Here we go again: Wall Street pressured by China


U.S. stock futures were under pressure again this morning, after Monday's worst start of a new year for the S&P 500 and Nasdaq since 2001 and the worst start for the Dow since 2008. (CNBC)

Facing another down open, analysts surveyed by CNBC are calling for a median S&P 500 target of 2,200 for 2016. At this time last year, expectations for the S&P were slightly higher for year-end 2015.

Chinese stocks darted between gains and losses today before closing slightly lower — a day after dropping about 7 percent which triggered a new volatility circuit breaker that shut down the market. (CNBC)

Chinese authorities today flooded the banking system there with the largest cash injection since September. Meanwhile, China's securities watchdog defended use of the circuit breaker, but admitted improvements are needed. (CNBC)

Oil prices were rather steady this morning, with traders showing greater concern about the slowdown in China's economy instead of the rising tensions in the Mideast between Saudi Arabia and Iran. (Reuters)

Saudi Arabia has widened its rift with Iran, ending air traffic and trade links and demanding Tehran "act like a normal country" before it would restore severed diplomatic relations. (Reuters)

Kuwait recalled its ambassador to Iran today, the latest country to side with Saudi Arabia in the widening feud that's threatened to set back the prospects for peace in Syria. (NY Times)

President Barack Obama today plans to announce a series of executive actions designed to curb gun violence, focusing on businesses that buy and sell guns at gun shows, flea markets, and online without a license. (USA Today)

Smith & Wesson (SWHC) raised quarterly revenue and earnings guidance, saying gun sales have been stronger than expected and predicting a continuation of that trend. (WSJ)

GOP presidential front-runner Donald Trump's first TV ad starts airing today in Iowa and New Hampshire, highlighting his calls for a border wall and a temporary ban on Muslims entering the U.S. (USA Today)

Volkswagen was sliding in European trading this morning, after the U.S. Justice Department sued the German automaker over emissions-cheating software fitted to diesel vehicles. (AP)

Drugmaker Eli Lilly (LLY) cut its 2015 full-year guidance and forecasted 2016 earnings below current Wall Street estimates. (Reuters)

Facebook-owned Oculus plans to release its virtual reality Rift headset to consumers for preorder tomorrow morning. But one big question remains: how much will it cost? (CNBC)

Computing giant Dell is nearing the end of the process to sell its Perot Systems IT outsourcing services unit in a deal that's expected to exceed $4 billion. (Re/code)

The property and media group controlled by China's richest man is in talks to buy Legendary Entertainment, the Hollywood firm behind films such as "Godzilla" and "Pacific Rim." (FT)

Starbucks (SBUX) is introducing the Latte Macchiato, a new espresso drink, to its permanent menu today. Starbucks does not add new, non-seasonal drinks all that regularly. (USA Today)

New York City is set to begin this month replacing thousands of pay phones with free Wi-Fi hotspots. The city expects to have 500 hotspots installed by July. (WSJ)


Major automakers are set to unveil their December 2015 sales figures throughout the morning in what's expected to show a strong conclusion to a very strong year.

Toyota (TM) set a 2.7 percent China sales growth target for 2016, less than analysts had anticipated. Toyota's China sales had increased by 8.7 percent in 2015.

Ford (F) plans to triple the size of its fleet of self-driving test cars to 30. The automaker made the announcement ahead of the kickoff of the Consumer Electronics Show in Las Vegas.

Nissan and Microsoft (MSFT) have announced that all Nissan LEAF models and Infiniti models in Europe will have Connect Telematics Systems powered by Microsoft Azure.

Nvidia (NVDA) unveiled a new computer designed for use in self-driving cars, and the maker of graphics chips also said Volvo would be the first customer for the new device.


Amazon (AMZN) today announced that more than 23 million items were ordered worldwide from sellers on Amazon on Cyber Monday, a more than 40 percent increase year-over-year.

By the end of the first week of January, UPS (UPS) expects to deliver more than 5 million packages back to U.S. retailers — that would be 500,000 more than last year.

Yahoo (YHOO) has shut down its online video portal, Screen, which failed to gain traction after its 2013 launch.

Activision Blizzard (ATVI) bought videogame compilation producer Major League Gaming for $46 million, as it develops a new e-sports unit.

In a couple executive moves: General Motors (GM) has added chair to CEO Mary Barra's title. Separately, Target (TGT) has fired its head of stores.

IBM (IBM) announced the retirement of a longtime executive who had reportedly rejected a 2010 offer to become CEO of Hewlett-Packard.


Tom Coughlin is stepping down as the head coach of the Giants after 12 years at the helm, which included two super bowl victories. But New York had a third straight losing season. (NBC Sports)

In an aggressive move to end the NFL's two-decade absence from Los Angeles, the Oakland Raiders, San Diego Chargers, and St. Louis Rams have submitted relocation applications. (LA Times)