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Morning Brief

Wall Street looks to resume its record run after Friday's hiccup

Key Points


U.S. stock futures were slightly higher this morning. Today's action could be somewhat muted by the shutdown of the bond market and banks for the Columbus Day holiday. The Dow and S&P 500 posted four consecutive weekly gains despite Friday's decline. The Nasdaq was riding a nine-day win streak, coming off another record closing high. (CNBC)

No economic numbers are on today's calendar after Friday's hurricane-weakened September jobs report. Later in the week investors get producer and consumer prices, retail sales, jobless claims, and consumer sentiment. The minutes of the most recent meeting of Fed policymakers are out on Wednesday afternoon. (CNBC)

*Cramer's game plan: Watch out for imperfect earnings reports (CNBC)
*It looks like we're getting a December rate hike and this trade has been a lock (CNBC)


The Trump administration sent Congress a list of reforms it would require to be included in any legislation that would allow immigrants brought into the U.S. illegally as children, or Dreamers, to remain. The proposals include funding for a southern border wall. (NBC News)

In a stinging rebuke of Trump, Republican Sen. Bob Corker charged in an interview that the president was treating his job like a "reality show," and that his rashness could set the country "on the path to World War III." (NY Times)

Google for the first time has uncovered evidence that Russian operatives exploited the company's platforms in an attempt to interfere in the 2016 election, according to people familiar with the company's investigation. (Washington Post)

The Trump administration is expanding exemptions to an Affordable Care Act rule requiring employers to include birth control coverage in health plans. Some religious employers such as churches already do not have to cover contraception. (CNBC)

*Trump personally told health chief to deny Iowa's urgent Obamacare waiver: Report

The U.S. said it's was suspending non-immigrant visa services at its diplomatic facilities in Turkey following the arrest of a consulate employee, prompting Turkey to halt visa services in the U.S. (AP)

The promotion of North Korean leader Kim Jong Un's 28-year-old sister to the country's top decision-making body is a sign he is strengthening his position by drawing his most important people closer to the center of power, experts and officials say. (Reuters)

Vice President Mike Pence's decision to walk out of a San Francisco 49ers-Indianapolis Colts game on Sunday, when some players knelt during the National Anthem, was planned ahead of time, a senior Pence official told NBC News.

*49ers player on Pence's walkout: 'This is what systemic oppression looks like' (USA Today)

Dallas Cowboys owner Jerry Jones said players who do not stand during the national anthem or are "disrespectful to the flag" will not play. At the Cowboys' Sept. 25 game, Jones joined the players and staff in taking a knee and locking arms prior to the anthem. (ESPN)

Harvey Weinstein has been fired by The Weinstein Company after a host of sexual harassment claims were leveled against him. The New York Times reported last week that Weinstein has over the years reached at least eight legal settlements with women over alleged harassment. (CNBC)

General Electric (GE) has elected Trian's Ed Garden to its board of directors. Trian has been a shareholder since 2015. Garden will replace Robert Lane, who is retiring for health reasons from the board after 12 years of service. (CNBC)

*General Electric announces slew of executive changes, including new CFO (CNBC)

U.S. economist Richard Thaler won the 2017 Nobel Economics Prize for his contributions in the field of behavioral economics, the Royal Swedish Academy of Sciences announced this morning. (Reuters)

Hurricane Nate slogged its way across the East Coast this morning, dumping heavy rains and bringing gusty winds to inland states as a tropical depression, a day after Nate brought a burst of flooding and power outages to the Gulf Coast. (AP)

Alphabet (GOOGL) received an FCC experimental license to create a network of balloons that would help restore wireless phone service in Puerto Rico after Hurricane Maria severely curtailed service on the island. (TechCrunch)

Making a return at Wal-Mart (WMT) used to take roughly five minutes. But the retailer is on a mission to slash that to 30 seconds. It will take its first step in early November when it rolls out Mobile Express Returns, for items sold and shipped by (CNBC)

Drugstore chain stocks Walgreens (WBA), Rite Aid (RAD), and CVS Health (CVS) all closed lower on Friday after CNBC reported that Amazon is in the final stages of considering an entrance into selling drug prescriptions.

Soap company Dove has apologized for a racially insensitive Facebook (FB) ad it said, "missed the mark in representing women of color thoughtfully." The ad showed a black woman wearing a brown shirt removing her top to reveal a white woman in a lighter top. (NBC News)


Tesla (TSLA) is delaying the unveiling of its new semi-truck until Nov. 16. The truck was originally scheduled to be unveiled on Oct. 26, but CEO Elon Musk said the electric automaker is diverting resources to fix bottlenecks in Model 3 production as well as increase battery production for Puerto Rico.

Assured Guaranty (AGO) withdrew its lawsuit that had challenged the legality of Puerto Rico's fiscal turnaround plan. The bond insurer cited the impact of Hurricane Maria on Puerto Rico. Assured Guaranty had been joined by fellow bond insurer MBIA (MBI) in the suit.

OneMain Financial Holdings (OMF) is in talks to sell itself, according to the Wall Street Journal. The subprime lender is said to be in advanced talks with a number of interested parties, although there is no guarantee that a deal will result.

Honeywell (HON) will spin off non-core assets and create at least two new publicly traded companies, according to a Reuters report.

Kohl's (KSS) was upgraded to "outperform" from "market perform" at Telsey Advisory Group, with the price target increased to $50 from $43.


"Blade Runner 2049" topped the domestic box office this weekend. But its debut haul of $31.5 million was considered a poor start for a movie that cost at least $150 million to make. (AP)