Morning Brief

World markets soar on FBI's end of Clinton email review

Key Points


U.S. futures and stock markets in Europe and Asia soared today, after FBI Director James Comey informed Congress on Sunday that the newly revealed Hillary Clinton emails were examined and he concluded, as he did in July, that no charges were warranted. (NY Times)

This morning's strength on Wall Street, which has been favoring a Clinton win, was in contrast to last week's sharp decline as Trump gained in the polls. The S&P 500 closed down on Friday for a ninth straight session, the longest losing streak in 36 years.

Reacting to Comey's announcement just days ahead of tomorrow's election and nine days after the email bombshell, Donald Trump said the review could not have been conducted so quickly, calling it more proof Clinton is being "protected by a rigged system.' (CNBC)

Hedge fund billionaire David Tepper appears on CNBC's "Squawk Box" at 8 a.m. ET to talk about the election and the markets.

Rock icon Bruce Springsteen performs at a Clinton event in Philadelphia today. The Democratic nominee wraps up White House push with a midnight rally in the swing state of North Carolina. Clinton and Trump made closing arguments in USA Today op-eds. (CNBC)

On the final day of campaigning, Trump is also set to appear in North Carolina. The GOP nominee then heads to New Hampshire. The RealClearPolitics polling averages put him slightly ahead both of those battleground states.

Nationally, Clinton held a clear but narrow lead over Trump in the final NBC News/Wall Street Journal poll before Election Day. Clinton drew 44 percent support among likely voters to Trump's 40 percent. (CNBC)

Respondents to a special election edition of the CNBC Fed Survey overwhelmingly believe that Clinton will win the White House and a plurality want her to win, yet they side with Trump on many key economic issues.

Janet Reno, the first woman to serve as U.S. attorney general, has died. She was 78. Reno was at the epicenter of several political storms during the Bill Clinton administration, including the deadly raid on the Branch Davidian compound at Waco, Texas. (AP)

An earthquake with a preliminary magnitude of 5.0 struck near Cushing, Oklahoma, prompting evacuations, but there were no reports of injuries, authorities said. Oil pipelines intersect in Cushing, which is considered a hub for crude shipments. (Reuters)

Oil was sharply higher this morning after a statement said OPEC producers were committed to a deal made in September to cut crude output in order to try to boost the market. (Reuters)

The Commerce Department is expected to launch a formal investigation today into whether Chinese steel companies are shipping steel through Vietnam to avoid U.S. import tariffs. (WSJ)

Berkshire Hathaway (BRKA, BRKB) missed estimates on earnings but beat on revenue. Other information in the report suggested the Warren Buffett-run firm maintained its 10 percent stake in Wells Fargo (WFC) despite the bank's sales practices scandal. (AP)

A U.S. regulator found software in some Audi vehicles that lowered carbon dioxide emissions under test conditions. The device, which was not the same as the one that triggered last year's diesel emissions scandal at Audi parent Volkswagen. (Reuters)

Toys R Us once again plans to open its doors on Thanksgiving Day to welcome Black Friday shoppers. The stores will open at 5 p.m. local time Nov. 24 for 30 hours of continuous shopping. (CNBC)


Wall Street bonuses are expected to decline for the third consecutive year, reflecting a period of busted mergers, limited trading activity and muted hedge fund returns.

The only U.S. economic report of the day comes this afternoon, with the government September report on consumer credit at 3 p.m. ET.

Earnings reports out this morning include MGM Resorts (MGM) Sotheby's (BID). The after-the-bell list includes AMC Entertainment (AMC), Marriott (MAR), News Corporation (NWSA), and Priceline (PCLN).


Chipotle Mexican Grill (CMG) and billionaire activist investor Bill Ackman have assigned a confidentiality pact, according to Reuters, agreeing to engage in discussions about possible changes at the restaurant chain.

Alphabet's (GOOGL) venture capital arm CapitalG, earlier known as Google Capital, disclosed an investment in Snapchat by adding the social networking firm's logo to a page on its investment portfolio website.

HSBC (HSBC) said the retail banking profits in the U.K. would be "challenging" for the next year, and also reported a jump in its capital levels to 13.9 percent.

Toyota (TM) is considering mass production of electric vehicles for a 2020 introduction, according to Japan's Nikkei newspaper, which said such a move would be a significant reversal of strategy for the automaker.

A top Baidu (BIDU) executive, who had been seen as a potential CEO successor, resigned after an internal probe found conflicts of interest, according to Reuters.

Oracle (ORCL) said more than 50 percent of NetSuite (N) stockholders have backed its $9.3 billion acquisition bid for the cloud storage company. Oracle said the takeover deal is set to be completed today.


A strong batch of new films drew audiences to the theaters in large numbers this weekend, including Marvel's "Doctor Strange," which took the No. 1 spot with $85 million in domestic ticket sales. (AP)