Morning Brief

Will today be the day for Dow 20K? It's only about 25 points away

Key Points


U.S. stock futures were drifting this morning, as the Dow takes aim again at 20,000, ahead of the open. Since the election, the Dow has posted 17 record closes, including Tuesday. (CNBC)

Nike (NKE) after the bell reported better-than-expected earnings and revenue. But soft future order metrics initially sent the Dow stock lower. Executives later reassured investors, and shares were sharply higher in premarket trading. (CNBC)

FedEx (FDX) shares were sinking in the premarket, after the delivery giant missed estimates by 10 cents with quarter earnings $2.80 per share. Profit margins were lower than a year ago, though revenue did slightly beat forecasts. (CNBC)

Oil was higher this morning, as the lead U.S. futures contract rolled to February. Industry data showed a larger-than-expected stockpile draw. The government's inventory report is out at 10:30 a.m. ET. (

German police investigating the deadly Berlin truck attack are looking for a Tunisian man after finding an ID document under the driver's seat. A suspect arrested in the immediate aftermath was released without being charged. ISIS has claimed a role. (Reuters)

The families of three men killed at Orlando's Pulse gay nightclub are suing Twitter (TWTR), Alphabet's (GOOGL) Google, and Facebook (FB) in federal court, accusing the companies of providing "material support" to the self-radicalized gunman. (Reuters)

Adam Saleh — a YouTube star with 1.6 million followers — claimed he escorted off a Delta (DAL) plane, after talking on the phone to his mother in Arabic. (The Sun)

For a third time in about a decade, a series of massive explosions destroyed a popular fireworks market outside Mexico City, killing at least 29 people and wounding dozens of others. (Reuters)

President-elect Donald Trump plans to put his pick for Commerce secretary, billionaire distressed asset investor Wilbur Ross, in charge of his get-tough trade policy. But the U.S. Trade Representative won't be merged with Commerce. (Reuters)

Oracle (ORCL) cloud services chief George Polisner employee has announced his resignation via LinkedIn, after learning Safra Catz, CEO of the software firm, joined Donald Trump's transition team. (CNBC)

President Barack Obama moved to indefinitely block drilling in vast swaths of U.S. waters by invoking a 1953 law. Trump has vowed to open more federal land to oil and natural gas production. (CNBC)

A new study shows all 50 states and the District of Columbia saw decreases — often sharp decreases — in their rates of people lacking health insurance after implementation of Obamacare. (CNBC)

Amazon's (AMZN) German warehouses are striking over pay and working conditions until Christmas Eve. Germany represents the American e-commerce giant's second-largest market behind the U.S. (Reuters)

The embattled No. 3 bank in Italy warned today that it would run out of cash at a faster pace than previously forecast, if a recapitalization process does not take place. Shares were slammed. (CNBC)

The Swiss Competition Commission fined several European and U.S. banks over four instances of interest rate cartels. The more severe penalty was almost $33 million against JPMorgan (JPM). (Reuters)

Most major U.S. banks continue to charge high overdraft fees, according to a new report, which also shows revenue from all service charges more than doubled during the last three decades. (USA Today)

Following similar GM moves, Ford (F) plans to close its Kansas City, Missouri pickup truck and van plant for a week in early January to match softening demand. (Reuters)

Research firm eMarketer has cut its forecast for smartwatches this year, indicating wearable usage in the U.S. would only grow 24.7 percent this year, versus a previous forecast of 60 percent growth. (CNBC)


Officers of the largest U.S. pension fund are recommending their investment targets drop a half percent to 7 percent, because of a cash crunch and changing market conditions, according to the Wall Street Journal.

After watching mortgage rates rise for nearly two months, home loan application volume rose 2.5 percent last week, according to the Mortgage Bankers Association.

The National Association of Realtors issues November existing home sales at 10 a.m. ET, with forecasts calling for a 1.1 percent drop last month, following a 2.0 percent gain in October.

Earnings reports this morning include Accenture (ACN), Finish Line (FINL), Paychex (PAYX), and Winnebago (WGO). Bed Bath & Beyond (BBBY), Micron Technology (MU), and Red Hat (RHT) are out this afternoon.

Amgen (AMGN) raised its quarterly dividend by 15 percent to $1.15 per share, paid on March 8 to shareholders of record as of Feb. 15.


In the latest Twitter (TWTR) departure, the chief technology officer is leaving after five years. Adam Messinger, a former Oracle executive, had served as CTO at the social network since March of 2013.

Pandora's (P) chief operating officer is leaving, following a short transition period. The departure of Sara Clemens comes amid ongoing buyout rumors involving SiriusXM (XIRI).

GoPro (GPRO) set aside another $7 million to cover layoffs and other restructuring expenses. The action camera maker last month announced a 15 percent cut in its workforce.

Coca-Cola (KO) bought Anheuser-Busch InBev's (BUD) 54.5 percent stake in Africa's largest Coke bottler for $3.15 billion. The deal represented the last condition in the beer brewer's purchase of rival SABMiller.

Invensense (INVN) agreed to be bought by Japanese electronics company TDK for $1.33 billion. Invensense, a U.S.-based chipmaker, is a key supplier for Apple (AAPL) and Samsung.

Microsoft (MSFT) was awarded a five-year, $927 million technical support and consulting contract by the Defense Department. Earlier this year, the DoD hired the software giant to upgrade 4 million seats to Windows 10.

Stanley Black & Decker (SWK) sold the majority of its mechanical security businesses to Swiss security firm Dormakaba for $725 million in cash. The transaction is expected to close in the first quarter of next year.


The winter solstice, the shortest day of the year in the Northern Hemisphere, happened at 5:44 a.m. ET this morning. South of the equator, today ushers in astronomical summer. (USA Today)