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Morning Brief

US futures surge as the Trump-Clinton debate remains in focus

Key Points


U.S. stock futures were higher this morning, as investors parse the second presidential debate between Donald Trump and Hillary Clinton and the most recent set of Fed comments on interest rates. Wall Street broke a four-week winning streak last week. (CNBC)

The Mexican peso was surging against the dollar, as Trump's campaign came under pressure from the video of Trump making vulgar comments about women. Meanwhile, the British pound was stable this morning, after Friday's "flash crash" to 31-year lows. (CNBC)

Gold advanced this morning, after logging its worst week since 2013 last week. Meanwhile, oil was under pressure, following three straight weeks of gains and U.S. crude peaking above $50 per barrel. Though prices were slightly lower that level today. (CNBC)

With the fallout from the 2005 Trump video threatening to unravel his bid for the presidency, the GOP candidate showed up to the second debate against Democrat Hillary Clinton more focused, more relaxed, and more out of bounds of the political norms. (NBC News)

Residents in the southeastern states ravaged by Hurricane Matthew turned their focus today to recovery and clean-up. But officials warned the deadly flooding could continue, as rain swollen rivers crest in coming days. (Reuters)

Samsung temporarily suspended production of its Galaxy Note 7 devices, following reports of fires in its replacement models. It's a major setback for the world's biggest smartphone maker, which continues to struggle with the industry's largest-ever recall. (NY Times)

Shares of Mylan (MYL) were surging about 12 percent in premarket trading, after the embattled drugmaker agreed to pay $465 million to settle charges of overcharging the government for EpiPens. The settlement had been expected to be much higher. (CNBC)

Deutsche Bank (DB) was under pressure once again, with another weekend passing without a settlement deal with the U.S. Justice Department over its sales of mortgage backed securities. The DOJ thinks the German lender should pay $14 billion. (CNBC)

Facebook (FB) ended up with a $14 million tax credit in the U.K. last year, which can be used to offset future tax payments, added to concerns the social media giant is not paying enough into Britain's coffers. Facebook paid $5 million in U.K. taxes in 2015. (CNBC)

Tesla (TSLA) won't have to raise new funds after all during the fourth quarter to fund its acquisition of SolarCity (SCTY), according to Elon Musk, chairman of both companies. Musk also hinted at new products. (Reuters)


The U.S. stock market trades normally today, but the bond market is closed for the Columbus Day holiday today. Overnight, the stock markets in Japan and Hong Kong were also closed for public holidays.

There are no economic reports due today, but investors look for clues on the economy from Chicago Fed President Charles Evans, who appears in Sydney while the U.S. markets are open today.

Fed Vice Chairman Stanley Fischer said on Sunday the central bank's decision to hold interest rates steady at its September meeting was a "close call," done largely to allow further progress on jobs.

Earnings season kicks into high gear later this week, with Friday ushering in the quarterly results from big financial institutions, including JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup.

Twilio (TWLO) filed for a follow-on offering, with most of the shares expected to be sold by existing stockholders. The cloud computing company won't receive any proceeds from those share sales.


Viacom (VIA) and CBS (CBS) may be closer to getting back together, with the Wall Street Journal reporting that both companies have hired advisers to explore a potential merger.

Chinese e-commerce giant Alibaba (BABA) has formed a partnership with Hollywood director Steven Spielberg's Amblin Partners to help the Spielberg company distribute movies in China.

Novartis (NVS) said a new study showed the combination of an experimental drug with an older treatment kept breast cancer in check for a good deal longer than current treatment regimens.

Merck (MRK) reported longer survival rates in a study that treated advanced lung cancer patients with its immune system-boosting drug Keytruda, compared to conventional chemotherapy.


"The Girl on the Train," an adaption of the best-selling novel, debuted at the top of the North American box office, with ticket sales of $24 million. "Miss Peregrine's Home for Peculiar Children," last week's top movie, dropped to second with $15 million. (AP)