Morning Brief

The Dow is on pace for its biggest monthly drop in 15 months

Key Points


U.S. stock futures were higher this morning after the Dow and S&P 500 on Wednesday posted their fifth day of losses in six sessions. The Dow is on pace for its biggest monthly drop since January 2016. (CNBC)

Two Dow components, Travelers (TRV) and Verizon (VZ), lead this morning's list of quarterly results. Dow stock Visa (V) tops earnings after the bell this afternoon. (CNBC)

Another Dow component American Express (AXP) reported late Wednesday earnings and revenue that beat expectations. (Reuters)

Oil prices were higher this morning as Saudi Arabia and Kuwait signaled that OPEC producers will likely extend an international production cut deal. U.S. crude tanked nearly 3.8 percent on Wednesday. (Reuters)

Two economic reports are out at 8:30 a.m. ET: the April Philadelphia Fed index and weekly jobless claims. The March index of leading economic indicators is out at 10 a.m. ET.

Fed Governor Jay Powell speaks at 8:35 a.m. ET.


World finance leaders gather on President Donald Trump's home turf today to try to nudge his still-evolving policies away from protectionism and show broad support for open trade and global integration. (Reuters)

Trump plans to sign today a directive asking for a speedy investigation into whether imports of foreign-made steel are hurting U.S. national security. (Reuters)

GOP leaders on Capitol Hill appear willing to extend the government shutdown deadline that's looming a week from tomorrow. The delay would give lawmakers more time to reach a compromise on a spending bill. (CNBC)

Secretary of State Rex Tillerson said the U.S. was looking at ways to pressure North Korea over its nuclear program, as Pyongyang said America "should not mess with us." (Reuters)

Exxon Mobil (XOM) has applied to the Treasury Department for a waiver from U.S. sanctions on Russia in a bid to resume its venture with state oil giant Rosneft forged in 2012 by then-CEO Rex Tillerson. (WSJ)

General Motors (GM) said Venezuelan authorities illegally seized its plant in the industrial hub of Valencia and vowed to "take all legal actions" to defend its rights. (Reuters)

United (UAL) plans to testify at an upcoming House committee hearing in the wake of a United passenger being dragged off an April 9 flight to Chicago, to make room for crew members. (Reuters)

Fox News has forced out top-rated host Bill O'Reilly after the disclosure of a series of sexual harassment allegations and an internal investigation that turned up even more. (NY Times)

Today marks marijuana culture's high holiday, 4/20, when college students gather at 4:20 p.m. in clouds of smoke on campus quads and when pot shops in legal weed states thank their customers with discounts. (AP)


Alphabet's (GOOGL) Google unit is expected to introduce an ad-blocking feature in its popular Chrome web browser, according to the Wall Street Journal.

Qualcomm (QCOM) reported earnings and revenue that exceed expectations. The chipmaker's stock was rising in premarket trading despite conservative current guidance and concerns over a legal dispute with Apple (AAPL).

EBay (EBAY) slightly beat estimates on earnings and matched on earnings. The e-commerce firm warned it faces tough competition from Amazon (AMZN) and other online retailers.

CSX (CSX) beat estimates on quarterly earnings and revenue. The railroad operator was helped by the ongoing recovery in shipments of coal.

Alcoa (AA) is closing its New York headquarters as well as seven other offices, in an effort to trim costs by $5 million dollars per year.

U.S. Bancorp (USB) plans to launch a new premium credit card in May, becoming the latest entry in a rapidly expanding market.


Apple is pledging to end its reliance on mining and one day make its products from only renewable resources or recycled material. Separately, Apple is making its own artificial sweat in order to test products. (CNBC)