Morning Brief

Wall Street looks to extend its record run

Key Points


U.S. stock futures were higher this morning after record closes for the Dow, S&P 500, Nasdaq, and Russell 2000. The S&P on Friday finished about 8 points away from $20 trillion in market cap for the first time. (CNBC)

The exchange-traded funds that track the Dow Jones Industrial average have pulled in $2.6 billion in new assets so far this year, more than any other U.S. stock ETF. (WSJ)

Global demand for oil could outdo the ten-year average in 2017 as the health of the world economy improves, OPEC's latest monthly report forecasts. Oil prices were under some pressure this morning.

Investors were looking ahead to Fed Chair Janet Yellen's congressional testimony tomorrow and Wednesday for signals on whether the projected three interest rate hikes this year remain on track. (CNBC)

Fed Gov. Daniel Tarullo, the central bank's top financial regulator, has submitted his resignation, effective April 5. He said the administration of President Donald Trump did not ask him to leave. (CNBC)

The Senate is expected to confirm Steven Mnuchin as Treasury secretary this evening, returning a Wall Street veteran to the top U.S. economic and financial job for the first time in eight years. (Reuters)

President Trump meets Canadian Prime Minister Justin Trudeau at the White House today. The two leaders are expected to talk about women in the workplace and trade. Trudeau also plans to go to Capitol Hill. (AP)

The White House is said to be reviewing whether to retain National Security Adviser Mike Flynn amid a furor over his contacts with Russian officials before Trump took office. (WSJ)

North Korea is declaring its weekend ballistic missile launch, the first since Trump became president, a resounding success. Earlier this month, Trump put Iran "on notice" for a missile test. (NBC News)

Trump, fresh from a round of diplomacy with Japan's prime minister, renewed a feud with billionaire Mark Cuban on Sunday, a familiar foil with whom he's sparred in the past. (CNBC)

Sears (SHLD) joins the defections from Trump brands, discontinuing online sales of 31 items in the Trump Home catalog at its Sears and Kmart units, saying it wanted to focus on more profitable items. (CNBC)

Verizon (VZ) starts selling unlimited data plans today for the first time since 2011. Rival AT&T (T) offered unlimited data plans to customers who sign up for the company's DirecTV service. (CNBC)

Walt Disney (DIS) hiked admission prices for U.S. theme parks by as much as $5 for certain one-day tickets. The price increase, effective Sunday, are an annual tradition for Disney parks. (CNBC)

The United Auto Workers said the union would welcome Tesla (TSLA) workers. The UAW also denied charges that a Tesla worker who criticized working conditions at a California plant was on the union's payroll. (CNBC)

Amazon (AMZN) and Alphabet's (GOOGL) Google have signed deals to handle data from Snapchat parent Snap worth a total of $3 billion over five years. The move follows last week's blockbuster Snap IPO filing. (The Times)

In a regulatory filing late Friday, Hain Celestial Group (HAIN) disclosed being investigated by the SEC over accounting practices. The stock was about 7 percent lower in the premarket. (

The FDA last week approved a drug made by Marathon Pharmaceuticals to treat a type of muscular dystrophy. The list price is $89,000 per year, but Marathon plans a "robust" assistance program. (Reuters)

Nearly 190,000 people were ordered to evacuate a cluster of Northern California towns and cities Sunday after a spillway serving the country's tallest dam suffered "potentially catastrophic damage." (NBC News)

Just days after residents finished digging themselves out, another winter storm threatens to do it all over again in upstate New York, New Jersey, New Hampshire, Maine, and Vermont. (NBC News)

Even though she flubbed one of her live performances last night, Adele walked away the belle of the ball, taking home five Grammys, including album, record and song of the year. (AP)

Before his death, Prince had pulled his music from most streaming services two years ago. But now, a number of his albums have returned to sites such as Spotify, Apple Music, and Pandora. (The Verge)


There are no economic reports on Monday's calendar, but things heat up later in the week, with January producer prices tomorrow, consumer prices and retail sales Wednesday, and housing starts Thursday.

First Data (FDC), Teva (TEVA), and Restaurant Brands (QSR) are among the companies reporting earnings this morning, while Noble Energy (NBL), Rent-A-Center (RCII), and Vornado (VNO) are out after the bell.


Macy's (M) could see a 50 percent jump in its share price if the retailer were to strike a takeover deal, according to an article in Barron's. Macy's stock was higher in the premarket.

IBM (IBM) has unveiled a version of its Watson natural language computer system designed to power cybersecurity operations centers. Watson can help security analysts parse research reports.

Allergan (AGN) has come under scrutiny for its handling of non-GAAP accounting. The SEC sent a letter to the drugmaker, questioning its calculations of adjusted earnings per share.

Volkswagen's (VLKAY) ex-chairman Ferdinand Piech refused to testify before German lawmakers about the diesel emissions scandal. VW's second-largest shareholder and Germany's transport minister testify on Thursday.


"The Lego Batman Movie" won the domestic box office with $55.6 million in ticket sales. "Fifty Shades Darker" sold $46.8 million, while "John Wick: Chapter 2" took third place with $30 million. (AP)

The Westminster Dog Show is held in New York City today and tomorrow. For the first time ever, cats were included at the weekend "Meet the Breeds" event. But cats won't compete. (USA Today)