Stocks sink in divergence with oil


U.S. stock futures were under pressure this morning, after a big drop in Japanese stocks. The Dow on Monday had been down 400 points before recovering to more than halve those losses. (CNBC)

The Dow and S&P 500 remained firmly in correction, while the Nasdaq flirted with a bear market. Wall Street looks to break a two-session losing streak. (CNBC)

Japan's Nikkei tanked 5.4 percent overnight, as the dollar dipped to a November 2014 low against the yen, and yields on Japan's 10-year bond went negative for the first time ever. China markets remained closed for the Lunar New Year holiday. (CNBC)

After falling nearly 4 percent Monday, U.S. oil prices bounced this morning, despite the International Energy Agency casting doubt over a recovery in crude and forecasting a considerable easing in demand growth. (CNBC)

Gold dipped this morning, after Monday's nearly 3.5 percent advance. Uncertainty over global growth has hammered stocks and puts the precious metal on course for its longest rally since 2011. (Reuters)

Dow component Coca-Cola (KO) this morning beat on earnings and revenue. Meanwhile, Walt Disney (DIS), also a Dow stock, leads the list of companies reporting quarterly results after the bell this afternoon. (CNBC)

Deutsche Bank co-CEO John Cryan said the bank remained "absolutely rock-solid," given its strong capital and risk position, adding he did not share the market's concern over the adequacy of the firm's legal provisions. (CNBC)

Viacom (VIAB) this morning matched estimates on earnings but missed on revenue. The media giant also unveiled a new deal with Snapchat to sell ads on behalf of the disappearing message and photo service.

21st Century Fox (FOXA) matched estimates with earnings, but revenue missed. While, television ad sales were stronger, a slide in the Fox film unit was among the offsetting factors.

Verizon (VZ) would likely have to pay more than the $1 billion price tag for its current Thursday night NFL streaming deal if it wants to renew. AT&T (T) and Yahoo (YHOO) were also expected to put in bids. (NY Post)

Twitter (TWTR) today announced a new initiative to combat harassment on its platform: the Twitter Trust & Safety Council. The Council brings together experts from 40 different organizations. (The Verge)

Sundar Pichai, the newly-appointed CEO of Google, was awarded restricted stock worth roughly $199 million. As part of last year's Alphabet (GOOGL) restructuring, Pichai was chosen to run the search unit. (CNBC)

New Hampshire holds its primary today, after Monday's snowstorm. Shortly after midnight, three tiny towns voted for Democrat Bernie Sanders. Republicans Ted Cruz, Donald Trump, and John Kasich split the votes. | Ten key questions (NY Times & CNBC)

On the eve of the primary, in a letter disclosed Monday in a federal court filing, the FBI confirmed its investigation into Democrat Hillary Clinton's use of a private email server when she was secretary of state. (MSNBC)

Michael Bloomberg, billionaire media owner and former New York City mayor, said he's considering a run for president. Such a move would dramatically reshape the 2016 race for the White House. (FT)

President Barack Obama sends Congress his eighth and final budget proposal today, a lame-duck executive's accounting of national priorities that Republican leaders have branded dead before arrival. (NY Times)

The U.S. Olympic Committee has strongly denied that it had advised athletes and staff to consider skipping the Summer Olympic Games in Brazil because of the Zika virus. (NBC News)

The weeks-long Mardi Gras (Fat Tuesday) celebrations culminate today, with elaborate floats, eccentric costumes and marching bands, in one of the biggest celebrations since Hurricane Katrina. (Sun Herald)


Two government reports are due at 10 a.m. ET this morning: December wholesale inventories and the Job Opportunities and Labor Turnover Survey, commonly referred to as JOLTS.

U.S. chief executives remain gloomy in their economic outlook, and notably, more pessimistic than some of their counterparts around the globe, according to the most recent YPO index of CEO confidence.

Sears (SHLD) issued preliminary fourth quarter results that were below Wall Street estimates, pointing to a "challenging" holiday season, and said it would accelerate the closing of unprofitable stores.

Wendy's (WEN) said preliminary results indicate adjusted quarterly profit of 12 cents per share, 1 cent above estimates, with revenue also above forecasts and same-store sales up 4.8 percent for the quarter.

Gap (GPS) reported a sales decline for January, but the parent of the Gap, Banana Republic, and Old Navy brands said full-year earnings would come in at the high end of its earlier guidance.


Canadian utility Fortis has agreed to buy ITC Holdings (ITC), the largest independent electric transmission company in the U.S., in a deal valued at about $11.3 billion.

Cheniere Energy (LNG) is closing its newly formed crude oil trading desk, according to Reuters, just two months after its board voted to replace the company's chief executive to focus more closely on its core businesses.

Novartis (NVS) has struck a deal with insurers Cigna (CI) and Aetna (AET) to set the price for the pharmaceutical company's new heart drug Entresto based on its performance.

Sanofi (SNY) reported a 6.5 percent profit decline for its fourth quarter, due in part to falling revenue in the U.S. market for diabetes drugs, and said profit would not change much in 2016 from last year.


Just in case you don't want to buy your Valentine an actual box of chocolates this Sunday, Starbucks (SBUX) is giving you the chance to gift your sweetheart the caloric equivalent in liquid form. (CNBC)

Beyonce's newest song is increasing sales at Darden-owned Red Lobster. The new popular video features off-color lyrics about enjoying the popular seafood restaurant. (CNBC)