Morning Brief

Wall Street looks for golden start after string of records

Key Points


U.S. stock futures were higher this morning, following a string of record highs last week, including a nother new closing high for the Nasdaq on Friday, which also capped a seventh straight week of gains for the first time in four and a half years. (CNBC)

Even with the current run in global stocks, a number of investors prefer to hold cash or put money in other alternative forms of investment, according to a Bank of America Merrill Lynch survey. (CNBC)

Oil prices were higher this morning, extending a 10 percent rally since the start of the month, as speculation intensifies about potential producer action to support prices in an oversupplied market. Russia and Saudi Arabia are reportedly talking. (Reuters)

Japan's economy showed just 0.2 percent growth in the latest quarter, missing forecasts. The Nikkei 225 stock index wavered between gains and losses before closing down 0.3 percent. Chinese stocks were a bright spot in Asia. (CNBC)

Four members of the U.S. Olympic swim team, including Ryan Lochte, were robbed at gunpoint in Rio this weekend. Following conflicting reports, including denials from the IOC, Lochte said the suspects were posing a police officers. (NBC News)

Twitter (TWTR) has been talking to Apple (AAPL) about bringing the Twitter app to Apple TV, which would potentially let millions of Apple TV users watch the streaming NFL games. Twitter paid about $10 million to stream 10 games. (NY Times)

Google parent Alphabet (GOOGL) is rethinking its high-speed internet business after initial rollouts proved more costly and time consuming than anticipated, a stark contrast to the fanfare that greeted its launch six years ago. (WSJ)

Tesla (TSLA) removed the word "autopilot" and a Chinese term for "self-driving" from its China website after a driver in Beijing who crashed in autopilot mode complained the carmaker overplayed the function's capability and misled buyers. (NY Times)

SpaceX launched a satellite into space on Sunday, and then the rocket landed back on a drone ship, notching another important feat for the company founded by billionaire Elon Musk. (CNBC)

In the latest sign U.S. stock exchanges were inching away from a decade-long arms race toward ever greater speed, Nasdaq (NDAQ) plans a new option for investors who complain they can't keep up with rapid-fire trading. (WSJ-subscription)

Fidelity, the Boston-based financial group, has been quietly lobbying politicians and White House officials in favor of a new tax break that would encourage employers to help pay off worker student debts. (FT)

Democratic presidential nominee Hillary Clinton is getting an assist today from Joe Biden in Scranton, Pennsylvania, where he was born. The vice president plans to call Trump the most uninformed presidential nominee in history. (Reuters)

In a speech in Ohio today, GOP nominee Trump is expected to say, if elected, he would end a policy of nation building, replacing it with what aides described as "foreign policy realism" focused on destroying ISIS and other extremist organizations. (AP)

Secret ledgers showed $12.7 million in undisclosed cash payments designated for Donald Trump's campaign manager, Paul Manafort, from the administration of former Ukrainian President Viktor Yanukovych. (NY Times)

Police said one person was shot at a Milwaukee protest last night, during a second night of unrest over the police shooting of a black man. There was no repeat of widespread property destruction. Wisconsin Gov. Scott Walker has activated the National Guard. (AP)

More than 20,000 people were rescued after massive floods swept across Louisiana. The flooding from heavy rain on Friday and Saturday killed at least four people. President Barack Obama has declared a major disaster in the hard-hit parishes. (NBC News)

Emergency agencies rushed to New York's JFK International Airport in response to a report last night of shots fired. But there was no gunfire, authorities said, declaring early this morning the two terminals where reports emerged were searched and cleared. (NBC News)


Two economic reports kick off the new trading week, with the New York Fed's Empire State survey of business conditions out at 8:30 a.m. ET and the August sentiment index from the National Association of Home Builders at 10 a.m. ET.

Food distributor Sysco (SYY) is among the few major companies issuing quarterly earnings this morning, while Famous Dave's (DAVE) and Learning Tree (LTRE) are included on this afternoon's after-the-bell list.

"Suicide Squad" was No. 1 at the box office in its second week. But the anti-superhero film was down 67 percent. Meanwhile, "Sausage Party," the raunchy animated movie co-written by Seth Rogen, debuted in second place with $33.6 million.


Lyft has rejected buyout interest from General Motors (GM), which has a $500 million investment in the ride-hailing service. GM declined comment on the report when contacted by CNBC.

Hedge fund manager David Tepper increased his stake in Allergan (AGN) by 981,700 shares to 1.2 million shares. Tepper's quarterly SEC filing also shows a new bet on Quorum Health (QHC), and a 61 percent cut in holdings of hospital operator HCA (HCA).

Tiffany (TIF) lost Nelson Peltz's Trian Fund as a shareholder during the second quarter, according to Trian's quarterly SEC filing. Trian took a 5.5 percent stake in Tiffany in 2007, but cut its investment in recent months and has now exited it altogether.

Facebook (FB) and Activision Blizzard (ATVI) are among new investments by hedge fund manager Daniel Loeb's Third Point, according to a quarterly SEC filing. Third Point also exited its stake in Signet Jewelers (SIG).

IBM (IBM) is expected announce a seven-year deal to provide cloud services to business software provider Workday (WDAY), according to The Wall Street Journal. Terms of the deal weren't disclosed.

Post Properties (PPS) is near a deal to be bought by rival apartment REIT Mid-America Apartment Communities (MAA) for about $4.4 billion in stock, according to The Wall Street Journal.

General Electric (GE) has received a binding offer for its French prime mortgage portfolio, increasing its GE Capital asset-sale agreements to about $192 billion, according to The Wall Street Journal.


Simone Biles won her third gold medal of the Rio Olympics, in Sunday's vault final. The 19-year-old American gymnast tries to make it four for four as she seeks another gold today on the balance beam. (NBC News)

Usain Bolt won his record-setting third-straight Olympic 100 meter Sunday. The Jamaican sprinter has a chance for two more golds in Thursday's 200 meter final and Saturday's 4x100 relay. (AP)