Morning Brief

At the start of Trump's full week, Wall Street wobbles

Key Points


U.S. stock futures were under pressure, as the dollar hit a more than six-week low against other major currencies. The Dow and S&P 500 were coming off their first back-to-back weekly losses since October. (CNBC)

McDonald's (MCD) reports earnings this morning, kicking off a busy week of quarterly results from other Dow components as well as economic reports in the lead-up to next week's Fed meeting. (CNBC)

Oil was falling this morning for the first time in three sessions, as prospects of rising U.S. production weighed on the market. International producers said over the weekend they made a strong start to their cut deal. (Reuters)

Russia's energy minister told CNBC in an exclusive interview he welcomes President Donald Trump's decision to unveil a new energy plan for the U.S., hoping for a return to a dialogue before the Ukraine incursion.


Entering his first full week as president, Trump said he plans talks soon with Canada and Mexico to begin renegotiating the NAFTA. Trump meets with congressional leaders today. (AP)

Trump tweeted this morning, saying it's going to be a busy week with a "heavy focus on jobs and national security," adding top executives were coming in this morning "to talk manufacturing in America."

Republican Sens. John McCain and Lindsey Graham said they would vote for President Donald Trump's secretary of state nominee Rex Tillerson today, despite concerns over his Russian ties. (NBC News)

The Senate is also expected to confirm Mike Pompeo, Trump's nominee for the director of Central Intelligence. The vote was delayed on Friday, after three Democrats opposed what they called a "rushed" process. (Telegraph)

U.S. counterintelligence agents have reportedly investigated communications that Trump's national security adviser, Michael Flynn, had with Russian officials. The Wall Street Journal said it's unclear if they found anything.

Ethics lawyers plan to sue Trump in federal court today, over business interests that they say put him in violation of the Constitution by receiving payments from foreign governments. (NBC News)

Kellyanne Conway, counselor to President Trump, said the White House press secretary gave "alternative facts" when he inaccurately described Friday's inauguration crowd. (NBC News)

Conway also said the president would not be releasing his tax returns, reversing months of repeated campaign-trail promises to do so after an audit is completed. (NBC News)


The SEC is investigating whether two data breaches at Yahoo (YHOO), before its agreement to sell its internet business to Verizon (VZ), should have been disclosed sooner. Yahoo reports earnings after the bell. (WSJ)

Foxconn is considering building a $7 billion display panel manufacturing facility in the United States in a joint venture with Apple (AAPL) that could create up to 50,000 jobs. (WSJ)

Samsung finally identified what went wrong with its Galaxy Note 7 handsets that led to one of the worst technology recalls in recent times, a day before its full-year earnings. (CNBC)

The executive charged with leading Xiaomi's international expansion after being poached from Google in 2013, will leave the Chinese tech giant at a critical time for the company. (CNBC)

A computer problem forced United (UAL) to ground all domestic flights for about an hour last night, causing a cascade of delays and annoying customers throughout the U.S. (CNBC)

Sierra Nevada Brewing has issued a recall in the Midwest, South, and East Coast of some of its bottled beer after detecting a flaw that could allow glass to break and fall inside. (USA Today)

Central and south Florida braced for violent thunderstorms as a weather system that killed 18 people in Georgia and Mississippi over the weekend was moving south. (NBC News)


Qualcomm( QCOM) calls a lawsuit by Apple over the former's licensing practices baseless. Apple claims that Qualcomm has demanded unfair terms for use of its technology, leveraging a monopoly position.

A new JPMorgan report predicts that T-Mobile (TMUS) will likely be involved in a consolidation-based transaction in the next five years. The analysis puts the chances at 90 percent.

Blackstone (BX) is aiming to raise at least $5 billion for a new Asia real estate fund, according to a Reuters report, aiming to launch the fund within the next 12-16 months.

Merck (MRK) and Bristol-Myers Squibb (BMY) have resolved a patent dispute over the cancer drug Keytruda. Merck has agreed to pay $625 million to Bristol-Myers and pay royalties for non-exclusive marketing rights.

Actelion's hypertension drug Opsumit missed its primary target in a late-stage study, which some say could impact Johnson & Johnson's (JNJ) efforts to buy the Swiss drug maker.


The Patriots rolled over the Pittsburgh Steelers, reaching their ninth Super Bowl, the most in NFL history. New England faces the Atlanta Falcons, who crushed the Green Bay Packers to get there. (NBC Sports)

M. Night Shyamalan's psychological thriller "Split" blew away box-office expectations, earning $40.2 million in ticket sales over inauguration weekend. The movie cost less than $10 million to make. (AP)