5 things you need to know Wednesday
Will she raise rates? All eyes are on Fed Chair Yellen
With the economy and markets sending mixed signals lately, investors will hang on every word of Federal Reserve Chair Janet Yellen’s testimony before a House committee Wednesday for clues on whether the Fed will raise interest rates again in March. A brutal market sell-off triggered by global weakness and low oil prices has investors hoping Yellen will hint the Fed is likely to hold off again after acting in December for the first time in nine years. But while job growth slowed in January, Labor Department figures show wages are picking up, a precursor to higher inflation. Yellen is likely to say the Fed is awaiting more data.
U.S. women’s soccer team kicks off Olympics campaign
Seeking its fourth straight gold medal, the U.S. women’s national soccer team will kick off its latest Olympic campaign Wednesday with a qualifying game against Costa Rica. The match is a highlight of a tournament for the North American, Central American and Caribbean region that runs until Feb. 21 in Houston and Frisco, Texas. Returning Olympians Carli Lloyd, Alex Morgan and Hope Solo are on the squad, as well as newcomers Emily Sonnett, Samantha Mewis, Crystal Dunn and 17-year-old sensation Mallory Pugh, according to a roster announced in January by team coach Jill Ellis.
Under fire, Twitter to release earnings report
Hashtag #ouch: Twitter will report fourth-quarter earnings on Wednesday amid a steep downward trend in the company's stock price. The social media service, which has been struggling with slowing user growth, was stung over the weekend by a report that it planned to make fundamental changes to the timeline feature. Shares declined more than 5% and dipped as low as $14.73 on Monday before closing at $14.90. Twitter has lost more than half its value since co-founder Jack Dorsey took over as CEO in July.
It's Ash Wednesday, even if you're busy
Back by popular demand, Christians marking Ash Wednesday can receive the sign of the cross in non-traditional locations. "Ashes to Go" gives the Christian sign of repentance — a smudged cross of ashes on the forehead — to anyone who seeks it in train stations, coffee shops and other public spots. "As people get busier and busier, we need the church in new and non-traditional ways," said the Rev. Margaret Otterburn of Chester, N.J. Ash Wednesday marks the beginning of the holy season of Lent.
YouTube originals take on Netflix, Hulu
YouTube is releasing three made-for-YouTube movies and a new series Wednesday in response to competitors like Netflix, Hulu and Amazon, according to its CEO. The push for original content comes with YouTube's Red subscription service. The plan offers ad-free usage, access to YouTube originals and a Spotify-like music service for $9.99 a month.
And the essentials:
Weather: Snow showers will fly in the Northeast, Great Lakes and upper Midwest Wednesday while rain soaks the Pacific Northwest.
Stocks: U.S. stock futures were higher Wednesday, ahead of Fed Chair Janet Yellen’s testimony.
TV Tonight: Wondering what to watch tonight? TV critic Robert Bianco looks at Idol Top 24 and Goldbergs.
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