Morning Brief

Wall Street set for a higher open after the Dow recovered the bulk of a nearly 550-point decline


Futures were lower this morning, with no positive momentum in evidence despite a significant comeback for the major averages off yesterday's lows. The Dow had been down as many as 548 points during the Tuesday session before bouncing back. (CNBC)

* The fear gauge and earnings tell Cramer this bottom in the market may be real (CNBC)

Boeing (BA) headlines our list of morning earnings reports, with Alexion Pharmaceuticals (ALXN), AT&T (T), Boston Scientific BSX) and more. After-the-bell earnings headliners include Microsoft (MSFT), Tesla (TSLA), Visa (V) and Ford Motor (F). (CNBC)

The government will release new home sales for September at 10 a.m. ET. The latest data on mortgage applications from the Mortgage Bankers Association is out at 7 a.m. ET, while the Energy Department's assessment of oil and gasoline inventories is at 10:30 a.m. ET. (CNBC)

Mortgage applications weaken further as interest rates rise (CNBC)


President Donald Trump attacked Federal Reserve Chairman Jerome Powell by name in an interview with the Wall Street Journal. Trump once again accused Powell of endangering the U.S. economy by raising interest rates.

* Former Fed Chairman Paul Volcker thinks 'we're in a hell of a mess' (CNBC)

Saudi Arabia is trying to drown out the noise surrounding journalist Jamal Khashoggi's death by hailing multibillion-dollar business deals for its energy and infrastructure sectors at an investment forum in Riyadh this week. (CNBC)

The Trump administration hasn't settled on a plan for what to do if a migrant caravan arrives at the southern border, despite threats by Trump to declare a national emergency or rescind aid from the countries whose people are journeying north. (AP)

Despite the Republican Party's efforts to repeal and undermine "Obamacare," midterm elections may bring the 18 states that have resisted expanding Medicaid closer to taking that step, CNBC's John Harwood reported.

* If Democrats lose these House races, it won't be for lack of cash (CNBC)

Leading e-cigarette manufacturer Juul spent half a million dollars on lobbying last quarter — up 167 percent from the previous quarter — as regulators weigh restrictions on the industry to stem a surge in teens using the devices. (CNBC)

Target (TGT) for the first time ever will offer free, two-day shipping with no minimum purchase required this holiday season, in a bid to win shoppers over rivals like Walmart (WMT) and Amazon (AMZN).

Apple (AAPL) is calling for the introduction of a "comprehensive federal privacy law" in the U.S. In a thinly-veiled message to tech behemoths. Tim Cook insisted U.S.-based companies had no need to fear more stringent privacy regulation laws. (CNBC)

Facebook (FB) is rolling out a revamped version of its chat app Messenger that simplifies its user interface. Messenger, which now has 1.3 billion users per month, previously had nine different tabs, while the new version has only three. (CNBC)

Amazon's (AMZN) move off Oracle's database software was the main reason for an outage in one of its biggest warehouses on Prime Day, according to internal documents obtained by CNBC. It looks to move completely off Oracle's database by 2020.

Someone who purchased a ticket in South Carolina has won the record $1.6 billion Mega Millions jackpot, officials said late last night. The winning numbers were 5, 28, 62, 65, 70 and Mega Ball 5. (AP)


Texas Instruments (TXN) reported quarterly earnings of $1.58 per share, beating estimates by five cents. However, the chipmaker's revenue fell short of forecasts and it also issued weaker-than-expected guidance, which it attributes to a slowdown in the semiconductor sector.

Barclays (BCS) posted better-than-expected third-quarter earnings in spite of higher costs, with higher revenue at its closely watched investment banking business.

Union Pacific (UNP) plans to cut 475 jobs during the fourth quarter, and signaled that more job cuts would be coming in its ongoing effort to boost profitability. The rail operator will also cut 200 contract positions.

Target (TGT) is ramping up its competition with (AMZN) with an expansion of delivery and pickup options for online shoppers. The effort will include free two-day shipping on many items during the holiday shopping season, with no minimum purchase or membership required.

Kraft Heinz (KHC) sold its India business to Indian companies Zydus Wellness and Cadila Healthcare for a little over $627 million.

Dunkin' Brands (DNKN) is revamping its menu of espresso drinks in order to challenge rival Starbucks (SBUX) with less expensive alternatives.

IRobot (IRBT) beat estimates on the top and bottom lines in its latest quarter, and raised its guidance for the full year. However, the maker of the Roomba automated vacuum cleaner said China tariffs would hurt its profit margins since it was not planning to raise prices in response.

Lululemon (LULU) was upgraded to "buy" from "hold" at Canaccord Genuity in a valuation call, with the yoga wear maker's stock down about 17 percent from its recent all-time high.


The Boston Red Sox beat the Los Angeles Dodgers, 8-4, in Game 1 of the World Series. It was not the pitchers' duel that many had hoped for. Chris Sale and a group of Boston relievers managed to get past Clayton Kershaw. (NY Times)