Volatile stocks set to rise | GE cuts dividend | Trump looks to end birthright citizenship

BY THE NUMBERS

Futures were higher this morning ahead of Tuesday's session, but as investors have seen in recent days, a positive open means virtually nothing about where the market closes. The Dow lost a 352 point gain before dipping as many as 566 points and finishing lower by 245. (CNBC)

* This market reminds Jim Cramer of some of the worst declines he's ever seen (CNBC)

Dow components Coca-Cola (KO) and Pfizer (PFE) headline this morning's corporate earnings reports, with former Dow stock General Electric (GE) also reporting. Facebook (FB) headlines today's after-the-bell earnings reports. (CNBC)

* GE slashes quarterly dividend to a penny a share, starting 2019 (CNBC)
* Pfizer posts mixed third-quarter results, narrows full-year forecast (CNBC)

CNBC has learned that Red Hat (RHT) probably won't get an offer higher than the $190-per-share price from IBM (IBM), because rival suitors have already had a chance to bid. Google was one of several companies that had discussed a deal.

The S&P/Case-Shiller report on home prices for August will be out at 9 a.m. ET. At 10 a.m. ET, the Conference Board's October Consumer Confidence Index is expected to come in at 136, down from September's 138.4. (CNBC)

IN THE NEWS TODAY

President Donald Trump is planning to terminate birthright citizenship, according to Axios. He plans to sign an executive order that would remove the right to citizenship for babies of non-citizens and unauthorized immigrants born on U.S. soil.

* US to deploy over 5,200 troops to Mexico border (Reuters)

Trump told Fox News the man suspected of sending explosive devices to CNN and several prominent Democrats "was insane a long time before." He previously claimed that "Fake News" has caused "great anger" in the country.

In the same interview, Trump said he thinks there will be "a great deal" with China on trade. But the president also warned that he has billions of dollars worth of new tariffs ready to go if a deal with Beijing isn't possible.

Republicans expect to have difficulty holding onto their House majority, according to USA Today, who interviewed officials. Behind the scenes, Republicans have formed a circular firing squad ahead of next Tuesday's election.

* GOP worries Trump skeptics in party might sit out midterms (WSJ)

More states are using Medicaid to focus on addressing social determinants of health such as access to housing and food, Axios reported. It's seen as a way to make health care more comprehensive and cost-effective.

Apple (AAPL) will hold a product event today in New York, with new iPad and Mac updates expected to be unveiled. CNBC's Todd Haselton said there may be other surprises as well, including Apple's AirPower wireless charging system.

Walmart (WMT) will be rolling out a "check out with me" option that it's been testing to all stores by Black Friday. Its mobile app this holiday season will also feature store maps that are aimed to help shoppers find items faster.

Facebook (FB) banned ads from Bloom, an online identity management service, saying that it was offering deceptive financial services products. Bloom does not sell any financial products, although people can use its service to apply for loans. (CNBC)

STOCKS TO WATCH

Mondelez International (MDLZ) reported adjusted quarterly profit of 62 cents per share, beating consensus estimates by a penny. The snack maker's revenue did come in slightly below estimates, but it posted stronger than expected organic revenue. The bottom line was helped by higher prices as well as lower expenses.

Akamai Technologies (AKAM) came in 11 cents ahead of Street forecasts with adjusted quarterly profit of 94 cents per share, with revenue also beating estimates. Akamai saw its results boosted by a 37 percent jump in cloud-security revenue, and the company also announced a $1.1 billion stock buyback program.

BP (BP) reported its highest profit in five years, thanks to stronger oil prices. It also said it would be able to fund its acquisition of BHP Billiton's (BHP) shale business entirely from available cash. It had previously planned to use a rights issue to partially fund the $10.5 billion deal.

Sony (SNE) increased its full-year profit outlook on strength in its gaming business, after reporting a 17 percent increase in second quarter operating profit.

BHP Billiton (BHP) is now projecting slower global growth for next year, including cuts in the mining company's China and U.S. GDP growth forecasts by about a half to three quarters of a percentage point. BHP points to what it calls a "lose-lose" situation from the U.S./China trade conflict.

Tesla's (TSLA) Elon Musk tweeted that he has deleted his CEO and Chairman titles at the automaker "to see what would happen".

Third Point is pushing for Campbell Soup (CPB) to explore a breakup of the company, according to sources quoted by the Wall Street Journal. The hedge fund is currently trying to replace Campbell's entire board.

J.C. Penney (JCP) named Michael Fung as interim Chief Financial Officer. Fung had previously held executive roles at retailers Neiman Marcus and 99 Cents Only Stores.

WATERCOOLER

Twitter (TWTR) may be saying goodbye to "Likes." Twitter CEO Jack Dorsey said the social network has been looking at getting rid of the heart-shaped button as a way to improve debate on the platform. (USA Today)