Morning Brief

Wall Street remains divided as the Nasdaq outperforms the Dow and S&P 500

Key Points


U.S. stock futures were mixed this morning ahead of after-the-bell earnings from Dow component Apple (AAPL), whose record Monday helped propel the Nasdaq to another all-time high, but failed to lift the Dow. (CNBC)

With Amazon (AMZN) and Alphabet (GOOGL) closing at record highs above $900, investors are wondering which stock may crack the $1000 per share level first. One analyst places his bet. (CNBC Trading Nation)

Dow stocks Merck (MRK) and Pfizer (PFE) issued quarterly results this morning. Merck exceeded estimates on earnings and revenue. Pfizer beat on profit but missed on sales. Meanwhile, U.S. automakers release their April sales results today. (CNBC)

Angie's List (ANGI) was surging about 44 percent in the premarket after saying it'll be purchased by Media mogul Barry Diller's IAC (IAC) in a $500 million deal. (Reuters)

Bitcoin surged to an all-time high above $1,400 today, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan. (CNBC)

The Fed kicks off its two-day May policy meeting this morning. Most economists expect no change in interest rates this time around. But the market puts the chances of a June move at more than 67 percent. (CME)


President Donald Trump plans to speak with Russian leader Vladimir Putin during an afternoon telephone call, according to the White House. The House Intelligence Committee holds a hearing today on Russian election meddling. (The Hill)

North Korea is warning that American bomber flights in a joint drill with South Korea's air force could push the Korean Peninsula to the brink of nuclear war. (Reuters)

The White House is pursuing a twisting path in Congress, yielding to Democratic demands on spending to avoid a government shutdown, while pushing a GOP health-care bill with an uncertain future. (WSJ)

Jared Kushner, the president's son-in-law and senior advisor, did not identify in government financial disclosures that he's currently a part-owner of a real estate finance startup, according to securities filings. (WSJ)

The Trump administration, looking to make its first major imprint on U.S. banking regulators, is preparing to replace Comptroller of the Currency Thomas Curry as chief overseer of federally chartered banks. (WSJ)

Trump, for the first time as president, said aloud he's considering breaking up the nation's biggest banks. Of course, that was a major theme on the campaign trail, but this time seemed different. (NY Times)

Goldman Sachs (GS), seeking growth beyond its elite Wall Street turf, is moving to finance corporate takeovers, lend against mansions and make personal loans. (WSJ)

Dealing with pressure to lower costs to clients, Morgan Stanley (MS) is cutting commissions on trades involving stocks, ETFs and annuities, capping them at 2.5 percent of the trade's value. (Reuters)

United (UAL) CEO Oscar Munoz faces tough questions at a hearing before a House transportation committee this morning, following the fallout from the forcible removal of a passenger from an overbooked flight. (USA Today)

A tentative contract deal was reached between Hollywood screenwriters and producers early this morning, avoiding a strike that could have crippled TV and film production and hurt the wider California economy. (AP)

Theranos settled a lawsuit alleging the once-daring startup and its founder, Elizabeth Holmes, defrauded a San Francisco hedge fund into making a $96.1 million investment through "a series of lies." (WSJ)

Infosys is joining a growing list of international firms that are pledging their support for American jobs. The Indian outsourcing firm announced today it's creating 10,000 jobs in America over the next two years. (CNBC)

Twitter (TWTR) struck a deal with the WNBA to stream 20 games per year over the next few seasons. Twitter also announced other new and expanded relationships in sports, entertainment, and news. (CNBC)


Apple CEO Tim Cook promised last year the tech giant would return to growth, but some analysts expect flat or even declining sales in iPhones when the company reports earnings after the bell this afternoon.

Microsoft is holding a press conference this morning in New York City. And while the company hasn't made anything official, it's hinted that new hardware and software will be revealed.

Advanced Micro Devices (AMD) matched estimates with a quarterly loss of 4 cents per share. Revenue was in-line as well. While delivering an upbeat outlook, there's concern among investors over profit margin forecasts.

Texas Roadhouse (TXRH) beat estimates by 3 cents with adjusted quarterly profit of 61 cents per share. The restaurant chain's revenue also beat as did same-restaurant sales at company-owned and franchised locations.

Tenet Healthcare (THC) lost an adjusted 27 cents per share, smaller than the 51 cents Wall Street had been expecting. Revenue essentially matched. The hospital operator issued rosier guidance.

BP (BP) reported first quarter profit that nearly tripled from a year earlier and beat analyst forecasts, thanks to higher oil prices and an increase in output. Meanwhile, ConocoPhillips (COP) reported a small loss instead of an expected profit. But revenue beat estimates.


McDonald's (MCD) wants to get the word out that sandwiches in its new Signature Crafted Recipes line-up are so packed with toppings that you'll need a special Frork, a fork with fries as prongs. (CNBC)