Morning Brief

What correction? Stocks set to open higher after 5 straight days of gains

Key Points


U.S. stock futures were higher this morning, as Wall Street continued its efforts to wipe out sharp early February loses. The Dow and S&P 500 have now recovered about two-thirds of the losses from the recent sell-off, with the Nasdaq recovering about 80 percent. All three stock measures are on five-session winning streaks. (CNBC)

* Two weeks after markets freaked out, the worst appears to be over for now (CNBC)

Coca-Cola (KO) beat estimates with quarterly earnings and revenue. The Dow stock was higher in premarket trading. On Thursday, Coke announced a dividend increase of 5.4 percent. There are no earnings scheduled after today's closing bell. (CNBC)

Investors get another handful of economic reports this morning. The government is out with January housing starts as well as import and export prices at 8:30 a.m. ET. The University of Michigan's preliminary February consumer sentiment index is released at 10 a.m. ET. (CNBC)

Bitcoin was trading below $10,000 this morning, according to CoinDesk, after climbing above that key price level on Thursday. The popular cryptocurrency had lost two-thirds of its value from its record high above $19,000 in December to a low below $6,000 last week. (CNBC)

* Coinbase blames Visa for unauthorized charges to users (CNBC)
* Ellen DeGeneres explains bitcoin: Make a million or go broke (CNBC)


Florida Gov. Rick Scott, a GOP leader who has earned glowing reviews from the NRA, expressed openness to imposing additional restrictions on guns in his state after the school shooting in Parkland that killed 17 people and wounded at least 14 others. (Politico)

* These are the lives lost in the Florida high school shooting (AP)
* Here's a map of all shootings on school grounds since 2013 (CNBC)
* Australia hasn't had a fatal mass shooting since '96. Here's what it did (USA Today)

The Senate blocked multiple immigration proposals, including one backed by President Donald Trump, leaving a debate on how best to protect young immigrants from deportation no closer to a resolution. It is unclear how the Senate will proceed but the House could pass its own bill. (CNBC)

* Trump administration eviscerates bipartisan immigration plan (CNBC)
* Corporate America gets behind immigration bill that Trump threatened to veto (CNBC)

Donald Trump engaged in elaborate efforts to cover his tracks while engaging in multiple extramarital affairs, according to Ronan Farrow's latest report in The New Yorker. The White House called the report "fake news." Here's Variety's analysis.

Ex-White House advisor Steve Bannon met with special counsel Robert Mueller's investigators for two days for a total of about 20 hours this week, Reuters reported, citing sources. He apparently answered a range of questions, including about Trump and former FBI Director James Comey.

Republican Sen. Jeff Flake, in an interview with CNBC, said President Trump should not be impeached. But the retiring junior senator from Arizona said Trump's behavior is bad for national security.

* Flake thinks McCain, battling brain cancer, will return Senate
* Flake criticizes White House and John Kelly on Porter scandal
* Flake believes Trump's immigration policy would hurt economy

A committee responsible for organizing Trump's inaugural events paid a friend of first lady Melania Trump, Stephanie Winston Wolkoff, $26 million, a tax filing showed. Trump's committee reported having raised $106 million, or twice what the committee for Obama's 2009 inauguration raised. (CNBC)

Pharmaceutical giant Roche Group is buying Flatiron Health, an Alphabet-backed cancer-focused start-up founded by former Google employees Nat Turner and Zach Weinberg. The company will pay $1.9 billion, adding to its existing stake, for a total value of $2.1 billion. (CNBC)

* Walmart in talks to buy a major stake in Flipkart e-commerce firm (Reuters)

U.S. regulators killed the sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors. The SEC said a lack of information on the would-be buyers threatened the ability to properly monitor the exchange after the deal. (Reuters)

Facebook's (FB) Instagram took down a post related to bribery allegations made by a Russian opposition leader against the country's deputy prime minister. A video alleged Deputy Prime Minister Sergei Prikhodko took a bribe from oligarch Oleg Deripaska. (CNBC)

Sweden's Frida Hansdotter held off the clear favorite, American standout Mikaela Shiffrin, to win gold in the women's slalom. Shiffrin, who won the Olympic slalom title four years ago in Sochi when she was only 18, wound up fourth. Here's the medal count. (NBC Olympics)


CBS (CBS) reported adjusted quarterly profit of $1.20 per share, 6 cents above estimates, with revenue also beating forecasts. A slide in ad sales is being offset by higher affiliate and subscription fees.

Shake Shack (SHAK) beat estimates by 4 cents with adjusted quarterly profit of 10 cents per share, while the restaurant chain's revenue was above forecasts as well. Comparable store sales rose 0.8 percent, but that was slightly short. Shake Shack also gave a weaker-than-expected forecast.

TrueCar (TRUE) surprised Wall Street with an adjusted quarterly profit of five cents per share, compared to forecasts of a breakeven quarter. The car-buying website reported better than expected revenue as well, but gave a current quarter revenue forecast shy of estimates.

Sleep Number (SNBR), the company formerly known as Select Comfort, came in 14 cents above estimates with adjusted quarterly profit of 33 cents per share, while the mattress seller also saw revenue beat forecasts.


Marvel movie "Black Panther" ruled over the international box office, making $23.2 million overseas, after opening in 17 locations, including the United Kingdom, South Korea, and France. It's expected to open to as much as $170 million in North America. (Variety)

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