Morning Brief

Stock futures seesaw ahead of Friday's jobs report


U.S. stock futures were mixed ahead of today's jobs report. Markets moved lower on Thursday, with the Dow Jones Industrial Average breaking a five-day win streak. The S&P 500 and Nasdaq saw their worst days since June. (CNBC)

Investors will be waiting for the September employment report from the Bureau of Labor Statistics, due out at 8:30 a.m. ET. The latest nonfarm payrolls report is expected to show the U.S. economy adding 185,000 jobs in the last month. (CNBC)

* Jobs data could trigger correction if wages come in too hot (CNBC)

Treasury yields continued to tick higher this morning ahead of the jobs report. In the previous session, the yield on the 10-year Treasury note hit its highest level since May 2011, following positive economic data. (CNBC)

DoubleLine's Gundlach: 30-year US Treasury signals significantly higher bond yields ahead (Reuters)

Tesla's (TSLA) stock was 2.4 percent lower in premarket after CEO Elon Musk mocked the SEC in a tweet, calling the agency the "Shortseller Enrichment Commission," days after settling fraud charges brought against him by the agency. (CNBC)

* Mark Cuban urged Musk to settle SEC charges (WSJ)
* Judge asks Musk and SEC to justify why settlement is 'fair and reasonable' (CNBC)


The Senate is poised to vote today on whether to advance Brett Kavanaugh's nomination to the Supreme Court as key GOP senators remain undecided amid allegations of sexual misconduct and protests that have divided the nation. (AP)

* How senators reviewed the FBI's Kavanaugh report (USA Today)
* Kavanaugh admits he might have been 'too emotional' in testimony (Reuters)

Hundreds of Facebook (FB) employees voiced outraged at a senior executive for attending Kavanaugh's hearing in an apparent show of support for the Supreme Court nominee, according to reports by The New York Times and The Wall Street Journal.

Beijing lashed out today at Vice President Mike Pence after Washington's No.2 lobbed multiple allegations at China. His speech Thursday accused China of "malign" efforts to undermine President Donald Trump ahead of congressional elections. (CNBC)

Wilbur Ross CNBC op-ed: Leveling the playing field for American workers

New York State Attorney General Barbara Underwood in a new court filing on Thursday said that President Trump caused his charitable foundation to break state and federal laws governing non-profit organizations. (CNBC)

McDonald's (MCD) became the latest minimum wage target for Sen. Bernie Sanders. He's demanding the fast food chain pay its workers $15 an hour. Sanders previously called out Amazon (AMZN) to increase its wages, which it later did. (CNBC)

More than 6.5 million pounds of raw beef products have been recalled from a plant in Arizona. Federal officials said the meat may be contaminated with Salmonella Newport, a strain of the bacteria that is a common cause of food poisoning. (USA Today)

Toyota recalls more than 2 million vehicles, mostly Prius models, over hybrid-system fault (WSJ)

Denis Mukwege, a gynecologist helping victims of sexual violence in the Democratic Republic of Congo, and Nadia Murad, a Yazidi rights activist and survivor of sexual slavery by Islamic State, won the 2018 Nobel Peace Prize today. (Reuters)


Amazon (AMZN) quietly launched a new "accelerator" program to create more exclusive brands for its website, CNBC reported. The company's private label business is on pace to generate $25 billion in sales by 2022, according to SunTrust Robinson Humphrey.

Costco (COST) reported fourth-quarter earnings per share of $2.36, in line with Wall Street's estimates. Costco reported $44.41 billion in revenue, slightly higher than the $44.27 billion expected by analysts.

Smart Global Holdings (SGH) reported fourth-quarter earnings per share of $1.72, according to Reuters, compared to the $1.66 analysts estimated. Revenue came in at $374 million, according to Reuters, while analysts expected $369 million in revenue.

Apple (AAPL) disputed a report from Bloomberg BusinessWeek that suggests its servers were embedded with Chinese spy chips. The tech giant also said it's not under any sort of gag order.

Snap (SNAP) CEO Evan Spiegel outlined the company's goals for profitability in 2019 and apologized for its "rushed" redesign in a 15-page memo sent to employees dated September 26, Cheddar reported. The company's stock is trading at under $8 for the first time ever.


A rare 60-year-old Macallan whisky fetched $1.1 million at an auction this week. Bidding on the bottle, which set the record for the most expensive whisky in the world, had been forecast between $911,000 to $1.17 million. (USA Today)