Morning Brief

Stocks are set to open higher, aiming for a fourth positive week on Wall Street

Key Points


Stock futures were higher this morning, with the Dow, S&P 500 and Nasdaq on track for a fourth straight positive week. Neither the Dow nor the S&P 500 has had back-to-back losses this year, marking the longest such stretch in history at the beginning of a year. (CNBC)

* Cramer says owning too many stocks and too little cash can set you up for failure (CNBC)

A handful of earnings reports conclude a busy week of quarterly numbers, with AbbVie (ABBV), Colgate-Palmolive (CL), Honeywell (HON), Lear Corp. (LEA) and Rockwell Collins (COL) among the companies on today's calendar. There are no reports after today's closing bell. (CNBC)

The week ends with two key economic reports, both at 8:30 a.m. ET, with the release of 2017's first look at fourth-quarter GDP and December durable goods orders, which is expected to post an increase. (CNBC)

* When Friday's GDP is reported, economy's run could be strongest in 13 years (CNBC)


President Trump will deliver his "America First" message when he speaks at the World Economic Forum (WEF) today. He will reportedly say his administration will not tolerate intellectual property theft and trade abuses. (CNBC & Reuters)

Ahead of the keynote speech, Trump told CNBC that the dollar will strengthen over time under his leadership and that recent remarks made by Treasury Secretary Steven Mnuchin about the greenback were misinterpreted.

President Trump told CNBC that he would reconsider the massive Trans-Pacific Partnership trade deal if the United States could strike a "substantially better" agreement. But it's almost certainly too late for the U.S. to negotiate a new deal.

Trump told CNBC he is "willing to shift more" on his border security and DACA demands if that's what is required to reach an immigration deal. This includes expanding protections to about 1.8 million undocumented young people who were brought to the U.S. as children.

* Read the full transcript of President Trump's exclusive interview with CNBC
* Read President Trump's full remarks on trade deals to CNBC
* Read President Trump's full comments on the dollar to CNBC

In a blistering critique of Trump's leadership, billionaire investor George Soros said at Davos that the president has the U.S. on course for nuclear war with North Korea. The progressive activist said he sees the president's place in the world as "temporary." (CNBC)


President Trump ordered the firing of special counsel Robert Mueller last June, but backed off following a threat from a White House counsel to resign, according to multiple media outlets. When asked about the reports, Trump called it "fake news."

* Trump apologizes for retweeting anti-Muslim videos from far-right group (Washington Post)

Trump is reportedly planning to sign an executive order that would reverse an Obama-era directive to close Guantanamo Bay. The president is expected to announce his plans to sign the order during his State of the Union. (Politico)

In likely violation of U.N. sanctions, North Korea reportedly shipped coal to Russia last year that was then delivered to South Korea and Japan. The sanctions were intended to cut off an important source of money Pyongyang needs to fund its missile program. (Reuters)

An FDA advisory committee said evidence doesn't support a tobacco company's claim that heat-not-burn tobacco product, iQOS, cuts the risk of tobacco-related diseases. Philip Morris International (PM) was seeking approval to market its iQOS as less risky. (CNBC)

Tesla (TSLA) employees said to expect more Model 3 delays, citing inexperienced workers and manual assembly of batteries. The employees said the company was making batteries for its Model 3 vehicles partly by hand as recently as mid-December. (CNBC)

Walmart (WMT) will begin selling e-books and audiobooks on its website in partnership with Tokyo-based Rakuten. The move builds on Walmart's efforts to grow both online and outside of the U.S., as competition with Amazon (AMZN) intensifies. (CNBC)


Starbucks (SBUX) reported adjusted quarterly profit of 58 cents per share, one cent above estimates, but the coffee chain's revenue missed forecasts. The company also said sales growth at its shops would be at the low end of its prior forecast for 2018.

Intel (INTC) came in 22 cents above estimates with adjusted quarterly earnings of $1.08 per share, while the chipmaker's revenue also beat forecasts. Intel gave a bullish forecast as data center chip sales continue to accelerate, and announced a 10 percent dividend increase.

E*Trade Financial (ETFC) beat estimates by three cents with adjusted quarterly profit of 64 cents per share, with the online brokerage's revenue beating Street projections as well. Additionally, the company also announced it was buying 1 million retail brokerage accounts with about $18 billion in assets from Capital One Financial (COF) for $170 million.

Western Digital (WDC) reported adjusted quarterly profit of $3.95 per share, 16 cents above estimates, with the disk drive maker's revenue coming in slightly above forecasts. Its results were helped by stronger pricing and demand for memory chips, especially those used in smartphones.

Nike (NKE) now has Bill Ackman's Pershing Square as a stakeholder, according to the Wall Street Journal quoting a person familiar with the matter. It isn't known how big the stake is, although it is said to be passive. (JD) is preparing to enter the U.S. market in a move to challenge online retail giants Alibaba (BABA) and (AMZN), according to a Bloomberg report.


Singer Katy Perry is hopping on the crypto bandwagon. She showed off her cryptocurrency-themed manicure on Instagram. The post also included an assortment of crypto-related accounts like ethereum_updates and stellarlumens. (Slate)