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Wall Street eyes whether August slump continues

Key Points


U.S. stock index futures seesawed and could extend a two-session losing streak for the major averages, deepening losses for August. The Dow and S&P 500 have posted weekly losses for two straight weeks, while the Nasdaq has a four-week losing streak. (CNBC)

Investors won't be taking much direction from economic data or earnings during today's session. There are no economic numbers scheduled to be released today, no earnings reports of note are on today's schedule. (CNBC)

** What Wall Street is watching this week: Trump, the Fed and the eclipse (CNBC)

Amazon shares are doing something unique and could be flashing trouble for the consumer. Shares of e-retailer are falling in tandem with the S&P Retail ETF, the XRT, and one equity strategist says this raises a flag about the state of the U.S. consumer and consumer spending. (Trading Nation)


President Trump plans to unveil his new strategy for Afghanistan in an evening address to the nation today. He is expected to approve sending more troops to Afghanistan, deepening U.S. involvement in the region and indicating a more traditional approach to foreign policy than he promised on the campaign trail. (Politico)

** U.S. may be dialing back North Korea tensions during military drills — by cutting troop numbers (CNBC)

The U.S., Mexico, and Canada completed the opening round of talks to renegotiate the North American Free Trade Agreement, but tensions over certain areas, including the automotive industry, signaled tough bargaining ahead. (WSJ)

Search and rescue efforts are underway and 10 sailors were missing this morning after the USS John S. McCain collided with a merchant ship, the Navy reported. The ship, a guided-missile destroyer, was involved in the collision while on its way to Singapore for a routine port visit, the notice said. (CNBC)

Americans with telescopes, cameras, and protective glasses will stake out viewing spots along a narrow corridor from Oregon to South Carolina to watch the solar eclipse midday today in what is promised to be the most observed and photographed eclipse in history. (AP)

Spanish authorities confirmed early this morning the identity of the driver of the deadly van attack in Barcelona, which killed 13 pedestrians and injured over 120 more. Authorities said that he is the last member of the 12-man Islamic extremist cell still at large. (AP)

Uber hiked its Hong Kong fees by up to 80 percent after a review of its business there, the embattled ridesharing company said, adding it was not having issues financing its operations in the Asian financial hub. (Reuters)

Former General Electric chairman Jeff Immelt has become the front-runner candidate to become CEO of car-hailing company Uber, Recode reports, citing numerous sources with knowledge of the situation. (Recode)


Sempra Energy (SRE) announced a deal to buy power transmission company Oncor for $9.45 billion in cash. Under terms of the deal, Sempra will own about 60 percent or Oncor's holding company, Energy Future Holdings. Sempra beat out Berkshire Hathaway (BRKB), which had a $9 billion bid in place.

Fiat Chrysler (FCAU) is drawing buyout interest from China's Great Wall Motor, according to an unnamed company official quoted by Reuters. Automotive News had reported last week that an unidentified "well-known Chinese automaker" had made an offer earlier this month.

Goldman Sachs (GS) received approval for a license to trade equities in Saudi Arabia. The Saudi government had eased restrictions last year on foreign ownership in its stock market.

Novartis (NVS) has begun clinical trials of an experimental drug that could be the first new malaria drug in many years.

Starbucks (SBUX) got a positive mention in this weekend's Barron's, which noted that the coffee chain's mobile order-and-pay feature has become extremely popular with customers and that the stock is at one of its cheapest valuations in years.


Many (organized) people planned their solar eclipse day a year ago, or longer. But if you're not one of them, don't worry — Here's what you need. (USA Today).