Morning Brief

Wall Street looks to build on one of its best yearly starts in over a decade

Key Points


Wall Street was higher this morning. On Monday, the Dow hit an all-time high during the trading session but closed modestly lower, breaking a four-day winning streak. The S&P 500 and Nasdaq were able to extend their run of gains, finishing at record highs. (CNBC)

Target (TGT) shares were surging in premarket trading after posting better than expected same-store sales during the holiday season as well as raising its fourth-quarter and full-year earnings outlook. (CNBC)

GoPro (GPRO) shares were losing another 3 percent in premarket. The action camera-maker tanked nearly 13 percent on Monday after sources said it hired J.P. Morgan to explore a possible sale. CEO Nick Woodman told CNBC that GoPro is considering its options.

* GoPro issues weak guidance and plans to cut workforce by 20% (CNBC)

Cryptocurrencies bitcoin and ripple were under pressure again this morning after Monday's slide. But those single digit declines were just a drop in the bucket, considering in 2017 ripple soared 35,000 percent and bitcoin rose 1,500 percent. (CNBC)

* Ethereum's value could triple in 2018, says co-creator (CNBC)
* Jamie Dimon regrets calling Bitcoin a 'fraud,' but remains uninterested (Fox Business)

Small business confidence remained in the stratosphere for all of 2017, making last year an all-time record setter for the NFIB index. Also on the data front, the government's monthly Job Openings and Labor Turnover Survey, JOLTS, is out at 10 a.m. ET.

* American credit card debt hits new record (USA Today)


North and South Korea kicked off their first formal talks in more than two years today, brought together over how North Korean athletes can attend next month's Winter Olympics in South Korea despite simmering fears of conflict. (Reuters)

President Donald Trump reportedly could be interviewed within weeks as part of Special Counsel Robert Mueller's investigation of Russian interference in the 2016 U.S. presidential election. (Washington Post)

* I'm confident in everything in my book, says 'Fire and Fury' author Michael Wolff (CNBC)

A bipartisan group of senators led by Arizona Republican Jeff Flake is expected to meet with the president this morning to talk about the future of so-called dreamers, immigrants brought to the U.S. illegally as children. (USA Today)

* U.S. orders out nearly 200,000 Salvadorans, in big turnaround (NY Times)
* In about two weeks, some may need a passport for domestic air travel (CNBC)
* Despite Trump threats, vehicle imports from Mexico hit an all-time high (CNBC)

A highly classified U.S. government satellite appears to have been totally lost after being taken into space by a recent launch from Elon Musk's SpaceX, according to a report. (Dow Jones)

In the wake of the Meltdown and Spectre vulnerabilities, Intel (INTC) CEO Brian Krzanich said the computer chip maker expects to issue updates to all of its processors released in the last five years before the end of January. (CNBC)

* Microsoft halts AMD patches after reports of unbootable PCs (The Verge)
* Users should update their iPhones as soon as possible to fix chip security hole (CNBC)

Apple (AAPL) is defending its record of providing parental controls and other protections for children who use its iPhones and other devices after being called out by a pair of prominent investors. (WSJ)

The net worth of Jeff Bezos reached $105.1 billion Monday on the Bloomberg Billionaires Index as Amazon shares added to their 12-month surge. With Monday's Amazon (AMZN) gains, Bezos became richer than Microsoft's Bill Gates has ever been.

Starting today, Starbucks (SBUX) will offer blonde espresso at all of its U.S. locations, marking the first time the coffee giant has given consumers a chance to pick the espresso in their cup. (CNBC)


Encouraged by holiday shopping data, Piper Jaffray hiked its price target on Amazon stock to $1,400 per share from $1,200, representing a 12.3 percent upside from Monday's close.

Under Armour (UAA) was downgraded to negative from neutral by Susquehanna, which reversed its stance in just two months. Susquehanna now sees greater risks for UA brands versus Nike (NKE).

Express (EXPR) is lowering its fourth-quarter guidance. The retailer said the key weeks leading up to Christmas were "disappointing".

Urban Outfitters (URBN) said same-store sales fell 1 percent during the holidays, even as online sales grew in the double-digits. The retailer said it tighten inventory controls heading into the spring.


Alabama beats Georgia in epic college football national championship comeback. Before last night's game, President Trump was on the field for the National Anthem. (ESPN & Sports Illustrated)