Wall Street is poised to rally after the Dow saw a 2-day plunge of nearly 1,400 points

BY THE NUMBERS

U.S. stock futures were higher this morning, but enough to make a small dent into the sharp losses of the past two days. The Dow, S&P 500, and Nasdaq are all on track to post their biggest weekly losses since the week ending March 23.

* China looks the most hurt by week's global market turmoil (CNBC)
* Cramer: It's time to buy stocks after massive sell-off: 'We are oversold' (CNBC)

Earnings season officially kicks off this morning with quarterly earnings from Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC), and PNC Financial (PNC). There are no earnings reports to note after today's closing bell. (CNBC)

* JPMorgan Chase third quarter earnings top Wall Street estimates (CNBC)

On the data front this morning, the government is out with September import and export prices at 8:30 a.m. ET. And at 10 a.m. ET, the University of Michigan is out with its preliminary Consumer Sentiment Index for October. (CNBC)

IN THE NEWS TODAY

Rescuers will pick through the rubble of ravaged beach communities searching for survivors today after Michael, one of the most powerful hurricanes in U.S. history, slammed into the Florida Panhandle, killing at least seven people. (Reuters)

* After Michael's rampage: There's 'Nothing left' (AP)

NBC has learned that lawyers for President Donald Trump are preparing written responses to questions sent by special counsel Robert Mueller. The possibility of a sit-down interview with the president is reportedly still being debated.

Sources told CNBC that Dina Powell, a Goldman Sachs (GS) executive, had told friends that she was leaning toward staying at the firm instead of becoming President Trump's next U.S. ambassador to the United Nations. (CNBC)

Rapper and entrepreneur Kanye West spent a stunning and surreal half hour talking to Trump in the Oval Office yesterday afternoon. He was surrounded by White House aides, reporters and former NFL star Jim Brown. (CNBC)

U.S. officials imposed new restrictions on nuclear exports to China. That happened after officials concluded that China was seeking to illicitly acquire the technology to bolster its military and to undermine U.S. industry. (WSJ)

Trump's top economic advisor Larry Kudlow said the White House has taken steps toward setting up a meeting between Trump and Chinese President Xi Jinping as the world's two largest economies clash over trade. (CNBC)

* Trade war could cut China's growth by nearly 2 percentage points over two years: IMF (CNBC)

Tesla (TSLA) said orders for its vehicles placed by Oct. 15 will still be eligible for a full $7,500 tax credit. The credit begins to reduce at the conclusion of the quarter after the three-month period in which an alternative fuel carmaker sells 200,000 vehicles. (Reuters)

The U.S. Postal Service has proposed a 9 to 12 percent increase in fees for the shipping service used by Amazon (AMZN). The move happens just months Trump criticized the USPS, saying it gives Amazon too good of a deal. (CNBC)

Facebook (FB) said it has taken down hundreds of U.S. pages and accounts that were spreading false or misleading political content. The social network said the accounts broke rules against "spam" and "coordinated inauthentic behavior." (WSJ)

STOCKS TO WATCH

Intel (INTC) has reduced its stake in supplier ASML (ASML) to just below three percent. Intel had originally bought a stake in 2012, along with two other semiconductor companies, to help fund ASML's next-generation lithography systems.

AbbVie (ABBV) resolved a patent dispute with Sandoz over its best-selling Humira drug. Sandoz is the generic drug unit of Switzerland's Novartis (NVS). Sandoz will receive a license to sell Humira in most EU countries.

Netflix (NFLX) was upgraded to "buy" from "neutral" at Citi, which said this week's sell-off has pushed the stock down to attractive levels considering its strong fundamentals and highly recurring subscription revenue.

NiSource (NI) affiliate Columbia Gas was blamed for a recent deadly Massachusetts gas explosion. The NTSB said Columbia did not require repair crews to relocate pressure sensors while doing work on natural gas pipelines.

Public Storage (PSA) European affiliate Shurgard priced its initial public offering in Europe at the bottom end of the projected price range. Shurgard is Europe's largest self-storage provider and is 49 percent owned by US-based Public Storage.

RH (RH) was upgraded to "buy" from "hold" at Stifel Nicolaus, which points to valuation as well as increased brand strength for the Restoration Hardware parent.

Snap (SNAP) was upgraded to "buy" from "hold" and Twitter (TWTR) was upgraded to "hold" from "sell" at Pivotal Research, with both calls partly based on stock price drops over the past two days. Pivotal notes that the Snapchat parent does have a widening user base and that the company can improve monetization.

WATERCOOLER

Ryan Coogler, the director an co-writer of Marvel's smash hit "Black Panther," will return to Wakanda, according to Variety. Coogler is reportedly on board to write and direct the sequel. Chadwick Boseman is also expected to return.