Top Stories
Top Stories
Morning Brief

Futures mixed after Dow ends a rollercoaster day barely with another record

Key Points


U.S. stock futures were mixed this morning after Monday's wild ride on Wall Street. The Dow was up 300 points at one stage on the weekend passage of the Senate tax bill. But the blue-chip average was only able to just eke out another record closing high. The S&P 500 and Nasdaq were lower as tech stocks took a hit. (CNBC)

* A big week for U.S. data may clash with bullish market sentiment (CNBC)

Regal Entertainment (RGC) shares were more than 6 percent higher in premarket after British movie theater operator Cineworld said it has agreed to by its American counterpart for $3.6 billion, creating the world's second-largest cinema operator. (WSJ)

Ascena Retail's (ASNA) stock was around 19 percent lower in premarket after it reported same-store sales were down 5 percent in its latest quarter. The company behind brands including Ann Taylor Lane Bryant also reported weak second-quarter guidance. The CEO blamed "fashion missteps." (CNBC)

On the economic data front, October international trade figures are out at 8:30 a.m. ET, followed by November services PMI data at 9:45 a.m. ET and nonmanufacturing ISM at 10 a.m. ET. (CNBC)


House GOP has introduced a temporary stop-gap spending bill to fund the government until Dec. 22. The bill maintains current spending levels and includes a temporary protection for the Children's Health Insurance Program. (CNBC)

* Schumer and Pelosi to meet with Trump after canceling previous meeting (CNBC)
* Republicans had sought to discredit unfavorable analysis of GOP tax plan hours before vote (NY Times)

The Senate Banking Committee is expected to approve the nomination of Jerome Powell as Fed chair today, and then mark up a bipartisan bill to exempt small and mid-size banks from portions of the Dodd-Frank Act. (Seeking Alpha)

Special Counsel Robert Mueller, who is investigating alleged Russian attempts to influence the 2016 presidential election, has asked Deutsche Bank (DB) to share data on accounts held by President Trump and his family, a source tells Reuters.

* Prosecutors say Manafort colleague has ties to Russian intelligence (Washington Post)
* Trump: 'I feel very badly for General Flynn' (CNBC)
* The president 'cannot obstruct justice,' Trump's lawyer says (CNBC)

The Supreme Court has allowed the third version of Trump's travel ban to go into effect while legal challenges continue. The decision means the administration can fully enforce new restrictions on travel from eight nations, six of them predominantly Muslim. (NY Times)

* US and foreign officials warn Trump not to call Jerusalem Israel's capital (Reuters)

U.S. outdoor clothing company Patagonia slammed Trump after he revealed plans to shrink two national monuments in Utah. It modified its homepage to initially display a black screen with the message "The President Stole Your Land." (CNBC)

President Trump formally endorsed Alabama Senate candidate Roy Moore despite nearly a half-dozen allegations against Moore of sexual misconduct with minors. Both GOP senators and the White House have tempered their criticisms of Moore in recent weeks. (CNBC)

* Democratic Rep. Conyers won't seek re-election in wake of sexual harassment claims, says a family member (NY Times)

Netflix (NFLX) drama "House of Cards" will resume production of its sixth and final season in 2018 without actor Kevin Spacey amid sexual misconduct allegations. Instead, the final episodes will focus on co-star Robin Wright. (The Guardian)

Apple (AAPL) has succeeded in preventing Chinese smartphone maker Xiaomi from registering its Mi Pad tablet computer as an EU trademark because the name was too similar to Apple's iPad. (Reuters)

Alphabet's (GOOGL) YouTube says it plans to add more people next year to review and remove violent or extremist content on the video platform amid criticism from advertisers and regulators for failing to police content. (Reuters)

Amazon's (AMZN) Australian arm took its first orders today, ending the suspense over its opening date and sending retail stocks higher. That happened amid complaints of limited product range and uncompetitive prices on the platform. (Reuters)

General Motors (GM) has launched GM Marketplace, which allows roughly 2 million owners of GM vehicles to press a button or two in order to order food or coffee they can pick up minutes later in a drive-thru lane. (CNBC)

In an effort to up its value game, the McDonald's (MCD) is bringing back Dollar Menu but with a twist. Now called the $1-$2-$3 Dollar Menu, it's set to roll out nationwide on Jan. 4. (USA Today)

Japan Airlines is betting at least $10 million to bring back supersonic commercial flight at speeds that top those of the doomed Concorde. (CNBC)


Toll Brothers (TOL) reported quarterly profits that missed expectations. Revenue rose 9 percent from a year-ago but also fell short of estimates. Shares of the home builder were off 6 percent premarket.

Mastercard (MA) plans to buy back up to $4 billion of its Class A shares, effective at the completion of its previously announced repurchase program. The company is also increasing its quarterly cash dividend by 14 percent.

Under Armour (UA) has named David Bergman as chief financial officer. Bergman has served as acting CFO since February 2017. UA also said Chief Digital Officer Michael Lee will leave the company in January 2018.

Coupa Software (COUP) reported quarterly results that beat estimates. The platform reported a loss of 5 cents on revenue of $47.3 million. Wall Street had expected a loss of 11 cents on revenue of $45.1 million.


American filmmaker and writer Quentin Tarantino may work on a new "Star Trek" film with producer J.J. Abrams, according to Deadline. Tarantino has reportedly come up with a great idea for a film. If all works out, he may even direct it.

Related Tags