IN THE NEWS TODAY
A budget plan crucial to President Trump's hopes for tax reform looked set for a close vote in the House today after some Republicans vowed opposition in an effort to protect a popular tax break, federal deduction for state and local income taxes. (Reuters)
* Commerce's Wilbur Ross explains how GOP could strike a deal on taxes (CNBC)
* Despite prospect of tax cuts, stocks of high-tax companies lag the market (CNBC)
President Trump will reportedly order his acting health secretary today to declare the opioid crisis in the U.S. a health emergency. The move could give states more access to federal funds to fight the crisis. (USA Today)
A federal judge rejected a request to order the Trump administration to immediately resume paying Obamacare insurers key subsidies that the government cut off in recent days. (CNBC)
* Obamacare fix would cut deficit, not reduce number with health insurance: CBO (CNBC)
* Nearly 1 in 4 Americans believe, wrongly, that Obamacare is partially repealed (CNBC)
Fed Governor Jerome Powell likely will be the next Federal Reserve chairman,
Trump actually solicited advice from Fox Business anchor Lou Dobbs during an interview last night on whom he should pick as the next Fed chair. Trump with Dobbs' assessment that Yellen "might be worth keeping" on in the role.
White House economic advisor Gary Cohn reportedly raised the prospect of hiking the federal gasoline tax, reviving the idea after President Trump raised the issue earlier this year. The gas tax is 18.4 cents per gallon and has not changed since 1993. (Politico & CNBC)
The White House plans to ask Congress for
New security screenings for all passengers on U.S.-bound flights began today. Airlines worldwide will question flyers about their trip and their luggage in the latest Trump administration decision affecting global travel. (AP)
More than half a century after President John F. Kennedy was struck down by an assassin's bullet in Dallas, Texas, the U.S. is due today to release the final files on the investigation into the killing that rattled a nation. (Reuters)
Apple's iPhone 8 posted the weakest sales of any of the company's new smartphones in recent years, according to estimates by two market research firms, raising the stakes for the higher-priced iPhone X as advance orders start tomorrow. (WSJ)
Employee dismissals at Tesla (TSLA) are continuing at its SolarCity subsidiary, according to six former and current employees, and are affecting SolarCity offices across the U.S. It was already in the midst of laying off 205 employees from SolarCity's Roseville, California, office. (CNBC)
Amazon (AMZN) launched a smart security camera that works with its voice assistant Alexa, which will allow deliveries to your home even when you're out. The service is called Amazon Key and the indoor security camera has been named the Amazon Cloud Cam. (CNBC)
Uber board member Arianna Huffington said today she is still "optimistic" that a big investment by SoftBank into the ride-hailing app will happen, and the problems faced by the company will not affect its valuation. (CNBC)
Japanese billionaire and SoftBank CEO Masayoshi Son said artificial intelligence will have an IQ of 10,000 in about 30 years. By comparison, the average human IQ is 100 and genius is 200, according to Son. (CNBC)
* A robot threw shade at Elon Musk so the billionaire hit back (CNBC)
STOCKS TO WATCH
Amgen (AMGN) reported an adjusted quarterly profit of $3.27 per share, 16 cents above estimates. Revenue was very slightly above forecasts, and the company did raise its full-year outlook as it lowers costs and improves operating margins. However, investors are concerned about weaker than expected sales for several key drugs.
Las Vegas Sands (LVS) beat estimates by 9 cents with adjusted quarterly profit of 77 cents per share, while the resort operator's revenue beat estimates as well. The quarter's results were helped by the continuing recovery in the Macau gaming market.
ADP (ADP) is in the spotlight once again today, as proxy advisory firm ISS endorses activist investor Bill Ackman's bid for three seats on the ADP board. The board vote will take place at the payroll processor's annual meeting on November 7.
Citrix Systems (CTXS) came in 18 cents above estimates with adjusted quarterly profit of $1.22 per share, though the enterprise software maker's revenue was slightly shy of forecasts. The company has been battling back against a claim by Morgan Stanley analysts that it is "secularly challenged."
ServiceNow (NOW) beat estimates by 6 cents with adjusted quarterly earnings of 38 cents per share, and the cloud computing software company's revenue was also above consensus. The company is emphasizing a 38 percent increase in subscription billings, on the strength of a num
In one of the greatest Game 2 clashes in World Series history, the Houston Astros outlasted the Los Angeles Dodgers in 11 innings at Dodger Stadium. Eight home runs were hit in the game, including five in extra innings. The series is knotted at 1-1. Game 3 is tomorrow night. (USA Today)