Morning Brief

Dow rides its first 6 session win streak since February into Friday's trading

Key Points

BY THE NUMBERS

U.S. stock futures were pointing to a mostly higher open on Wall Street, after the S&P 500 and Nasdaq closed at their highest levels since March 16. The Dow's Thursday close was its best since April 18. The Dow posted its first six-day win streak since February. (CNBC)

With seeking fairer trade deals as a top priority of President Donald Trump, the government releases April data on import and export prices at 8:30 a.m. ET. The University of Michigan's mid-May consumer sentiment index is due at 10 a.m. ET. (CNBC)

Shares of Symantec (SYMC) were dropping about 25 percent in the premarket after the cybersecurity software maker said its annual report may be delayed depending on the outcome of an internal investigation of unspecified financial issues. (CNBC)

IN THE NEWS TODAY

President Trump will unveil a plan today to limit prices on some costly drugs, though it will not go as far as some Democrats want, according to senior administration officials. (CNBC)

* Automakers head to the White House today to talk emissions (WSJ)
* US and Chinese officials to meet in DC today to discuss trade dispute (Reuters)

AT&T (T) reportedly paid Trump's former personal attorney Michael Cohen for guidance on its proposed $85 billion acquisition of Time Warner. Cohen was said to be paid $600,000. (Washington Post)

* Novartis CEO to employees: 'We made a mistake' in dealing with Cohen (CNBC)

White House special assistant Kelly Sadler called Meghan McCain on Thursday to apologize after mocking Sen. John McCain's cancer diagnosis during a meeting earlier in the day, a source told The Hill.

Trump, angry about a rise in illegal immigration, berated Homeland Security Secretary Kirstjen Nielsen in a meeting this week. She has drafted a resignation letter but has not submitted it, officials say. (NY Times)

After the U.S. pulled out of the Iran nuclear deal, a shadow war burst into the open as Israeli warplanes struck Iranian targets in Syria. It was a furious response to what Israel called an Iranian rocket attack. (NY Times)

British regulators said they fined Barclays Chief Executive Jes Staley about $870,000 for breaching conduct rules by attempting to identify who had sent letters criticizing a Barclays employee. (CNBC)

Amazon (AMZN) has built a team within its Alexa unit to dive more deeply into health care. The team's main job is to make Amazon's Alexa voice assistant more useful in the health-care field. (CNBC)

Billionaire visionary Elon Musk said the first tunnel under Los Angeles dug by his Boring Company is almost complete. "We will be offering free rides to the public in a few months," he said. (CNET)

J.P. Morgan Chase (JPM) has created a new management team to help it better serve Wall Street clients who increasingly want to trade with algorithms through electronic platforms. (CNBC)

Residents on the Big Island of Hawaii are on alert for rising levels of toxic gas from lava-oozing fissures, and geologists warned new areas east of the erupting Kilauea volcano may be at risk to lava flow. (Reuters)

STOCKS TO WATCH

Nvidia (NVDA) reported adjusted quarterly profit of $2.05 per share, well above estimates. The chipmaker's revenue also comfortably topped forecasts. Nvidia also gave an upbeat outlook. But the firm's data center business fell shy of expectations.

Dropbox (DBX) came in 3 cents above estimates with adjusted quarterly profit of 8 cents per share. The file hosting company's revenue also beat. Dropbox reported total paying users of 11.5 million, with better-than-expected revenue per user.

Yelp (YELP) lost 3 cents per share for its latest quarter, smaller than the 5 cent loss that Wall Street analysts had expected. The review website's revenue also topped forecasts, thanks to strength in Yelp's advertising business.

News Corp (NWSA) matched forecasts with adjusted quarterly profit of 6 cents per share. The media company's revenue also beat. Revenue was up 5.8 percent over the prior year, helped by improvements in News Corp's digital real estate operation.

AstraZeneca's (AZN) treatment for moderate to severe chronic obstructive pulmonary disease failed to meet its goals in a phase III study.

Wynn Resorts (WYNN) sent an open letter to shareholders critical of its biggest shareholder and co-founder, Elaine Wynn, who's leading what she calls a "Restore Wynn" campaign.

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