Futures are pointing to a Friday stock stumble

BY THE NUMBERS

Futures were lower this morning, increasing the possibility that the Dow and S&P 500 will lose their gains for the week at the open. The Nasdaq is also indicated lower, but not enough to wipe out what would be a second consecutive positive week. (CNBC)

* Cramer: Trade sanctions are hurting hedge funds the most (CNBC)

Investors will get more inflation data today, as the July Consumer Price Index is released at 8:30 a.m. ET. Meredith Corp. (MDP) is the only earnings report of note out this morning, and there are none scheduled after today's closing bell. (CNBC)

The Turkish lira has collapsed to an all-time record low versus the U.S. dollar, falling more than 12 percent in value to reach more than six lira to each dollar. The country's economy is viewed as imbalanced due to rampant inflation. (CNBC)

IN THE NEWS TODAY

Russia's prime minister warned the U.S. today that sanctions it plans to impose against Moscow over the nerve-agent attack of a former spy living in Britain could be treated as a declaration of an economic war, according to Reuters.

* US sanctions against Iran could make maintaining the world's oil supply 'very challenging,' IEA says (CNBC)

Vice President Mike Pence announced the Pentagon's detailed plan for President Donald Trump's vision of a Space Force, which would establish the first military branch in over 70 years. Trump directed the Pentagon in June to begin the creation of the new branch. (CNBC)

* Graduates of SpaceX, NASA and Stanford are building an internet in space (CNBC)

U.S. national security officials pushed NATO ambassadors to finish a critical policy document before a meeting last month, The New York Times reported. They were seeking to prevent Trump from upending the policy.

Rep. Chris Collins, R-N.Y., used campaign funds to pay legal bills while he faced investigation for alleged insider trading for more than a year. The congressman is now paying for his own legal bills as he mounts a defense. (CNBC)

Democratic candidates for the 2018 House midterms are pushing a muscular firearms regulation agenda, the Wall Street Journal reported. The Journal said that's a wholesale repositioning after the party for a generation avoided new limits.

* 2018's midterm messaging mess (Axios)

A federal judge ordered a plane carrying a mother and daughter to head back to the U.S. They were whisked away hours earlier by authorities before a hearing on their deportation status could be completed. (USA Today)

Tesla's (TSLA) board of directors will meet with financial advisors next week to discuss CEO Elon Musk's proposal to take the company private, sources say. Musk tweeted earlier this week that he was considering taking the automaker private at $420 per share. (CNBC)

Amazon is looking to build out clinics for its employees, CNBC has learned, citing people familiar with the matter. The e-commerce giant is starting small with a pilot, but is looking to expand the effort early next year.

Samsung launched the Galaxy Note 9, which features a huge 6.4-inch screen. The South Korean electronics giant hopes its new $1,000 smartphone will grab iPhone users and reverse disappointing sales. (CNBC)

STOCKS TO WATCH

News Corp. (NWSA) reported adjusted quarterly profit of eight cents per share, two cents above estimates. The Wall Street Journal publisher also saw revenue top forecasts, thanks to growth in real estate listings, book publishing and subscription video services.

Dropbox (DBX) beat estimates by five cents with adjusted quarterly profit of 11 cents per share, with the file storage company's revenue also topping forecasts. The increase came on the strength of a 20 percent increase in paying customers to 11.9 million, more than analysts had anticipated.

Lions Gate Entertainment (LGF) lost four cents per share for its second quarter, smaller than the seven cent loss anticipated by Wall Street analysts. The entertainment company saw media networks revenue increase by 3 percent, while TV production saw a 7 percent increase. However, motion picture revenue fell by 41 percent.

TrueCar (TRUE) reported adjusted quarterly profit of four cents per share, matching Wall Street estimates, with the car pricing service's revenue also in line with forecasts. The company did give a full-year revenue outlook range that falls largely above analyst estimates.

Overstock.com (OSTK) shares are getting a boost on news that Hong Kong private equity firm GSR capital is buying shares in the online retailer, as well as investing in its blockchain subsidiary tZero.

Qualcomm (QCOM) will pay about $93 million to settle an anti-trust case in Taiwan, in addition to agreeing to invest $700 million in Taiwan over the next five years. Those terms replace a $778 million fine imposed last year in a dispute over the chip-maker's patent licensing terms.

WATERCOOLER

Tomorrow morning, NASA will brave the heat and get up close and personal with the Sun. The Parker Solar Probe will get closer to the Sun than any spacecraft, coming within 4 million miles of the surface. (NPR)