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Can the Dow resume its march higher post-Trump?

Key Points


U.S. stock futures were higher this morning, after the Dow snapped its nine session winning streak Thursday. The blue-chip average has gained more than 3 percent in July. The Dow, S&P 500, and Nasdaq were all looking for gains for four weeks in a row.

Dow stock General Electric (GE) this morning reported earnings and revenue that beat expectations. GE said it plans to "invest in key growth initiatives such as GE digital, while returning about $26 billion to investors through buyback, dividends."

Visa (V), another Dow component, beat on earnings but missed on revenue. The credit card issuer announced a and a new strategic partnership with PayPal (PYPL), which itself matched on earnings and beat on revenue. (AP & Reuters)

The Japanese stock market fell overnight, with shares of Nintendo losing steam after initially jumping on the launch of "Pokemon Go" app in Japan, after weeks of anticipation. Nintendo has nearly doubled since the game launched in the U.S. earlier this month. (CNBC)


Donald Trump campaigns in Ohio today, after accepting the GOP presidential nomination in a speech painting dim picture of the current state of U.S., and blaming Democrat Hillary Clinton for a legacy of "death" and "destruction" when she was secretary of state. (CNBC)

Introducing her father on the last night of the Republican convention in Cleveland, Ivanka Trump tried to show his considerate side, portraying a man who helps downtrodden people find jobs and who pushes for gender equality at his companies. (CNBC)

Billionaire venture capitalist Peter Thiel received big applause at the podium when he said, "I am proud to be gay. I am proud to be a Republican. But most of all, I am proud to be an American." Thiel's speech centered on how Trump would fix an outdated government. (CNBC)

Democrats close to Hillary Clinton's campaign signaled strongly she would choose Sen. Tim Kaine of Virginia as her running mate. An announcement could come as early as today, ahead of next week's Democratic convention. Clinton campaigns in Florida. (NY Times)


Roger Ailes has resigned from as chairman and CEO of Fox News, amid accusations of sexual harassment from several women. 21st Century Fox's (FOXA) Rupert Murdoch becomes chairman and acting CEO. Ailes is said to be getting a $40 million exit package. (WSJ)

JPMorgan (JPM) is expected to pay about $200 million to settle investigations into whether the bank tried to win deals by hiring the children of Chinese officials. (WSJ)

In a big economic consequence to come out of North Carolina's controversial law that bans transgender people from using bathrooms in accordance with their gender identities, the NBA has decided to pull the 2017 All-Star game out of Charlotte. (NBC News)

Prosecutors said a truck driver who killed dozens of Bastille Day revelers in Nice, France had been planning the attack for months, and had at least five accomplices who were in custody and indicted on various terrorism charges. (CNBC)

The hunt for Malaysia Airlines Flight 370 will be suspended once the current search area in the Indian Ocean has been completely scoured, possibly ending all hopes of solving one of aviation's greatest mystery. (NBC News)

Florida health officials said they were investigating a second possible case of Zika spread locally, and Brazilian scientists said they feared they may have found a second species of mosquito can transmit the virus. (NBC News)

A weather phenomenon called a "heat dome" is creeping across the country and is due to arrive in the New York-area just in time for the weekend, bringing even hotter and muggier conditions to the already-scorching region. (NY Times)


Starbucks (SBUX) reported adjusted earnings of 49 cents per share, matching forecasts, with revenue below. Investors were also focused on a lower than expected 4 percent increase in comparable store sales in both the U.S. and globally.

Chipotle (CMG) missed estimates by 6 cents with quarterly profit of 87 cents per share. Revenue also missed. Comparable store sales dropped more than expected, despite promotions and increased food safety measures.

AT&T (T) earned an adjusted 72 cents per share for the second quarter, matching estimates, while revenue was slightly below projections. AT&T saw an increase in wireless subscribers but also experienced a decline in pay-TV customers.

Pandora Media (P) lost 12 cents per share, narrower than analysts had expected. But revenue missed forecasts, as did current quarter revenue guidance. The online radio service blamed a drop in active listeners.

Advanced Micro Devices (AMD) posted its first quarterly increase in sales in almost two years, thanks to increasing demand for videogame and graphics chips. AMD reported a narrower-than-expected loss and revenue that beat.

Skechers (SKX) reported quarterly profit of 48 cents per share, 4 cents below estimates, and revenue also missed. The shoemaker was hurt by currency fluctuations and a fire at a warehouse located in Malaysia.


Boeing (BA) said it would take a more than $2 billion charge against profit for the second quarter, related to various aircraft programs including the KC-46 tanker aircraft and 787 Dreamliner programs. Boeing is scheduled to report earnings next Wednesday.

Goldman Sachs (GS) plans to start marketing a new corporate buyout fund of $5 billion to $8 billion, its first such vehicle since the 2008 financial crisis, according to the Wall Street Journal.

ConocoPhillips (COP) will cut 6 percent of its workforce, about 1,000 workers, in the energy giant's U.S. and Canada operations.

Valeant (VRX) said the FDA has raised issues regarding a Bausch & Lomb eye drop manufactured at a facility in Florida. The eye drop in question treats a certain type of glaucoma. Valeant said it plans to address and resolve the concerns.

Syngenta (SYT) said it expected its deal to be bought by ChemChina to be completed by the end of the year. That statement came as the agricultural chemical maker reported lower than expected first half profit.

Amazon (AMZN) is set to announce new investments in Italy worth at least $500 million, according to Reuters.


All-day breakfast isn't the only popular menu item at McDonald's (MCD). The Golden Arches, which amped up its french fries in four locations in San Francisco in late April, plans to now offer garlic fries at 240 locations in California. (CNBC)