Stocks to rise | Tesla cuts jobs | Netflix misses on revenue

BY THE NUMBERS

U.S. stock futures were pointing to a higher open and a possible fourth straight day of gains for the Dow, S&P 500, and Nasdaq, with the latest boost coming from reports the White House is mulling a pullback of trade tariffs against China. (CNBC)

Ahead of Friday trading on Wall Street, the Dow looks to build on Thursday's correction-busting rally. While the S&P 500 and Nasdaq remain in correction territory, all three stock measures logged their highest closes since mid-December. (CNBC)

Shares of Tesla (TSLA) were sinking about 7 percent in premarket trading after an employee memo from CEO Elon Musk revealed the electric automaker is reducing its full-time workforce by 7 percent. Musk said the cuts are needed to pay for getting the baseline Model 3 cost down. (CNBC)

* Read Musk's email to Tesla employees explaining the job cuts (CNBC)

Netflix (NFLX) shares were under pressure in the premarket, but off their after hours lows from overnight, on lower-than-expected quarterly revenue, which hinted at higher expenditures. However, per-share earnings and subscriber growth did beat estimates. (CNBC)

* Netflix: We're more scared of Fortnite and YouTube than Disney and Amazon (CNBC)
* Netflix discloses some colossal numbers for its shows (CNBC)

Dow stock American Express (AXP) was lower in the premarket after the credit card giant reported fourth-quarter earnings and revenue that fell short of estimates. Amex blames higher expenses and increased provisions for credit losses. (CNBC)

On the Friday economic calendar, the Fed issues December industrial production and capacity utilization figures at 9:15 p.m. ET. The University of Michigan release preliminary January consumer sentiment index at 10 a.m. ET. A handful of regional banks report earnings. (CNBC)

New York Fed President John Williams speaks at 9:05 a.m. ET. Philadelphia Fed President Patrick Harker speaks at 11 a.m. ET. Investors will be looking for any more clues on whether the Fed might pause its interest rate hikes. (CNBC)

IN THE NEWS TODAY

The partial government shutdown over President Donald Trump's border wall funding demand and Democrats' refusal entered Day 28, leaving 800,000 workers without pay, airport security delayed, and national parks largely unattended. (CNBC)

Trump has now canceled the U.S. delegation trip to the World Economic Forum in Davos, Switzerland, citing the ongoing government shutdown. Last week, the president had scrapped his own plans to attend the forum due the shutdown. (CNBC)

* First lady flies on government jet after Trump postpones Pelosi trip to Afghanistan due to shutdown (CNBC)

Democratic leaders reacted with fury and demanded an investigation after a new Buzzfeed report that president personally directed his ex-attorney, Michael Cohen, to lie to Congress about efforts to build a Tower in Moscow. (Washington Post)

Thousands of anti-abortion activists are coming to the National Mall today for the annual March for Life. They're eagerly waiting to see whether Trump's two Supreme Court appointees will side with them over how abortion services can be legally restricted. (USA Today)

A North Korean envoy has arrived in Washington on for expected talks with Secretary of State Mike Pompeo and a possible encounter with President Donald Trump aimed a laying the groundwork for a second U.S.-North Korea summit. (Reuters)

Les Moonves, ousted CBS (CBS) chief executive, is going to arbitration with the network after being denied his $120 million exit package. Moonves believes he was wrongfully terminated after sexual misconduct allegations surfaced. (CNBC)

A blockbuster winter storm is taking aim at the East, where as much as 40 inches of snow could fall over the weekend. Road travel may become impossible in the heavy snow, and flight delays and cancellations are likely. (USA Today)

STOCKS TO WATCH

JPMorgan Chase (JPM) CEO Jamie Dimon was awarded a 5 percent raise in compensation for 2018 to a total of $31 million, according to an SEC filing. The board of directors cites the bank's strong 2018 performance in awarding Dimon his highest compensation ever.

CVS Health (CVS) and Walmart (WMT) said this morning the world's largest retailer would remain part of CVS's network for commercial and Medicaid pharmacy customers, breaking a contract impasse that CVS disclosed earlier this week.

MGM Resorts (MGM) struck a deal to give a board seat to Keith Meister, the founder of hedge fund Corvex Management. Corvex owns about 3 percent of the casino operator, and the company said it has been holding "constructive dialogue" with Meister over the past several months.

PPG Industries (PPG) will not face a challenge from Trian Fund Management at the paint and coatings producer's annual shareholder meeting, according to sources quoted by Reuters. PPG is said to have met some of Trian's demands for change and set new financial targets.

WATERCOOLER

This weekend features a total lunar eclipse and a supermoon, all wrapped into one. And at the totality of the eclipse, late Sunday or early Monday depending on your location, the moon will look red. (AP)

WATCH:Elon Musk's big ambitions may be killing Tesla