Morning Brief

Wall Street just can't seem to break out of its March malaise

Key Points


U.S. stock futures were higher this morning. The Nasdaq hit another intraday high on Monday, but again failed to close at a record. The Dow and S&P 500 were on a three-session losing streak. (CNBC)

President Donald Trump meets with the Republican House Conference this morning, as GOP lawmakers re-crafted their Obamacare replacement bill in hopes of satisfying critics. (Reuters)

The U.S. government is temporarily barring passengers on certain flights originating in eight other countries from bringing laptops, iPads, cameras and most other electronics in carry-on luggage starting today. (AP)

The Trump administration is considering sweeping sanctions aimed at cutting North Korea off from the global financial system as part of a broad review of measures to counter Pyongyang's nuclear and missile threat. (Reuters)

As Supreme Court nominee Neil Gorsuch enters his second day of confirmation hearings in the Senate, his fate is dependent upon the support of Democratic senators who are embroiled in partisan fighting over the politics of the high court and a controversial president. (NBC News)

Secretary of State Rex Tillerson plans to skip a NATO meeting of foreign ministers in April to attend a U.S. visit by the China's president. Tillerson is set to travel to Russia later that month. (AP)

The Republican chairman of the House Intelligence Committee, after spending hours trying to defend Trump, closed Monday's hearing saying there's "a big gray cloud" over the White House. (CNBC)

The president's daughter, Ivanka Trump, is working out of a West Wing office and will get access to classified information, though she is not technically serving as a government employee. (AP)

Apple's (AAPL) the next version of the iPhone will lead to a "paradigm shift," with augmented reality as its foundation, said Gene Munster, managing partner at VC firm Loop Ventures. (CNBC)

Alphabet's (GOOGL) Google is expected to go on a hiring spree to develop new A.I. tools to improve its ability to review questionable content after a clash saw major brands withdraw ads from YouTube. (CNBC)

Wal-Mart (WMT) is launching an investment arm aimed at expanding its e-commerce business. The new unit aims to strike partnerships with various retail startups and entrepreneurs. (CNBC)

Target (TGT) gave shoppers a peek at what its $7 billion investment into the business could mean for their local stores. The retailer's first fully designed shop opens in the Houston area in October. (CNBC)


New York Fed President William Dudley, in London this morning, did not address monetary policy or the economy. He focused on banking, saying incentives to drive performance remain a problem on Wall Street.

Other Fed officials speaking today include Kansas City Fed President Esther George at noon ET, Cleveland Fed President Loretta Mester at 6 p.m. ET, and Boston Fed President Eric Rosengren overseas at 9:45 p.m. ET.

There's only economic report today: the government's fourth quarter current account deficit at 8:30 a.m. ET. Economists expect a deficit of $129.0 billion reading, compared to a deficit of $112.9 billion the prior quarter.

General Mills (GIS) and Lands' End (LE) deliver earnings this morning, while two high-profile quarterly reports are out after the bell this afternoon, FedEx (FDX) and Dow component Nike (NKE).

Lennar (LEN) reported quarterly profit of 56 cents per share, a penny above estimates, though revenue was below forecasts. Lennar saw new orders up 12 percent on a volume basis and 16 percent on a dollar basis, with deliveries up 13 percent from a year ago.


Microsoft (MSFT) and Adobe Systems (ADBE) are joining to make their respective sales and marketing software products more potent competitors to Salesforce (CRM) and Oracle (ORCL) offerings.

Goldman Sachs (GS), known for advising the world's richest and most powerful, is building a robo-adviser aimed at affluent investors, according to a Reuters report, citing a job listing on the bank's website.

General Electric's (GE) GE Healthcare unit has no plans for large acquisitions, according to German newspaper Handelsblatt, but may buy data analysis or life science tool businesses to strengthen its platform.

IntercontinentalExchange's (ICE) NYSE Arca unit experienced an issue that affected closing prices of ETFs traded on the Arca platform. NYSE Arca is the largest listing exchange for exchange-traded funds.


A former executive of a tabloid newspaper in Mexico City allegedly swiped two of Tom Brady's game-worn New England Patriots Super Bowl jerseys and potentially the helmet worn by Denver Broncos linebacker Von Miller during Super Bowl 50. (USA Today)