Morning Brief

Another quad record set for takeoff on Wall Street

Key Points


Based on U.S. stock futures, the Dow, S&P 500, Nasdaq, and small-cap Russell 2000 were all likely to set new records at the open, after posting all-time high closes Monday, the first time all four finished at records on the same day since Dec. 31, 1999. (CNBC)

Oil was sharply higher again this morning, after surging nearly 4 percent Monday to the highest levels since late last month, as hopes for an OPEC production cut persisted. U.S. crude rolled over to the January contract after Monday's settle. (Reuters)

President-elect Donald Trump once again took The New York Times to task for its coverage of him, blasting the publication this morning in a tweetstorm, in which he wrote he's canceled today's planned meeting with Times representatives. (CNBC)

Trump told newscasters, including Lester Holt, Charlie Rose, George Stephanopoulos, and Wolf Blitzer that they got the election all wrong. The off-the-record gathering was typically the kind of event at which journalists and politicians clear the air. (NY Times)

Trump announced, in a video posted on YouTube Monday, a list of executive actions he plans to implement on the first day of his presidency, including an intention to withdraw from the Trans-Pacific Partnership free trade deal. (NBC News)

Responding to Trump's pledge to withdraw from TPP, Nike (NKE) told CNBC it was committed to fair and free trade and will continue to advocate for policies and programs to create new jobs and drive economic growth.

Rather than killing the North American Free Trade Agreement, Trump and his advisors appear set to push for substantial changes to the rules governing trade with Mexico and Canada. (WSJ)

The first episode of the reincarnation of the hit BBC television series "Top Gear" has become the biggest show premiere on Amazon's (AMZN) streaming service. "The Grand Tour" follows car adventures across the world. (CNBC)

Amazon has been in talks for live game rights with the National Basketball Association, Major League Baseball, the National Football League and more. (WSJ)

Boeing (BA) has named a senior General Electric (GE) executive to head its commercial airplanes division and announced a new services unit, in moves to capture more of the profitable market for parts and repairs after a jet is sold. (Reuters)

A strike planned for Nov. 29 at Chicago O'Hare International Airport will miss the Thanksgiving rush, but coincide with a nationwide day of protests that the Fight for $15 movement claims will be its most disruptive yet. (Chicago Tribune)

The driver of a school bus that was filled with elementary students when it crashed in Chattanooga, killing at least five children, has been arrested and faces charges including vehicular homicide. (AP)

A powerful earthquake hit northern Japan, generating a relatively small tsunami near Fukushima, the same region devastated by 30-foot tsunami surges following a massive quake in 2011, which killed 19,000 people. (Reuters)


The only major economic report of the day is out at 10 a.m. ET, when the National Association of Realtors releases existing home sales for October. Forecasts call for a 0.2 percent increase to an annual rate of 5.48 million units, following a 3.1 percent September gain.

Before-the-bell earnings include quarterly reports from Barnes & Noble (BKS), Dollar tree (DLTR), and Medtronic (MDT). Meanwhile, Hewlett-Packard Enterprise (HPE) and HP Incorporated (HPQ) lead this afternoon's list, along with GameStop (GME) and Urban Outfitters (URBN).

Palo Alto Networks (PANW) reported better-than-expected earnings. But revenue missed, and so did forward guidance. Revenue growth was the slowest since the cybersecurity firm went public. The stock was off about 11 percent in premarket trading.

Jack In The Box (JACK) came in 15 cents ahead of estimates with adjusted quarterly earnings of $1.03 per share, while the restaurant chain's revenue matched. However, the comparable restaurant sales increase of 0.5 percent was below estimates.


Caterpillar's (CAT) outlook was revised to "negative" from "stable" by Standard & Poor's, because of a continuing slump in commodities prices as well as a glut in the heavy equipment market.

AstraZeneca (AZN) received FDA approval to resume enrollment in trials for new cancer drugs. The trials had been put on hold because of cases of bleeding in some patients.

Novo Nordisk (NVO) and Sanofi (SNY) both received FDA approval for new combination treatments for diabetes. The competing treatments both stimulate insulin production in the pancreas.

Hormel (HRL) sold the unit that runs its Farmer John and Saag's Specialty Meats operations to privately held meat processor Smithfield Foods for $145 million in cash.


A new report finds the average age of a vehicle in the U.S. has climbed to an all-time high of 11.6 years, as drivers stretch out their payments on cars and trucks that are holding up longer. (CNBC)