Updated from 5:45 a.m. EST

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Here are five things you must know for Monday, Feb. 13:

1. -- U.S. stock futures traded higher Monday and European and Asian shares posted solid gained after the three major U.S. stock indexes closed at record highs on Friday for the second consecutive session.

The gains were driven by promises on tax reform from the Donald Trump administration and as oil prices rallied.

The S&P 500 rose 0.36% to close Friday at a record 2,316. The Dow Jones Industrial Average gained 0.48% to close at 20,269. The Nasdaq scored its fourth consecutive closing record, gaining 0.33% to 5,734.

Crude oil prices jumped after the International Energy Agency reported Friday that OPEC members and the 11 non-OPEC countries -- which agreed to cut oil production by 1.2 million barrels a day in November -- largely have complied with the production cuts. West Texas Intermediate crude oil settled up 1.6% on Friday but was slipping Monday by 0.6% to $53.53 a barrel.

2. -- The economic calendar in the U.S. on Monday is bare but things heat up Tuesday when Federal Reserve Chair Janet Yellen is scheduled to deliver a semi-annual report on monetary policy to Congress, her first since the central bank raised rates in December.

John Canally, chief economic strategist at LPL Financial, said that Yellen's testimony may be the "catalyst ... to get everyone again talking about the corporate tax plan, the border tax and personal income tax cuts."

"I think it's Yellen and all the data for January and February that will kickstart the fiscal policy part of the Trump administration," Canally said. "For the first three weeks it's been more about trade and immigration. I think it might start to pivot more back to taxes and the economy."

Others Fed speakers will be making the rounds this week as well while data on U.S. producer prices and consumer prices will be released on Tuesday and Wednesday, respectively.

3. -- Verizon (VZ) - Get Report , the largest wireless provider in the U.S., will begin offering plans with unlimited data starting Monday.

Verizon's plan allows customers to obtain unlimited data, talk and text at full LTE speeds at a cost of $80 for a single line or $180 for a family of four. Customers have to sign up for AutoPay and paper-free-billing.

The wireless giant stopped offering unlimited data plans in 2012. The move by Verizon was "inevitable," Roger Entner, a telecom analyst with Recon Analytics, told USA Today as the company was losing ground to competitors T-Mobile (TMUS) - Get Report and Sprint (S) - Get Report .

"Verizon is offering something nobody else can: The unlimited plan you want on the wireless network you deserve," said Ronan Dunne, president of Verizon's wireless division.

The stock slipped slightly in premarket trading.

4. -- The Senate is expected Monday evening to confirm Steven Mnuchin, Donald Trump's pick for Treasury secretary, despite complaints by Democrats that Mnuchin failed to protect thousands of homeowners from unnecessary foreclosures when he headed OneWest Bank.

Republicans said Mnuchin's long tenure in finance is an ample prerequisite for the Treasury job. Mnuchin is a former top executive at Goldman Sachs.

"This Treasury nominee is smart, he's capable, and he's got impressive private-sector experience," said Senate Majority Leader Mitch McConnell, R-Ky, the Associated Press reported. "We need him confirmed as soon as possible so he can begin to tackle these challenges and reverse the last eight years of economic heartache."

Sen. Elizabeth Warren, D-Mass., said Mnuchin's bank was a "foreclosure machine" whose business practices were "sleazy and out of line."

5. -- Earnings are expected Monday from First Data (FDC) - Get Report , Vornado Realty Trust (VNO) - Get Report and ON Semiconductor (ON) - Get Report .