Morning Brief

Futures under pressure; BofA beats; Trump 11-points behind

Key Points


U.S. stock futures were lower this morning, after two straight weeks of losses on Wall Street as earnings season accelerates and the perceived chances of a December interest rate hike grow larger. (CNBC)

Following Friday's flood of financial results, Bank of America (BAC) this morning reported third-quarter earnings that beat on both the top and bottom lines. Shares surged in premarket trading. (CNBC)

Deutsche Bank (DB) is considering scaling down its activities in the U.S. The German lender is fighting a proposed $14 billion Justice Department fine over financial crisis-era mortgage bond sales. (

German officials asking Tesla (TSLA) to stop including its Autopilot function in ads. The country's transport minister is concerned that drivers might feel their attention isn't needed while behind the wheel. (The Verge)

Tesla CEO Elon Musk has pushed back the unveiling of an "unexpected product" by two days. Separately, Tesla and Panasonic are teaming up to collaborate on the manufacture of PV cells. (CNBC)

Macy's (M) is holding firm with its decision to open on Thanksgiving Day. Even as many malls and retailers won't open, the retail giant is expected to greet shoppers an hour earlier than last year. (CNBC)

Samsung, stung by its Galaxy Note 7 disaster, is said to be gearing up to launch next week its own Chromebook, a laptop running Google's Chrome operating system, with a stylus. (CNBC)

The shakeup at McDonald's (MCD) continues, as two more longtime executives are set to depart the fast-food giant. In August, the company said its domestic president planned to retire at the end of 2016. (CNBC)

Looking to counter concerns about sugar-sweetened drinks, PepsiCo (PEP) chief Indra Nooyi pledged today to reduce significantly the calorie count of the firm's beverages. (CNBC)

Iraq on Monday launched a battle to liberate the northern city of Mosul from Islamic State in its most ambitious campaign since American forces left five years ago. (Reuters)

North Korea is warning it may carry out further nuclear tests. A top official says Pyongyang is prepared to launch a preemptive strike against the United States should the U.S. mobilize nuclear forces against it. (NBC News)

Under new Obama administration rules, which go into effect today, travelers can purchase unlimited quantities of Cuban rum and cigars as long as they are for personal consumption. (USA Today)

Flooding from Hurricane Matthew, which has yet to recede in some areas, is estimated to have caused $1.5 billion in damage in North Carolina, according to a new state estimate. (AP)


With three weeks to election day, Donald Trump tried to cast further doubt on the integrity of the voting process, just hours after his running-mate Mike Pence said Republicans would accept the outcome. (Reuters)

Hillary Clinton is ahead of Donald Trump by 11-points, according to a new NBC News/Wall Street Journal poll, conducted after the second debate. The third and final debate is set for Wednesday. (NBC News)

The joint fundraising committees backing Clinton and her party raised more than $290 million from July through September, including contributions from Hollywood's Steven Spielberg and Jeffrey Katzenberg. (CNBC)

The Trump-GOP fundraising efforts pulled in more than $200 million, including contributions from casino magnate Sheldon Adelson, activist investor Carl Icahn, and oilman Harold Hamm. (CNBC)

Billionaire venture capitalist Peter Thiel, who spoke at the GOP convention but had previously said he had no plans to donate, has decided to give $1.25 million in support of Trump. (NY Times)

A Republican party office in North Carolina was firebombed over the weekend, and a nearby building was scrawled with graffiti warning "Nazi Republicans" to "leave town or else." (NBC News)

Trump reacted strongly, tweeting "Animals representing Hillary Clinton and Dems in North Carolina just firebombed our office in Orange County because we are winning @NCGOP." (USA Today)


The New York Fed's October survey of state manufacturing activity kicks off Monday's economic calendar at 8:30 a.m. ET. The Fed is also out with September industrial production and capacity utilization at 9:15 a.m. ET.

Fed Vice Chairman Stanley Fischer delivers remarks at the New York Economic Club at 12:15 p.m. ET, followed by a question-and-answer session, which will no doubt touch on the future for rates.

In addition to BofA, Charles Schwab (SCHW), Hasbro (HAS), and JB Hunt (JBHT) are among the other companies releasing earnings this morning, while IBM (IBM), Netflix (NFLX), and United (UAL) are out this afternoon.


Mentor Graphics (MENT) is exploring strategic alternatives including a potential sale, according to Reuters. Activist Elliott Management, with an 8.1 percent stake, feels in the software maker is undervalued.

Constellation Brands (STZ) is near a deal to sell its Canadian wine business to the Ontario Teachers' Pension Plan for about $760 million, according to a Wall Street Journal report.

U.S. beauty giant Coty (COTY) is close to buying British hair products manufacturer GHD for nearly $500 million, according to Sky News. Coty just completed a $12 billion purchase of P&G's specialist beauty business.


"The Accountant" opened to a domestic box office-topping $24.7 million this weekend. The R-rated thriller, starring Ben Affleck as an autistic mathematician, overcame a lukewarm reception from critics. (AP)

Fox's animated series "The Simpsons" aired its 600th episode last night. The only other scripted U.S. primetime show to reach that milestone was "Gunsmoke," which ran for 20 seasons and a record 635 episodes from 1955 to 1975. (Deadline)

Warren Buffett may not be pregnant, but that didn't stop one of the world's richest men from volunteering to get his belly painted to help bring attention to safe maternal health. (CNBC)