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Morning Brief

Brexit woes hit Sterling | Walmart expects strong holiday season | Powell credits Fed policy


U.S. stock futures were modestly higher this morning after new developments in the U.S.-China trade dispute. The Dow posted its longest daily losing streak since August on Wednesday. The Nasdaq remains in correction territory. (CNBC)

* Cramer's 3 cardinal rules for investing during a bear market (CNBC)

Sterling fell against the dollar after U.K. Brexit Secretary Dominic Raab resigned from his post, piling more pressure on U.K. Prime Minister Theresa May. He said he couldn't reconcile with the terms of her proposed Brexit deal. (CNBC)

Bitcoin's market cap fell below the $100 billion mark today, a level not seen since October 2017. The entire cryptocurrency market capitalization dropped by $15 billion over 24 hours the day before, according to (CNBC)

Investors will be keeping a close watch on a slew of economic data expected today. At 8:30 a.m. ET, weekly jobless claims numbers are expected, followed by retail sales and a Philly Fed manufacturing survey at the same time. (CNBC)

Walmart (WMT) and J.C. Penny (JCP) are due to report quarterly earnings before the bell, while Nvidia (NVDA) and Nordstrom (JWN) are expected to report after the bell.

Walmart posts mixed quarter but raises forecast, expecting strong holiday (CNBC)


China delivered a written response to U.S. demands for wide-ranging trade reforms, according to a Reuters report, a move that could trigger more formal negotiations to resolve a withering trade war between the world's top economies.

Saudi Arabia's public prosecutor charged 11 people over the murder of journalist Jamal Khashoggi. The prosecutor is seeking the death penalty for five of the accused. (WSJ)

Fed Chair Jerome Powell said the U.S. economy "is in such a good place right now " and credited in part monetary policy. He also cautioned markets that every Fed meeting from now on will be "live" for the possibility of an interest rate hike. (CNBC)

CNBC has learned that at least 13 countries have expressed interest in buying a Russian missile system instead of platforms made by American companies, despite the potential for triggering United States sanctions.

Democratic candidate and businessman Harley Rouda is the apparent winner in a hotly contested race in California's historically conservative 48th Congressional District, unseating longtime GOP Rep. Dana Rohrabacher, according to NBC News.

The death toll of the deadliest wildfire in California history rose to 56 as of last night, and 130 people remain unaccounted for. The number of structures destroyed went up to 10,321 — of which 8,650 are single-family homes. (USA Today)

The Northeast will prepare for a possible winterstorm coming late tonight and tomorrow, which would bring snow, ice, rain and likely travel headaches. Strong winds may also develop along the Eastern Seaboard. (The Weather Channel).

CNBC has learned that Levi Strauss, the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering. The company is targeting the first quarter of 2019 for the offering.

Ride-hailing service Uber's losses ticked up to nearly $1 billion during the third quarter and annualized growth is continuing to slow, according to the private company's self-reported financials for Q3. (CNBC)

Obamacare sign-ups on the federal insurance marketplace fell in the first two weeks of this enrollment season compared to last year. The tally is being watched because fiscal 2019 will be the first year since the repeal of the individual mandate. (CNBC)


Ford (F) is road testing its autonomous vehicles in partnership with the city of Miami. Ford plans to launch self-driving cars in 2021, and has said it plans to invest a total of $4 billion into AV technology through 2023.

Facebook (FB) expanded its relationship with a Washington-based public relations firm last year that wrote dozens of articles critical of rivals Google (GOOGL) and Apple (AAPL), according a report by the New York Times.

American Airlines (AAL) said it was "unaware" of some functions of an anti-stall system on Boeing's (BA) 737 MAX until last week.

Cisco Systems (CSCO) shares were up more than 5 percent in premarket trading after the networking hardware firm reported earnings of 75 cents per share, beating expectations. Cisco, a Dow component, also beat on revenue.

Shares of Dow-stock J.P. Morgan Chase (JPM) were up about 2 percent in the premarket after Warren Buffett's Berkshire Hathaway (BRK.a) reported in its third-quarter holdings filing a new $4 billion stake in the bank.

Oracle (ORCL) shares were up about 3 percent after Berkshire reported a 41.4 million share stake in the computing company. Berkshire also increased its massive stake in Apple (AAPL) during the quarter.


Singer-songwriter Keith Urban won his second Entertainer of the Year Award last night at the 52nd CMA Awards. Urban's "Coming Home" launched his critically acclaimed album "Graffiti U" this spring and has since sold out arenas. (USA Today)