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Deutsche Bank's plunge pressures world markets

IN THE NEWS TODAY

U.S. stock futures were expressing caution over the rout in Deutsche Bank shares, which sparked broad selling in European equities. Concerns over the financial health of the German lender, which hit record lows, tanked Wall Street on Thursday. (CNBC)

Today marks the final trading day of September and the third quarter, with the Dow, S&P 500, and Nasdaq on pace for strong Q3 gains, heading into the historically strong final stretch of the year. Only the Nasdaq was poised to advance in September. (CNBC)

Oil prices were under pressure this morning, after a two-day rally, on doubts OPEC's first planned output cut in eight years would make a substantial dent in the global glut. U.S. crude was on track for strong gains in September, but losses for the quarter. (Reuters)

Deutsche Bank (DB) stock has been cut in half this year, with losses accelerated in recent weeks on concerns of a capital crunch in the face of a proposed settlement by the U.S. Department of Justice that could reach $14 billion and reports of hedge fund selling. (CNBC)

Deutsche Bank CEO John Cryan sought to reassure his employees in an internal letter today, writing the bank has strong fundamentals and recent media reports were causing "unjustified concerns." Read the full text of the letter here. (CNBC)

Rival German lender Commerzbank saw shares plummet this morning, after announcing job cuts and a plan to slash its dividend. Other European lenders like Unicredit, Barclays, and Credit Agricole also saw hefty losses in Friday trading. (CNBC)

Royal Bank of Scotland (RBS), nearly three-quarters owned by U.K. taxpayers, plans to separate its retail operations from the higher risk portions of its businesses. The overhaul was designed to meet new rules in Britain following the 2008 financial crisis. (Reuters)

Wells Fargo (WFC) has been nosediving this month, as fallout from the bank's sales practice scandal intensifies. CEO John Stumpf on Thursday was grilled again on Capitol Hill, where he denied there was an "orchestrated effort" to defraud customers. (CNBC)

CNBC's Becky Quick reports Warren Buffett, whose Berkshire Hathaway (BRK.B) is a major Wells Fargo shareholder, told Stumpf the secret account mess was bigger than the bank CEO had thought, and that his interview with CNBC's Jim Cramer did not go well.

Och-Ziff Capital Management Group (OZM) will pay $412 million to settle allegations the hedge fund bribed officials in several African countries. Founder Daniel Och agreed personally to pay $2.2 million to settle a recordkeeping violation. (NY Times)

Salesforce (CRM) is calling on European regulators to investigate possible antitrust issues with Microsoft's (MSFT) proposed $26 billion acquisition of business social media company LinkedIn (LNKD). Salesforce lost out to Microsoft in the bidding to buy LinkedIn. (Reuters)

A Tesla (TSLA) car in Autopilot collided with a bus in northern Germany, but the electric automaker said Wednesday's accident was unavoidable because the bus swerved. The Tesla driver was slightly injured but none of the 29 bus passengers were hurt. (Reuters)

The black box from the train involved in Thursday's the wreck at the Hoboken, New Jersey station has been recovered. One person died and more than 100 others were injured. Commuters this morning face modified service, as the investigation continues. (NBC News)

Nobel Peace Prize winner and former Israeli president Shimon Peres was remembered as a "great man" today, as world leaders including President Barack Obama gathered for the 93-year-old's funeral. Palestinian President Mahmoud Abbas also attended. (NBC News)

The USA Today has broken with its 34-year history of not taking sides in the presidential race. The publication's editorial board wrote Donald Trump is "unfit for the presidency." But the newspaper did not give unqualified support for Hillary Clinton.

The U.S. does not own the internet, but it's held the oversight contract for the organization that runs its address book for many years. That's set to change today, when the contract with the nonprofit organization in charge of all domain names expires. (USA Today)

BY THE NUMBERS

The government reports August data on personal income and spending at 8:30 a.m. ET. The Chicago purchasing managers index for September is out at 9:45 a.m. ET. The University of Michigan issues its final September consumer sentiment index at 10 a.m. ET. The weekly Baker Hughes oil rig count is out at 1 p.m. ET.

Dallas Fed President Rob Kaplan speaks at 1 p.m. ET, capping a busy week of Fed-speak, which included a jam packed lineup of other regional central bank heads and Chair Janet Yellen.

Apple (AAPL) is opening a $45 million research and development center in Beijing, its first ever in China, as the U.S. tech giant looks to reverse declining sales in the world's second-largest economy.

STOCKS TO WATCH

Costco (COST) reported quarterly profit of $1.77 per share, beating estimates by 4 cents, though revenue slightly missed. Same-store sales were flat. The warehouse club's results were helped by lower costs for its new credit card deal with Visa (V).

Alcoa's (AA) board approved the company's planned split into two separate publicly traded entities — a move to take effect Nov. 1. One unit will contain the traditional aluminum business, the other will operate the jet and auto parts business.

Elliott Management doubled its stake in Mentor Graphics (MENT) to 8.1 percent. Elliott said the maker of electronic testing tools is deeply undervalued, and the activist hedge fund was the one that initiated talks with the Mentor board.

Nutanix (NTNX) priced its IPO at $16 per share, above an already-boosted expected range, and also raised the number of shares being sold. The computer server and storage company is expected to begin trading this morning, with a market value of $2.2 billion.

Coca-Cola (KO) and Dunkin Brands (DNKN) are joining forces to launch bottled Dunkin' Donuts-branded coffee. It's expected to U.S. stores early next year.

WATERCOOLER

New toy line based on upcoming sci-fi spin-off movie "Rogue One: A Star Wars Story" launched at Toys 'R' Us stores across the U.S. today. Sales kicked-off at midnight. (PR Newswire)

Just months after being acquired by Hollywood talent agency WME-ING, the UFC is going A-list, with 23 celebrities, including Ben Affleck, and Adam Levine investing in the rapidly growing sport. (WSJ)

The new $100 million Lions Gate "Deepwater Horizon" movie, dramatizing the 2010 oil rig disaster and starring Mark Wahlberg and Kate Hudson, poses fresh woes for BP. (WSJ)