Morning Brief

Trump and GOP leaders face big test as Wall Street waits

Key Points

IN THE NEWS TODAY

U.S. stock futures were modestly higher ahead of today's razor-thin House vote on the GOP's Obamacare replacement bill. That uncertainty pushed the Dow down Wednesday for the fifth straight session. (CNBC)

President Donald Trump is expected to meet this morning with the House Freedom Caucus as GOP leaders offered a late tweak to their health-care bill to try to get the conservative group on board. (CNBC)

While last-minute negotiations continue, the CBO is expected to release an updated analysis of the evolving health-care measure, but would not include the latest changes being offered. (CNBC)

British authorities have made seven arrests as part of an investigation into Wednesday's terrorist attack outside Parliament, which left four people dead, including the assailant, and 40 wounded. (CNBC)

As Londoners returned to work this morning and Parliament resumed normal business with a debate on trade policy, investigators were holding to their view the attacker acted alone. (NY Times)

President Donald Trump is set to meet this afternoon with truck drivers and leaders from trucking companies on health care and its impacts on their industry and livelihood. (PR Newswire)

Jay Clayton, the Wall Street attorney tapped by Trump to lead the Securities and Exchange Commission, begins his confirmation hearing today before the Senate Banking Committee. (Reuters)

Rep. Adam Schiff, the top Democrat on the House Intelligence Committee claimed he's seen "more than circumstantial evidence" that associates of Trump colluded with Russia. (NBC News)

Meanwhile, House Intelligence Chairman Devin Nunes said U.S. intelligence officials "incidentally collected" information related to Trump transition officials during unrelated foreign surveillance activities. (CNBC)

In North Korea's first official comments since Secretary of State Rex Tillerson's trip to Asia, the rogue nation slammed President Trump for adopting similar policies to his predecessor, Barack Obama. (AP)

Federal prosecutors are investigating North Korea's possible role in the theft of $81 million from the central bank of Bangladesh in what security officials fear could be a new front in cyber warfare. (NY Times)

The Twitter accounts of "Good Morning America," ABC News, and GMA Pop News were hacked early today. A series of profanity-laden posts appeared on the accounts. (CNBC)

AT&T (T) and Verizon (VZ) joined a growing number of companies pulling much of their advertising from Alphabet's (GOOGL) over placements on objectionable content. (WSJ)

Apple (AAPL) has purchased mobile app Workflow for an undisclosed sum. Often times these type of deals are just about talent acquisition. But Apple is keeping Workflow in the App Store and making it free. (TechCrunch)

Starting on Monday, Wells Fargo (WFC) depositors can withdraw money using a smartphone at any branded ATM, the first U.S. bank to roll out cardless machines across its entire network. (Reuters)

BY THE NUMBERS

The Labor Department issues jobless claims at 8:30 a.m. ET, with forecasts for 240,000 new filings for last week. The Commerce Department releases February new home sales at 10 a.m. ET, with estimates for an increase of 1.4 percent.

Fed Chair Janet Yellen speaks at Washington conference at 8:45 a.m. ET. Minneapolis Fed President Neel Kashkari speaks at the same event at 1 p.m. ET. Dallas Fed President Rob Kaplan speaks in Chicago at 7 p.m. ET.

MSCI (MSCI) seeks input on whether to add China shares to its Emerging Markets index. MSCI has declined to do so for several years because of concerns over various regulations governing the Chinese market.

STOCKS TO WATCH

PVH Corporation (PVH) reported adjusted quarterly profit of $1.23 per share, 4 cents above estimates, with revenue also slightly above. The apparel maker, with Calvin Klein and Tommy Hilfiger among its brands, also issued rosier full-year guidance.

Five Below (FIVE) matched estimates with quarterly profit of 90 cents per share, but missed on revenue. The discount retailer saw same-store sales beat estimates, and forecast profit and revenue growth by 20 percent annually through 2020.

Sears (SHLD) suppliers are reducing shipments and asking for better payment terms following the troubled retailer's statements in its annual report expressing doubts about its ability to stay afloat.

Hartford Financial (HIG) settled a $15 billion dispute with mutual fund provider American Funds. Hartford had wanted to replace dozens of funds available to variable-annuity customers with its own funds.

BlackRock (BLK), the world's largest asset manager, now owns nearly 5.2 percent of Japanese game maker Nintendo, according to a regulatory filing. Nintendo was 2 percent lower overnight.

WATERCOOLER

Just 16 teams remain standing after the first and second round of the men's NCAA basketball tournament. March Madness action starts up again tonight, with a Final Four chance just two victories away. (USA Today)