering scenes of confusion in inoculation centers across the city. The suspension comes as the Asian financial hub has faced a sluggish vaccine up-take. (Reuters)

* EU is set to cut Covid vaccine exports as continent faces third case surge (NYTimes)

AMC Entertainment (AMC) shares continue to fall following Walt Disney's (DIS) announcement that it would delay release of its "Black Widow" movie by two months, and offer it simultaneously in theaters and on its Disney+ service for a fee. The movie theater operator's shares had plummeted 14.7% yesterday and 10.3% on Monday. (CNBC)

Jeep is leading electrification plans for Stellantis (STLA), its new parent company formed earlier this year through the merger of Fiat Chrysler and French automaker Groupe PSA. Every new Jeep is expected to offer some form of electrification, including all-electric vehicles as well as hybrids. (CNBC)

Sports merchandise powerhouse Fanatics recently raised $320 million in new funding, giving it a valuation of $12.8 billion, up from $6.2 billion last August. According to a person familiar with the company's planning, Fanatics will use the funds to expand its vertical commerce division, explore additional mergers and acquisitions and expand internationally. (CNBC)

* Crypto firm Blockchain.com rides bitcoin mania to a $5.2 billion valuation (CNBC)
* Prince Harry joins Silicon Valley mental health start-up (CNBC)

STOCKS TO WATCH

ViacomCBS (VIAC) shares fell another 7% in the premarket after sinking 9.1% Tuesday on news of a $3 billion stock offering.

General Mills (GIS) fell 2 cents a share shy of Wall Street forecasts, with quarterly earnings of 82 cents per share. Revenue exceeded estimates and General Mills said expects demand for food at home to remain elevated relative to pre-pandemic levels. Its shares were down 1.9% in the premarket.

Winnebago (WGO) shares gained 3.7% in premarket action after the recreational vehicle maker reported quarterly profit of $2.12 per share, compared to a $1.42 a share consensus estimate. Revenue topped analysts' forecasts and Winnebago saw a nearly 6 percentage point expansion in gross margins during the quarter.

Adobe (ADBE) beat estimates by 35 cents a share, with quarterly profit of $3.14 per share. The software company's revenue came in above estimates as well and Adobe issued strong current-quarter and full-year earnings guidance on strength in its flagship Creative Cloud suite and other cloud-based offerings. Adobe rose 1.2% in premarket action.

Steelcase (SCS) earned 6 cents per share for its latest quarter, compared to a consensus estimate of a 1 cent per share loss. The office furniture maker's revenue came in above forecasts as well. The company gave a weaker-than-expected forecast, however, as demand for office products continues to be weak. Its shares lost 3.4% in the premarket.