Morning Brief

Wall Street's pause from its record-setting pace is set to continue

Key Points


U.S. stock futures were lower this morning after a relatively flat session on Friday, taking a break from a flurry of recent records. On the week, the Dow was up four in a row while the S&P 500 and Nasdaq were up six straight. (CNBC)

FBI Director James Comey asked the Justice Department to publicly reject President Donald Trump's assertion that former President Barack Obama ordered wiretapping of Trump during the election, according to the New York Times.

North Korea fired four ballistic missiles early today. Three landed in what Japan considers an exclusive economic zone, the latest in a series of provocative tests by the reclusive state. (Reuters)

OPEC Secretary General Mohammad Sanusi Barkindo said, ahead of today's start of the CERAWeek oil conference, that it was "premature" to say whether OPEC and non-OPEC producers will extend their production cuts after May. (CNBC)

China's National People's Congress has kicked off with the government's annual setting of its economic growth target at "around 6.5 percent, or higher if possible," which would be lower than last year. (CNBC)

A revised executive order temporarily barring U.S. entry of people from certain Muslim-majority countries is expected from the White House as soon as today. Iraq is seen being removed from the list. (AP)

Republicans are set to introduce this week their much-awaited measure to get rid of Obamacare. A draft bill obtained by NBC News would repeal much of the current law and put in place the GOP's vision for health care.

As soon as tomorrow, the Trump administration is expected to announce its agreement with major automakers that future mileage and emissions standards should be overhauled. (NY Times)

PSA Group, maker of Peugeot, has agreed to buy European rival Opel from General Motors (GM) in a deal valuing the business at $2.3 billion. GM said the sale was not driven by the House GOP push for a border tax. (Reuters)

Ford (F) is testing large-scale 3-D printing technology for parts, which could allow drivers to customize cars for a lower price. Making a small batch of parts at the moment is expensive and inefficient. (CNBC)

Deutsche CEO John Cryan has denied to CNBC recent media reports that he's growing tired of leading the embattled German lender, which announced another strategic overhaul, including an $8.5 billion capital raise.

Space-transportation firm Blue Origin, owned by Amazon founder Jeff Bezos, is expected to announce this week some customers and new initiatives, the latest step toward its long-term goal of building rockets powerful enough to penetrate deep into the solar system. (WSJ)

Elon Musk, the billionaire behind Tesla (TSLA) and SpaceX, tweeted a symbol of his frustrations with West Coast traffic, saying he's "going to build a tunnel boring machine and just start digging." (CNBC)

The R-rated "X-Men" spinoff "Logan" from 21st Century Fox (FOXA) won the domestic weekend box office, opening with $85.3 million ticket sales. Meanwhile, Jordan Peele's low-budget horror sensation "Get Out" slipped to No. 2. (AP)


It's a busy with for economic numbers, starting with January factory orders issued at 10 a.m. ET. The February private-payrolls ADP employment report is released on Wednesday. The government jobs data for last month is out on Friday.

Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey by regional investment bank EFG Hermes showed.

About 2,700 people had seven-figure pay packages at the tax-exempt nonprofits, including many hospitals and colleges, in 2014, a number that was up a third in three years, according the Wall Street Journal.


Snap (SNAP) continued its roll on Day 3 of trading, with the stock gaining another nearly 4 percent in premarket trading. The IPO of Snapchat's parent surged 44 percent on Thursday's debut and 10.6 percent Friday.

Samsung Bioepis has won a high-stakes court case against U.S. drug firm AbbVie (ABBV) for a biosimilar arthritis treatment Humira, the world's best-selling drug. Samsung hopes to sell its version in European markets as early as next year.

CSX (CSX) is nearing a deal with activist hedge fund Mantle Ridge to install Hunter Harrison, a veteran industry executive, as railroad's new CEO. The deal could be announced as early as this week.

Bill Ackman's Pershing Square has filed a prospectus for the right to sell millions of shares of Chipotle (CMG). Pershing said it doesn't have immediate plans to divest of the shares but it "reserves the right to do so."

Amazon (AMZN) has reached a deal to allow people to pick up packages at nearly 4,000 Repsol gas stations across Spain and Portugal. The service is set to begin over the next two months, according to the Financial Times.


An apartment inside Trump Tower, listed on rental website Airbnb until last week, had offered, for $300-$450 per night, a prime location and a lot of security. (NY Times)