Morning Brief

Election and Fed put investors on edge

Key Points


U.S. stock futures were pointing to a seventh consecutive day of losses for the S&P 500, which would be the benchmark index's longest losing streak in five years, as Fed and election jitters weigh on sentiment. (CNBC)

The Fed wraps up its two-day November meeting with a policy statement and interest rate decision at 2 p.m. ET. No rate move is expected, but a hike at the December meeting is widely considered possible. (CNBC)

Traders said a surge in the so-called "fear index," coupled with a relatively less severe selloff in stocks, points to how unprepared the market is for a possible Donald Trump election win. (CNBC)

Hillary Clinton's chances of winning 270 electoral votes have hardly changed from last week. While Democrat agitation is palpable, it's driven more by anger than panic. (CNBC)

A top Clinton aide is urging the FBI to disclose what it knows about any ties between Trump and Russia, accusing the agency of unfairly publicizing its inquiry into Clinton's email practices. (Reuters)

Microsoft (MSFT) plans to release a new patch for its Windows operating system on November 8, following news that Russia-linked hackers were exploiting a Windows flaw.

Authorities said two police officers in the Des Moines, Iowa, area were shot to death in their cars in separate, "ambush-style attacks," about two miles apart early this morning. A suspect remained on the run. (NBC News)

Valeant (VRX) was under some pressure in the premarket, after surging Tuesday, on news the embattled company is considering selling its stomach-drug unit in a possible $10 billion deal. (CNBC)

Herbalife (HLF), a short target of hedge fund billionaire Bill Ackman, was lower in premarket trading, after the company reported earnings and announced its CEO would transition to executive chairman, with the COO ascending to the helm. (CNBC)

Tesla (TSLA) said its planned merger with SolarCity (SCTY) would add $500 million to the electric automaker's balance sheet over the next three years, while contributing more than $1 billion in revenue next year. (CNBC)

AT&T's (T) practice of exempting its streaming video services from data usage caps is a big issue for regulators weighing the company's proposed $85 billion acquisition of Time Warner (TWX). (WSJ)

Ahead of the premiere of Netflix's new show "The Crown," the streaming video giant told CNBC it's working on an offline feature, but the U.S. might not be the first to receive the new capability. (CNBC)

Despite possible higher prices, the federal Obamacare exchange, which began open enrollment for 2017 individual plans on Tuesday, was handling 50 percent more applications for eligibility. (CNBC)

A record number of 27.3 million people are expected to fly during the 12-day period surrounding Thanksgiving, as they look to take advantage of low fares. That's up 2.5 percent from last year. (CNBC)


Oil prices fell for a fourth session this morning, after industry data showed a surprise build in crude inventories. The government releases its weekly stockpile report at 10:30 a.m. ET.

Ahead of Friday's government employment report for October, ADP is out with its private-sector jobs numbers at 8:15 a.m. ET. Economists expect U.S. companies to have added 170,000 positions last month.

Total mortgage application volume fell 1.2 percent last week, as home loan rates rose. The Mortgage Bankers Association also said refi applications dropped a greater 2 percent.

Companies reporting earnings this morning include Alibaba (BABA), Clorox (CLX), Estee Lauder (EL), and Time Warner (TWX). The after-the-bell list includes Facebook (FB), 21st Century Fox (FOXA), and Whole Foods (WFM).


Square (SQ) reported a smaller-than-expected quarterly loss of 9 cents per share. Revenue also beat. The mobile payments firm, co-founded and run by Jack Dorsey who's also CEO of Twitter (TWTR), raised full-year guidance.

Etsy (ETSY) lost 2 cents per share, matching estimates. Revenue was slightly above. The online handmade goods marketplace raised full-year guidance, and said its CFO is leaving to pursue other opportunities.

Electronic Arts (EA) reported a better-than-expected adjusted profit of 56 cents per share. Revenue also beat. But the videogame maker put its holiday sales forecast short of estimates.

Match Group (MTCH) beat estimates with adjusted quarterly profit of 23 cents per share, while the operator of dating websites saw revenue come in above forecasts on an increase in paid users.


The Chicago Cubs were able to stay alive in the World Series, with a 9-3 win over the Indians. Game 7 tonight, also in Cleveland, will decide which team gets to end its decades-long championship drought. (USA Today)

Actor Charlie Sheen took a swipe at the Indians for not letting him throw out a first pitch in the World Series as his character from the 1989 movie "Major League," a move fans have been calling for. (USA Today)