Stocks set to open higher after the Dow sank over 1,000-points and entered correction territory

BY THE NUMBERS

U.S. stock futures were higher this morning, but the projected increase amounts only to a fraction of Thursday's significant losses. The Dow is coming off its first close below 24,000 since late November. The Dow and S&P 500 are now officially in a correction. (CNBC)

* Here's what Buffett says to do when the market tanks (CNBC)
* Market is in a correction... here's what usually happens next (CNBC)
* Cramer: Market seeing 'a similar version' of what sparked the financial crisis (CNBC)

Hong Kong and Shanghai shares fell sharply today in a global sell-off. The Hang Seng Index was down around 3 percent, while the Shanghai composite was down about 4 percent. An analyst said it could be their "first leg of correction." (CNBC)

Nvidia (NVDA) shares were 10 percent higher premarket after it reported better-than-expected earnings. It also saw revenue beat forecasts, and gave strong current quarter revenue guidance thanks to increasing demand for uses like gaming and data centers. (CNBC)

The earnings calendar shrinks dramatically from the past few days, with only a handful of companies — including CBOE Holdings (CBOE) and Moody's (MCO) — out this morning. There are no earnings reports of note after today's closing bell. (CNBC)

Economic numbers are likely to be a non-factor in today's trading. Only wholesale trade for December is out today, with the 10 a.m. ET release expected to show a 0.2 percent increase in wholesale inventories following a 0.8 percent jump in November. (CNBC)

IN THE NEWS TODAY

The House passed a bill this morning to set up a major spending increase and end a brief government shutdown. The short-term funding bill, on its way to President Trump's desk, cleared the way for a boost to military and domestic spending hours after funding lapsed. (CNBC)

White House Chief of Staff John Kelly and other aides reportedly knew about Rob Porter's abuse allegations since last fall. Porter resigned as staff secretary on Wednesday after two former wives publicly accused him of abuse. (NY Times)

* Kelly is now center of the storm he was hired to tame (NY Times)
* Dozens at White House lack permanent security clearances (Washington Post)

Vice President Mike Pence avoided a potentially awkward encounter with the ceremonial leader of North Korea at the Winter Olympics opening ceremony. Earlier, Pence said South Korea's president gave backing to additional sanctions against the North. (Reuters)

* Kim Jong Un's sister begins unprecedented South Korea visit (AP)
* Appeals by 45 Russian athletes against Olympic bans rejected (AP)
* The Winter Olympics have boosted the profile of long down jackets (CNBC)

Amazon (AMZN) is planning a new shipping option that would compete with UPS and FedEx, The Wall Street Journal reported, citing sources. The service is apparently dubbed "Shipping with Amazon," and would involve the company picking up packages and shipping them.

Qualcomm (QCOM) rejected a revised $121 billion takeover bid from rival chipmaker Broadcom (AVGO), but did propose a meeting to see if differences can be resolved. Qualcomm maintains that Broadcom's offer undervalues the company. (CNBC)

Social network Facebook (FB) is testing a "downvote" button that lets users flag and hide inappropriate comments. Once users click on the down-vote button, they will have the option to report the comment as "offensive," "misleading" or "off topic." (CNBC)

STOCKS TO WATCH

Expedia (EXPE) missed estimates by 31 cents with adjusted quarterly profit of 84 cents per share, although the travel services company's revenue was only slightly below forecasts. Expedia's bottom line was hurt by an increase in marketing expenses, although the company did make upbeat comments about the current year.

Activision Blizzard (ATVI) came in a penny above estimates with adjusted quarterly profit of 94 cents per share, with revenue scoring a beat as well. The videogame maker saw bookings rise, with its "Destiny" and "Call of Duty" franchises performing well.

AIG (AIG) reported adjusted quarterly earnings of 57 cents per share, falling short of the 75 cent consensus estimate. The insurance company saw a greater than expected $762 million catastrophe loss for the quarter, with the bulk of that due to the California wildfires.

FireEye (FEYE) had a surprise adjusted profit of 1 cent per share for its latest quarter, compared to analyst forecasts for a one cent per share loss. The provider of cyber security services saw revenue come in comfortably above estimates, and it also gave strong forward guidance.

WATERCOOLER

Ready. Set. Go. The 23rd Olympic Winter Games began today with the opening ceremony in Pyeongchang, South Korea. Most of the world will be watching via their television sets, but the Olympic Stadium will host about 35,000 spectators that will watch the games in near-freezing temperatures. (NBC News)