Morning Brief

Stocks are seen extending gains at the open on Wall Street


U.S. stock futures were pointing to modest gains at the Tuesday open, giving the Dow, S&P 500, and Nasdaq a chance to rise for a fourth straight day and a fifth time in six sessions. All three are on-track for a positive August. (CNBC)

* It's the longest running bull market, depending on who you ask (CNBC)

Earnings reports out this morning include retailers Kohl's (KSS) and TJX (TJX). Retailer Urban Outfitters (URBN) leads today's after-the-bell reports. La-Z-Boy (LZB) and Red Robin (RRGB) are also out with quarterly results this afternoon. (CNBC)

* Kohl's shares slide despite topping earnings and sales expectations (CNBC)

Shares of Toll Brothers (TOL) were surging in the premarket after the luxury homebuilder reported better than expected earnings and revenue. Toll Brothers also raised its full-year forecast. (Reuters)

Bank of America Merrill Lynch bumped its price target on Apple (AAPL) stock up to $250 per share from $230 per share, citing confidence in the tech giant's push to diversify its mobile application offerings. (CNBC)


Microsoft (MSFT) said Russian hackers linked to cyberattacks during the 2016 election are now widening their targets to include the upcoming midterms as well as conservative groups. Russian authorities immediately denied the allegations. (AP)

Federal jurors continue deliberations today in Alexandria, Virginia in the financial fraud trial of former Trump campaign chairman Paul Manafort. In Day 3 of deliberations, the jury requested to go longer, raising speculation a verdict might be near. (USA Today)

The Trump administration tomorrow is expected to reveal its long-awaited plan to scale back an Obama-era rule designed to cut emissions from the nation's power plants, reportedly giving states the authority to create their own rules for coal-fired facilities. (CNBC)

The White House is moving closer this week to levying tariffs on nearly half of Chinese imports despite broad opposition from U.S. business and the start of a new  round of talks between the U.S. and China. (WSJ)

* Trump does not anticipate much from China trade talks this week (Reuters)
Trump auto tariff timetable likely to slip amid Europe and NAFTA talks (WSJ)

President Trump stepped up his criticism of the central bank, saying he disagrees with the Fed's decision to raise interest rates. The comments come days before Friday's much-anticipated speech by Fed Chair Jerome Powell at Jackson Hole. (CNBC)

More than two years in the making, J.P. Morgan Chase (JPM) will be rolling out a digital investing service next week that comes bundled with free or discounted trades, a sophisticated portfolio-building tool, and no-fee access to the bank's stock research. (CNBC)

Amazon (AMZN) has hired well-known cardiologist Maulik Majmudar for a new role, as it looks to move into the $3 trillion health care sector. Before joining the tech giant, he worked at Massachusetts General Hospital and lectured at MIT. (CNBC)

* Alphabet-backed One Medical is in talks to raise more than $200 million (CNBC)

Nvidia (NVDA) unveiled its new GeForce RTX 2000 series of graphics cards at Gamescom in Germany. Based on Nvidia's new architecture, the RTX 2080 promises "up to 6X the performance of previous-generation graphics cards." (The Verge)

Tesla (TSLA) suppliers are worried about the electric automaker's finances, according to the Wall Street Journal, which cited a survey saying 18 of 22 respondents believe Tesla is now a financial risk to their companies. The stock broke a four-session losing streak on Monday. (CNBC)

Hertz Global (HTZ) Chief Financial Officer Thomas Kennedy resigned after nearly five years on the job. The car rental company's Chief Accounting Officer Robin Kramer will service as interim CFO until Sept. 10, when former Nielsen (NSLN) finance chief Jamere Jackson will take over. (CNBC)

Nike (NKE) has been denounced for selling a balaclava that looks "menacing," and which critics say could incite gang violence. There are also straps worn on the chest that some on social media likened to a holster. (CNBC)

Nabisco-parent Mondelez (MDLZ) has redesigned the packaging of its animal crackers, showing the animals roaming free instead of in cages, after pressure from PETA. (AP)


Medtronic (MDT) reported adjusted quarterly profit of $1.17 per share, 6 cents above estimates, with revenue also beating forecasts. The medical device maker also raised its full-year revenue guidance.

J.M. Smucker (SJM) came in 2 cents above estimates with adjusted quarterly profit of $1.78 per share, but the food producer's revenue missed forecasts and it also warned on full-year outlook.

Coty (COTY) earned an adjusted 14 cents per share for its latest quarter, beating estimates by 1 cent. However, revenue at the beauty products maker was below forecasts, impacted by supply chain disruptions.

BHP Billiton (BHP) reported better than expected profit and a record high dividend for the fiscal year that ended June 30. The mining giant cited the U.S.-China trade dispute and rising costs as potential negatives.


The Eagles' "Greatest Hits" album, released in 1976, has passed Michael Jackson's 1982 "Thriller" to become the best-selling album of all-time in the U.S. with sales and streams reaching 38 million. (AP)