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Morning Brief

Futures lower after market whiplash | Jobs report set | Bitcoin falls 11%


Futures were lower this morning, with momentum from a late Thursday rally off lows failing to carry over. The Dow wiped out most of a 784 point deficit to finish down 79 points, while the Nasdaq erased a 2.4 percent deficit to finish higher. (CNBC)

* Jamie Dimon: Market getting ripped thanks to trade war (CNBC)
* Cramer Remix: If China is serious about lowering trade barriers, this stock is a winner (CNBC)

The government's November employment report is out at 8:30 a.m. ET, with consensus forecasts from economists calling for 198,000 new nonfarm payroll jobs for the month with the unemployment rate remaining at 3.7 percent. (CNBC)

Federal Reserve officials are considering whether to signal a wait-and-see mentality after a likely interest rate increase later this month, according to the Wall Street Journal. It could slow down the pace of rate increases next year.

Oil prices edged higher this morning after Russia seemed likely to contribute a bigger output cut to an OPEC and non-OPEC deal, but Saudi Arabia voiced pessimism on whether an agreement could be reached. (Reuters)

Bitcoin fell more than 11 percent today during Asian hours, marking fresh declines for the world's largest cryptocurrency.

At 10 a.m. ET, the University of Michigan is out with its preliminary December Consumer Sentiment Index, and the government is out with wholesale inventories for October. The Treasury Department will issue October consumer credit numbers at 3 p.m. ET. (CNBC)


Special counsel Robert Mueller today is set to file new disclosures in court cases involving two of President Trump's former close associates, both of whom have entered guilty pleas as part of the ongoing probe into Russian election in 2016. (CNBC)

Former FBI Director James Comey is scheduled to testify in private before two House committees today on his July 2016 decision not to prosecute Hillary Clinton for her use of a private email server and his role in the investigation into Russian meddling in the 2016 election. (USA Today)

A top executive of China's Huawei who is under arrest in Canada is set to appear in a Vancouver court today for a bail hearing as she awaits possible extradition to the United States. The initial news roiled global stock markets. (Reuters)

*John Bolton says 'I knew in advance' about arrest of Huawei executive (CNBC)

The House and Senate passed a measure to keep the government running for two more weeks, sending it to President Trump's desk for his signature. The measure funds parts of the government through Dec. 21. (CNBC)

Republican Sen. Jeff Flake of Arizona and Democratic Sen. Catherine Cortez Masto of Nevada introduced a new bill, aiming for the Department of Defense to stop using federal funds to develop beerbots and robot bartenders. (CNBC)

U.K. lawmakers will vote on Theresa May's Brexit plan on Tuesday, Dec 11. The outcome is uncertain, particularly if May suffers defeat. Some speculate it could lead to a change of prime minister or an attempt to revise the Brexit deal. (CNBC)

CNBC has learned that Apple (AAPL) is in advanced talks to buy rights to a gritty Israeli TV show called "Nevelot" (English translation: "Bastards") and adapt it for the U.S., beating out bids from competitors including Showtime, FX and Amazon.

CNBC has learned Walmart (WMT) plans to buy, adding another digital brand to its portfolio and bolstering its home decor business. was bringing in more than $300 million in sales annually.

* Walmart CEO worries what consumers will have to pay if trade war escalates (CNBC)

Americans shelled out $3.5 trillion on health care last year, or $10,739 per person, but the increase in spending slowed to a pace not seen since 2013, according to a new report from Centers for Medicare and Medicaid Services. (CNBC)


Lululemon (LULU) reported adjusted quarterly profit of 75 cents per share, five cents above estimates, while revenue also beat Street forecasts. The athletic apparel maker saw comparable store sales jump 18 percent compared to a consensus estimate of 13.8 percent, but the company also issued slightly weaker than expected guidance.

Broadcom (AVGO) earned an adjusted $5.58 per share for its latest quarter, coming in above the consensus estimate of $5.58. The chip maker's revenue also came in above forecasts, and Broadcom also gave strong 2019 revenue guidance. Additionally, the company announced a 51 percent dividend increase to $2.65 per share and added $6 billion to its stock buyback program.

Ulta Beauty (ULTA) matched estimates with adjusted quarterly profit of $2.16 per share. Revenue also matched estimates with comparable store sales up 7.8 percent. However, the cosmetics retailer also issued lower than expected current quarter earnings guidance.

American Outdoor Brands (AOBC) beat estimates by six cents with adjusted quarterly profit of 20 cents per share, while the Smith & Wesson parent also saw revenue come in above Street forecasts. The company also increased its full year guidance.

IBM (IBM) struck a deal to sell some software assets to India-based software company HCL Technologies for $1.8 billion. The sale is part of IBM's ongoing effort to de-emphasize its legacy businesses.

Zumiez (ZUMZ) reported quarterly earnings of 55 cents per share, six cents above estimates, with revenue for the action sports apparel company essentially in line with forecasts. However, the company's current quarter guidance is below analyst forecasts.

Fresenius (FMS) shares are under pressure after the German health care company issued a profit warning for 2019 and retracted its previously issued targets for 2020. Fresenius said it planned to invest more money in its hospitals and other businesses.

Fiat Chrysler (FCAU) plans to add Jeep production at a currently out-of-service Detroit plant in 2020, according to a Reuters report.

Chevron (CVX) will spend $20 billion on capital projects in 2020, which would amount to the energy giant's first year-over-year capital spending increase in four years.


Marvel Studios' billion-dollar-grossing hit "Black Panther" has earned three Golden Globes nominations, including a best motion picture nomination, a landmark achievement for superhero cinema. (The Washington Post)