Morning Brief

Dow futures higher | US-China negotiations resume | Border deal talks collapse


U.S. stock futures were higher this morning, sparked in part by hopes for a China trade deal as talks resume this week. A losing session for most of Friday was largely wiped out with a late surge, allowing the Dow and Nasdaq to post their seven straight weekly gains. (CNBC)

* Krugman expects to see a global recession this year, warns 'we don't have an effective response' (CNBC)

Third Point dissolved its stakes in Netflix (NFLX), Microsoft (MSFT), and Alibaba (BABA) during the first quarter, according to its latest 13-F filing. The filing comes after a difficult year for the hedge fund, which saw a yearly loss of about 11 percent. (CNBC)

Avaya (AVYA), Diamond Offshore (DO) and Loews (L) are among the few companies set to report quarterly earnings this morning, while Molina Healthcare (MOH) and MoneyGram (MGI) are among a handful of companies reporting after today's closing bell. (CNBC)

There are no economic numbers on the calendar for today. (CNBC)


Lawmakers' talks on border security issues to avert another U.S. government shutdown have broken down over immigration detention policies, Republican Sen. Richard Shelby told "Fox News Sunday."

Sen. Amy Klobuchar joined a growing field of Democrats in the race to take on President Donald Trump next year. The Minnesota politician's priorities include affordable health care, online consumer protection and election security. (CNBC)

Elizabeth Warren formally launches her 2020 presidential bid (CNBC)

China struck an upbeat note today as trade talks resumed with U.S. But Beijing also expressed anger at a U.S. Navy mission through the disputed South China Sea, casting a shadow over the prospect for improved ties. (Reuters)

* Advisers float Mar-a-lago summit as Trump plots next moves with Xi (Axios)
* Mexico's former president drops F-bomb in describing Trump's approach to the world (CNBC)

The first U.S. tax filing season under the overhaul that Trump signed into law at the end of 2017 got off to a slow start in the first week. The average refund was 8.4 percent smaller than the average refund in the period last year. (Reuters)

A company owned by Keith Schiller, Trump's former longtime bodyguard, has received $225,000 from the RNC for security consulting since he left his White House job in September 2017. (CNBC)

Federal prosecutors are reviewing the National Enquirer's handling of a story involving Jeff Bezos' affair, a source told NBC News. Prosecutors are seeking to determine whether the tabloid violated an earlier immunity agreement.

Tesla (TSLA) has cut 150 of 230 workers at a Las Vegas facility that delivers vehicles to North American customers, according to Reuters. Worker quoted in the report say it's a sign that the company expects the pace of deliveries to slow.

Fitbit (FIT) has recently introduced a new activity and sleep tracker. But unlike it's previous devices, this one is only available if your health insurance plan or employer is signed up with Fitbit. (CNBC)

Swedish furniture giant Ikea has apologized for leaving New Zealand off a world map that was being sold at one of its Washington D.C. outlets, the BBC reported.


Apollo Global Management (APO) is near a deal to buy 14 regional TV stations from privately held Cox Enterprises, according to Reuters quoting people familiar with the matter.

A federal judge dismissed a lawsuit accusing Walmart and six other retailers of extortion. The retailers had been sued by three plaintiffs accused of shoplifting, who maintained that there was a conspiracy to force accused shoplifters to pay up front or in installment to avoid prosecution.

Lockheed Martin (LMT) and others were sued by the government for alleged false claims and kickbacks. The case involves a multibillion dollar contract to clean up a nuclear site. Lockheed denies the allegation and said it would defend the matter vigorously.

Apple (AAPL) saw a 19.9 percent drop in smartphone shipments in China during the fourth quarter, according to a report in the South China Morning Post.

Activision Blizzard (ATVI) plans to announce hundreds of jobs Tuesday due to slowing sales, according to a Bloomberg report.

Avis Budget (CAR) was upgraded to "buy from "sell" at Goldman Sachs in a valuation call, with the price target increased to $35 per share from $30.

Bed Bath & Beyond (BBBY) was downgraded to "sell" from "hold" at Loop Capital Markets, which said it does not expect the housewares retailer to achieve its current full year guidance.


Cardi B made history at last night's Grammy Awards, becoming the first solo woman to win the best rap album award for her debut "Invasion of Privacy," beating out Nipsey Hussle, Pusha T, Travis Scott, and the late Mac Miller. (Variety)