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Wall Street poised for positive start to 2016 home stretch

Key Points


U.S. stock futures were modestly higher this morning, on the first day of the fourth quarter. The Dow and S&P 500 were little changed for last week and last month but higher for the third quarter. While also flat last week, the Nasdaq was the big winner last month and for the quarter. (CNBC)

Oil prices were higher this morning, with European benchmark Brent moving over $50 per barrel, on OPEC output cut deal optimism. U.S. crude soared last week and last month, though it was slightly lower for the whole of the third quarter. (Reuters)

Donald Trump's decision to take a $916 million loss on his 1995 income tax return showed his business acumen and "genius" at figuring out how to minimize his tax bill, said Rudy Giuliani, an advisor to the GOP presidential nominee. Trump campaigns in Colorado today. (Reuters)

Hillary Clinton is expected to go after Mylan (MYL) and Wells Fargo (WFC) in a rally in swing state Ohio. On the eve of her visit, the Democratic nominee got an endorsement from LeBron James, the Cavaliers superstar who brought the NBA title back to Cleveland. (AP & NBC News)

Wells Fargo faces possible bans from doing business with the city of Chicago and the state of Illinois in the wake of its sales scandal that erupted earlier this month. The California treasurer last week suspended the state's business relationships with Wells Fargo. (CNBC)

German politicians are accusing the U.S. of waging economic war by going after Frankfurt-based Deutsche Bank. Sparking fears of a credit crunch, U.S. regulators said last month Deutsche Bank should pay $14 billion to settle claims related to selling mortgage securities. (FT)

Deutsche Bank continues settlement talks with the U.S. Justice Department. The negotiations are moving forward, but have not progressed to a degree that a proposed deal has reached senior-level review at the DOJ or the German lender's supervisory board. (WSJ)

U.S. asset manager Janus Capital (JNS) and London-listed Henderson Global Investors have agreed to a 6 billion merger, sending Henderson's shares soaring about 12 percent in overseas trading. The combined company would manage more than $320 billion in assets. (Reuters)

Tesla (TSLA) set new quarterly records for vehicle production and deliveries in Q3, according to company data. The electric automaker delivered around 24,500 vehicles, an increase of 70 percent from last quarter when the company fell short of its own delivery projections. (The Verge)

Alphabet's (GOOGL) Google will this week launch the first smartphones that carry its own brand and design, as part of a batch of new devices aimed at competing in markets with Apple and Amazon. (FT)

When Jeff Bezos revealed in May Amazon employed more than 1,000 people working on Echo and Alexa products, he said: "It's just the tip of the iceberg." Now the Echo and Alexa groups are looking to fill 400 positions. (Recode)

Microsoft (MFST) has increased European cloud investment to $3 billion. Microsoft announced plans to offer Microsoft Azure, Office 365 and Dynamics 365 from multiple datacenter locations in France.

Hurricane Matthew, the strongest Atlantic tropical storm since 2007, was on a path to land a heavy punch on Jamaica, Cuba and Haiti, approaching the islands. Forecasters said it's too early to tell whether the powerful storm would hit the U.S. (NBC News)

Kim Kardashian was held up by armed men in her Paris hotel room. The social media and reality TV star is said to have been robbed of millions of dollar of jewelry. When he found out, husband Kanye West abruptly left the stage during a New York concert. (USA Today)


Following record ratings for last week's first presidential debate and this coming Sunday's clash of Trump and Clinton, their running-mates Mike Pence and Tim Kaine meet in their only vice presidential debate tomorrow.

The results of the presidential race could shape the Supreme Court for decades to come. The high court begins its 2016 term today, with the seat vacated by the death of conservative justice Antonin Scalia still open.

Prime Minister Theresa May has set Britain on course to leave the EU by 2019 in her first major speech on Brexit, saying the U.K. would become a "fully independent, sovereign" country.

It's a fairly busy week for U.S. economic data, in the run-up to Friday's release of the September jobs report. Today, look for September ISM manufacturing, August construction spending, and September auto sales.

GoPro's (GPRO) new actions cameras, the Hero 5 Black and the more compact Hero 5 Session, went on sale this weekend. CEO Nick Woodman joins "Squawk Alley" at 11 a.m. ET this morning.

The Starbucks (SBUX) pay increase for partners and store managers in the U.S., announced in July, goes into effect. They're receiving an increase in base pay of 5 percent or greater.


Netherlands financial services giant ING (ING) plans to cut 7,000 jobs, or 12 percent of its global workforce, and invest heavily in its digital platforms to achieve annual savings of $1 billion) by 2021.

A consortium led by Bass Pro is reportedly close to acquiring Cabela's (CAB). The deal would unite two of america's largest outdoor sports equipment retailers. Cabela's is expected to be valued above $4 billion.

Barron's suggests Broadcom (AVGO), a semiconductor maker and key Apple (AAPL) supplier, could see its shares rise more than 20 percent, citing expected demand for the iPhone.

Barron's reports AMC could gain nearly 30 percent, boosted by the movie theater operator's new initiatives such as reclining seats, reserved seating, and better concessions.

Facebook (FB) has launched a stripped-down version of its messaging app called Messenger Lite, which is designed to work with slower internet speeds and basic Android smartphones in emerging markets.


USA claimed its first Ryder Cup title over Europe in eight years at Hazeltine National in Minnesota Sunday. In golf's most prestigious team competition, the Americans dominated with a 17-11 to win. The next cup will be played in Paris in 2018. (Golf Channel)

"Miss Peregrine's Home for Peculiar Children" debuted with $28.5 million, leading North American ticket sales this weekend. "Deepwater Horizon," about the 2010 oil rig explosion, opened in second, with animated "Storks" in third. (AP)