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October continues to buck bad reputation on Wall Street

BY THE NUMBERS

Though futures were modestly lower this morning, the autumn months continue to defy their historical trends as the worst months of the year. The Dow, S&P 500, and Nasdaq were all coming off record closing highs. The Dow joined the Nasdaq in exceeding its September gains for the current month. (CNBC)

JPMorgan Chase (JPM) reported third quarter earnings well above Wall Street estimates this morning, but the Dow component's shares fell as traders focused on a big drop in trading revenue. Citigroup (C) also reports earnings this morning. (CNBC)

It's a busy day for Fed speeches, with Atlanta Fed President Raphael Bostic, Fed Gov. Jay Powell, and Fed Gov. Lael Brainard all making public appearances today. Bostic is an alternate voting member on the central bank's policymaking panel for 2017. Additionally, Boston Fed President Eric Rosengren joins CNBC on "Closing Bell" at 4 p.m. ET for an interview. (CNBC)

*Powell odds-on favorite for Fed chair with reported backing from Mnuchin (Reuters)

Two key economic reports are out at 8:30 a.m. ET, with the Labor Department issuing weekly initial jobless claims as well as the September Producer Price Index. (CNBC)

Bitcoin hit a new record high today with rising investor interest causing a rally for the price of the cryptocurrency. The bitcoin price hit an all-time high of $5,167.90 in early trade, according to data from Coindesk. This surpassed the previous high of $5,013.91 hit on Sept. 2. (CNBC)

J.Jill (JILL) gave current quarter earnings guidance at 6 to 10 cents per share, well below the 19 cent consensus estimate for the women's clothing retailer. It also sees third quarter comparable sales falling 3 to 5 percent, compared with earlier expectations for an increase. The stock was off nearly 40 percent in the premarket. (CNBC)

IN THE NEWS TODAY

President Trump is planning to sign an executive order today as a new step toward weakening Obamacare, according to reports. And, as part of that move, Trump will instruct agencies to allow more sales of cheaper, and less comprehensive, health plans. (NY Times & WSJ)

Trump advisers briefed lawmakers ahead of a decision by the president on the fate of the Iran nuclear deal. White House officials said the pending decision wasn't shared, but several officials said they left the briefings convinced that Trump plans to decertify the deal. (NBC News)

*Trump may not scrap the Iran deal entirely (CNBC)

Speaking in Pennsylvania to a crowd that included truckers, Trump made lofty pledges about the benefits of the work-in-progress Republican tax plan and threw in a promise to rid roads of potholes, to boot. (CNBC)

*Trump claimed stock market gains offset national debt. They don't (CNBC)
*Trump walks back pledge that tax reform won't make him richer (CNBC)

Kirstjen Nielsen was chosen by Trump to lead the Department of Homeland Security. Nielsen is the principal deputy to White House chief of staff John Kelly. She was Kelly's chief of staff when he was DHS secretary, and moved to the White House with Kelly in July. (CNBC)

Firefighters facing a resurgence of high winds overnight struggled to halt wildfires that have killed at least 23 people, destroyed 3,500 structures and left hundreds missing in chaotic evacuations across northern California's wine country. (Reuters)

*Congress tees up another $36 billion in hurricane and wildfire aid (USA Today)

Alphabet's Waymo sought at least $1 billion in damages and a public apology from Uber as conditions for settling its high-profile trade secret lawsuit against the ride-services company, sources familiar with the proposal told Reuters.

Facebook CEO Mark Zuckerberg announced the Oculus Go, a standalone VR headset that will cost $199 and launches early next year. Facebook's head of VR said the headset features the next generation of lenses from the ones in the Oculus Rift. (CNBC)

Citing his age, Warren Buffett, 87, told fund manager Mark Yusko he will not do another bet that a simple S&P 500 index fund will beat a basket of hedge funds. Buffett is on track to beat the original 10 year wager this year by a blowout. (CNBC)

STOCKS TO WATCH

Billionaire investor Carl Icahn increased his stake in nutritional products company Herbalife (HLF) to 26.22 percent from the prior 24.57 percent, according to an SEC filing.

Blackhawk Network (HAWK) reported adjusted quarterly profit of 18 cents per share, 7 cents above estimates. But the provider of financial technology also saw revenue miss forecasts, and it also gave weaker than expected full-year earnings and revenue guidance.

Toyota (TM) wants to cut the number of models it offers for sale in Japan in half by 2025, according to a source quoted by Reuters. The move is in response to a two-decade decline in overall auto sales in Japan.

AT&T (T) said its third quarter results were negatively impacted by the recent hurricanes in the U.S. as well as the earthquakes in Mexico, putting the total impact at two cents per share. AT&T also said it lost about 90,000 video subscribers during the quarter, owing to heavy competition.

Merck (MRK) scrapped an experimental cholesterol drug after it did not live up to expectations in studies.

WATERCOOLER

SpaceX successfully landed another reused rocket as Elon Musk's firm pushes forward to make space flight cheaper and more frequent. SpaceX's Falcon 9 rocket launched the EchoStar 105/SES-11 satellite, before returning back to Earth and landing on the droneship station in the Atlantic. (CNBC)

An asteroid the size of a house zoomed past Earth early this morning at a distance of some 26,000 miles. NASA said. To give some context of how close that is, the moon is about 239,000 miles away from Earth. (USA Today)