Stocks are set to drop at the open as fear of higher rates rattle investors

U.S. stock futures were lower this morning after a third down day in a row for the S&P 500 and Nasdaq. The Dow Jones Industrial Average was the notable exception in Monday's session, breaking a two-day losing streak. (CNBC)

The yield on the benchmark 10-year Treasury note was higher this morning, at around 3.2 percent. Strong economic data last week has pushed up expectations that the Federal Reserve will raise rates at a more rapid pace. (CNBC)

* Rising yields could be a big problem for booming corporate profits (CNBC)
* IMF cuts its global economic growth forecasts, citing trade tensions (CNBC)

New York Fed President John Williams speaks in Bali, Indonesia, at 9:15 a.m. ET. Meanwhile, the NFIB Small Business Optimism Index continued a 23-month uptrend. September's reading was the third highest ever.

Supreme Court Justice Brett Kavanaugh sought to put a bruising confirmation battle behind him at the White House ceremony late last night in which President Donald Trump apologized for the heated process. (Reuters)

Kavanaugh confirmation fight over the last few weeks has led to a huge increase in donations to Democrats, according to Axios. However. Republicans have said a "Brett bounce" is increasing enthusiasm among their base.

CNBC reported that a super PAC funded almost entirely by billionaire and former New York Mayor Mike Bloomberg has opened up its coffers to seven women running to unseat veteran Republican incumbents in the House.

Trump and his son-in-law, Jared Kushner, will reportedly meet with the musician Kanye West on Thursday at the White House. The president and Kushner recently met with West's wife, Kim Kardashian West. (NY Times)

The New York Times reported that Trump campaign aide Rick Gates requested proposals in 2016 from an Israeli company to create fake online identities, to use social media manipulation and to gather intelligence to help defeat opponents.

Hope Hicks, one of Trump's most trusted aides, will head to Fox to become its new chief communications officer. She served as White House communications director and director of strategic communications for Trump until she left in April. (CNBC)

The Trump administration will seek to reform two parts of the nation's policy to promote biofuels. It marks its latest attempt to reach a mutually beneficial outcome for two of the president's key constituencies: the fossil fuel industry and farm states. (CNBC)

Hurricane Michael, moving north-northwestward through the southern Gulf of Mexico, is expected to make landfall as a major hurricane in Florida, according to the U.S. National Hurricane Center. It's currently a category 1 hurricane. (Reuters)

* Delta caps fares, waives change fees ahead of Michael (CNBC)
* Oil and natural-gas operators evacuate some Gulf of Mexico platforms (MarketWatch)

Alphabet's (GOOGL) Google did not initially disclose a Google+ security bug when it first discovered it this spring because it feared regulatory scrutiny and reputational damage, according to a Wall Street Journal report.

Some advertisers are moving more than half of the budget they normally spend with Google search to Amazon (AMZN) ads instead, amounting to hundreds of millions of dollars, according to execs at multiple media agencies. (CNBC)

British billionaire entrepreneur Richard Branson believes Virgin Galactic will be in space "within weeks, not months," and he personally will go up in "in months and not years." (CNBC)

* Branson gives Elon Musk some advice: Learn to delegate and get some sleep (CNBC)

A medical start-up called Heartbeat is opening up clinics all over New York. They're hoping to reduce the rate of heart disease through a combination of digital technology, medical tests, and advice. (CNBC)

* CNBC unveils its annual list of 100 promising start-ups to watch

Trian Fund Management is considering a takeover bid for Papa John's (PZZA), according to the Wall Street Journal. The activist hedge fund also has a 13 percent stake in Wendy's (WEN).

Netflix (NFLX) announced it will acquire ABQ Studios, a production studio in New Mexico's largest city. The streaming giant expects it'll bring $1 billion in production to the state over the next 10 years.

Edwards Lifesciences (EW) announced the start of an 1,000-patient clinical trial to study its transcatheter valve technology. The device is intended for patients at high risk of open-heart surgery.

Affimed (AFMD) will suspend the clinical study of its AFM11 cancer drug after one patient died during the phase 1 study. Two other patients suffered from "life-threatening events," the company said.

New Orleans Saints' Drew Brees became the NFL's all-time passing leader last night, breaking Peyton Manning's record of 71,940 career passing yards. Manning congratulated Brees with a video message that was both hilarious and heartfelt. (ESPN)