Morning Brief

From Wall Street to Washington, Trump's inauguration is front and center

Key Points


U.S. stock futures were drifting this morning, just hours before Donald Trump's inauguration as the nation's 45th president. But in recent sessions, the rally since Election Day cooled off. (CNBC)

Heading into Friday's trading, the Dow was on a five-session losing streak, with both the Dow and S&P 500 looking at two straight weeks of losses. The Nasdaq was on track for its first weekly decline in three. (CNBC)

Trump is preparing to sign executive actions on his first day in the White House today, taking opening steps to crack down on immigration, build a wall on the U.S.-Mexican border and roll back Obama policies. (Reuters)

Sometime before he's sworn in, Trump will sit down with the top military officers to get a briefing that provides him with an understanding — and the tools — for how he would wage nuclear war. (NBC News)

Warren Buffett, who had supported Hillary Clinton, told CNBC on the eve of Donald Trump's inauguration, the United States will "work fine" under the new administration because American has the "secret sauce."

Billionaire John Paulson, who supported Trump's candidacy and helped shape his economic agenda, increased his hedge fund's long exposure to stocks after Election Day. (CNBC)

The U.S. is facing a period of dollar strengthening, fueling likely tensions between the new administration and the Fed, BlackRock (BLK) chief Larry Fink told a panel in Davos today. (Reuters)

George Soros, in a Bloomberg interview at the World Economic Forum in Davos, said he thinks Trump will fail because the ideas that guide him are "inherently self-contradictory." Soros also called Trump a "would-be dictator."

Tech entrepreneur and Facebook board member Peter Thiel, a Trump supporter, could soon become the next U.S. ambassador to Germany, according to the New York Post.

David Nason, a GE executive and a Treasury official in 2008, is a front runner to become the Fed's Wall Street regulator under Trump. Nason was a deputy to former Treasury Secretary Henry Paulson. (Reuters)

Investors are focusing on earnings from four Dow components, beginning with General Electric (GE), which this morning matched estimates with quarterly profit but missed on revenue. (CNBC)

Procter & Gamble (PG) this morning reported earnings and revenue that beat expectations. The consumer products giant also increased its full- year 2017 guidance on organic sales growth. (CNBC)

American Express (AXP) late Thursday missed on earnings but exceed estimates with revenue. The financial services firm raised its 2017 earnings outlook, but the CEO said the market environment continues to be "very challenging." (CNBC)

IBM (IBM), after the bell Thursday, beat expectations on earnings and revenue, while reporting a 33 percent increase in its cloud business. But sales dropped for the 19th consecutive quarter. (CNBC)

Alphabet's (GOOGL) Google unit is pushing its own products to top spots in search results, according to an analysis by The Wall Street Journal. Those products include everything from Pixel phones to Nest smart thermostats.

An investigation into the faulty batteries that led Samsung to pull the Galaxy Note 7 found some of them were irregularly sized, causing overheating, while others had manufacturing problems. (WSJ)

Mexican drug kingpin Joaquin "El Chapo" Guzman has been extradited to the U.S., a little more than a year after he was caught following a brazen escape from a maximum-security prison. (NBC News)

Eight people have been found alive under the avalanche that buried an Italian mountain hotel almost two days ago and rescuers are working to free them from the snow. (Reuters)


For the second time in two days, Fed Chair Janet Yellen last night warned about the risks letting the economy run too hot, advocating gradual interest rate hikes. In December, the Fed signalled three hikes for 2017.

Two more Fed officials are scheduled to speak today, including Philadelphia Fed President Patrick Harker at 9 a.m. ET this morning and San Francisco Fed President John Williams 10 p.m. ET tonight.

Baker Hughes releases at 1 p.m. ET its weekly rig count. Meanwhile, oil prices were higher this morning for the second day on hopes a weekend meeting of producers demonstrate compliance to a global output cut deal.


JPMorgan (JPM) chief Jamie Dimon saw a 3.7 percent rise in compensation in 2016, according to an SEC filing. Dimon received a $1.5 million salary and incentive-based compensation of $26.5 million, paid in both cash and stock.

Wells Fargo (WFC) is merging its international business with its wholesale banking operation. The head of international was named chief operating officer for the newly constituted wholesale banking unit.

Target (TGT) promoted executive Rick Gomez to chief marketing officer, a position that had been vacant since August when Jeff Jones left to take a job at raid-hailing service Uber.