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Morning Brief

Futures point to Wall Street rebound

Key Points


U.S. stock index futures were higher this morning, buoyed by positive trading sentiment seen overseas and as investors turned their attention to upcoming data and geopolitical events.

This follows a mixed session which saw the Nasdaq extend a losing streak to three days but did see gains for the Dow and S&P 500. Nonetheless, the major averages remain on track for a losing August and the biggest monthly declines since last October. (CNBC)

It's another light day on the economic calendar, with only the government's June and second quarter read on home prices at 9 a.m. ET and the Richmond Fed Manufacturing Index at 10 a.m. ET. (CNBC)

* What some expect from Jackson Hole, the 'meeting of the minds' of Fed policy (Trading Nation)

Cosmetics maker Coty (COTY), shoe retailer DSW (DSW), medical device maker Medtronic (MDT), and home builder Toll Brothers (TOL) are among the companies out with quarterly earnings this morning.

Lighting maker Cree (CREE), financial software provider Intuit (INTU), furniture maker La-Z-Boy (LZB), and business software maker (CRM) will issue quarterly numbers after today's closing bell.


President Trump said Monday the U.S. will ramp up engagement in Afghanistan, against his "original instinct" to pull troops out of the country. He did not detail how many more U.S. soldiers he would send or what he felt it would take for the U.S. to achieve victory in its longest war ever. (CNBC)

* Trump just cranked up the rivalry between two nuclear giants (CNBC)
* Taliban condemn Trump's decision on Afghanistan war, vow 'jihad' will go on (Reuters)
* Pence: New Afghan strategy will undo past failures (USAToday)

A city council meeting in Charlottesville, Virginia briefly dissolved into an angry protest on Monday as activists and residents demanded answers from officials regarding the response from police during a deadly rally held by white supremacists. (Reuters)

* House Speaker Paul Ryan: Trump 'messed up' reaction to violence in Charlottesville (Washington Post)

The focus of the search for 10 U.S. sailors missing after a collision between the USS John S. McCain and an oil tanker in Southeast Asian waters shifted today to the damaged destroyer's flooded compartments. The sea search will continue east of Singapore where the McCain and the tanker collided at daybreak Monday. (AP)

* Collision of USS John S. McCain is met with 'applause' in China, according to state media (CNBC)

More than 30 people were injured when a train crashed early this morning into another train that was parked at a station in suburban Philadelphia. Officials said an inbound Norristown High Speed Line train crashed into an unoccupied, parked train at the 69th Street Terminal in Upper Darby. (AP)

Italy, France, and Germany have asked the European Commission to reinforce existing regulations that allow EU states to block foreign acquisitions of European companies, two Italian dailies reported earlier today. EU leaders agreed in June to consider screening investments. (Reuters)

Two North Korean shipments to a Syrian government agency responsible for the country's chemical weapons program were intercepted in the past six months, according to a U.N. report. The report gave no details on when or where the interdictions occurred or what the shipments contained. (Reuters)

Samsung expanded its digital personal assistant Bixby to over 200 countries and territories globally today, as it looks to step up its challenge to rival products like Amazon Alexa and Apple Siri. Bixby was introduced earlier this year with Samsung's Galaxy S8 smartphone. (CNBC)


Macy's (M) named senior eBay (EBAY) executive Hal Lawton as its new president, reporting to CEO Jeff Gennette. Lawton will join Macy's on September 8. Macy's also announced the restructuring of its management ranks, cutting about 100 jobs.

Apple (AAPL) cut the time between order and delivery for its AirPod wireless headphones to two to three weeks from the prior four weeks. Earlier, the wait for AirPods had been as much as six weeks.

Ford Motor (F) signed a memorandum of understanding with China-based automaker Anhui Zotye Automobile to jointly build electric passenger vehicles in that country.

Fiat Chrysler (FCAU) shares extended a Monday rally after China's Great Wall Motor confirmed earlier reports that it was interested in Fiat Chrysler's Jeep brand. Fiat Chrysler had said on Monday that it had not been approached by Great Wall.

BHP Billiton (BHP) said it would exit its U.S. shale oil and gas business, as well as announcing a jump in full-year profits. Hedge fund Elliott Management had been urging BHP to reevaluate its oil and gas investment and take other steps to boost shareholder value.


First the solar spectacle and then traffic jams. Enough Americans watched the solar eclipse from inside or near their cars for the aftermath of the phenomenon to show up on national traffic maps. A screen grab of national traffic patterns on Google Maps shows a series of traffic jams following the path of the event across the U.S. (CNBC)