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Wall Street continues Trump rally after another Dow record

MONDAY MARKETS

U.S. stock futures were higher this morning, after the Dow finished at another post-election record on Friday. But the S&P 500 closed slightly lower, and ahead of Monday's session, remained about 1.2 percent away from its closing high. (CNBC)

The Dow has surged into the year-to-date lead after its recent rally, now up 8.2 percent for 2016; nearly 5.7 percent of that advance came last week alone. For the year, the S&P 500 is up 5.9 percent, while Nasdaq is higher by 4.6 percent. (CNBC)

Bond yields continued to power higher, touching December 2015 highs, as traders bet that Donald Trump's policies would boost inflation. Meanwhile, The dollar surged to an 11-month high against a basket of major currencies. (CNBC)

A two-day Trump thumping wiped out more than $1 trillion across global bond markets worldwide, the worst rout in nearly 1-and-a-half years, which may mark the long-awaited end to a more than 30-year-old bull run. (Reuters)

Gold prices, under pressure again this morning, have fallen 8.5 percent since Election Day, amid investor optimism that Trump's policies could boost the economy, and thus riskier assets. (WSJ)

TRUMP TRANSITION

Reince Priebus, the chairman of the Republican National Committee, has been chosen to be Trump's chief of staff. The 44 year-old Wisconsin native took the reins of the RNC in 2011. (CNBC)

Steve Bannon, ex-president of conservative Breitbart News and more recently chief executive of Trump's campaign, is taking on a role as Trump's "chief strategist and senior counselor." (NBC News)

In a "60 Minutes" interview, Trump said he's aware of reports that some supporters may be harassing Latinos, Muslims, and members of other minority groups — a development he said must stop immediately, even as protests against Trump continued in cities across the nation. (CNBC)

Trump also promised on "60 Minutes" not to take long vacations and not to take the presidential salary.He said he'd be "restrained" on social media as president. But hours before the broadcast, Trump lashed out at the New York Times on Twitter. (USA Today & NBC News)

Trump said he would consider leaving in place certain parts of Obamacare, an indication of possible compromise after a campaign in which he pledged repeatedly to repeal the 2010 health-care law. (WSJ)

Trump and China's president established a "mutual respect," according to a statement from the president-elect. Meanwhile, a Chinese newspaper said Apple iPhones and other U.S. goods could suffer sales hits there if Trump imposes high tariffs. (CNBC)


CORPORATE NEWS

Samsung announced an $8 billion deal to buy U.S.-based automobile technology firm Harman International (HAR). The all-cash transaction is the biggest-ever overseas acquisition for a South Korean company. (The Verge)

Mentor Graphics (MENT) is being bought by Germany's Siemens for $4.5 billion in cash. Oregon-based Mentor, a maker of software used in designing computer chips, was up about 19 percent in premarket trading. (Reuters)

Coca-Cola (KO) may become a takeover target of beer brewing giant Anheuser-Busch InBev (BUD), according to the Sunday Telegraph, which also reported AB InBev was looking at different beverage targets.

American Apparel filed its second bankruptcy in just over a year today, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder. (Reuters)

Pfizer's (PFE) Celebrex arthritis drug is at least as safe as prescription strength doses of ibuprofen and naproxen, according to the results of a 10-year study. (Reuters)


BY THE NUMBERS

There are no economic reports due today, ahead of what's otherwise going to be a busy week for economic reports.

Dallas Fed President Rob Kaplan, Richmond Fed President Jeffrey Lacker, and San Francisco Fed President John Williams all speak throughout the day.

President Barack Obama holds a news conference at 3:15 p.m. ET.


STOCKS TO WATCH

Novartis (NVS) is considering the sale of its Alcon eye-care products division. The drugmaker's chairman told a Swiss weekly newspaper the division has not done as well as the company had expected.

Johnson & Johnson (JNJ) saw mixed results for an experimental drug designed to treat rheumatoid arthritis, when compared to Abbvie's (ABBV) best-selling Humira treatment.

Toyota (TM) agreed to settle a case involving truck rust for up to $3.4 billion. The agreement involves various Tacoma, Tundra, and Sequoia models that were alleged to have poor rust protection.

The ex-CFO of Autonomy was indicted for allegedly making fraudulent claims ahead of Hewlett-Packard's $11 billion purchase in 2011. HP eventually took an $8.8 billion writedown, and successor firm Hewlett-Packard Enterprise (HPE) sold off parts of the Autonomy business earlier this year.

Marvel's "Doctor Strange" led the North American box office for the second weekend with $43 million in ticket sales. Alien thriller "Arrival" scored the top debut with a better-than-expected $24 million. (AP)