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Morning Brief

Dow futures lower | FBI aides Boeing probe | Levi Strauss trading set

BY THE NUMBERS

U.S. stock futures were lower this morning as investors try to digest the implications of yesterday's Fed meeting. The Nasdaq, however, was indicated modestly higher, riding a four-day win streak and up in seven of the past eight sessions. (CNBC)

* Fed holds line on rates, says no more hikes ahead this year (CNBC)
* Trump finally got his wish from the Fed, but not for the reasons he wanted (CNBC)

Boeing (BA) shares remain under pressure this morning in the aftermath of the most recent 737 MAX crash, with NBC News confirming that the FBI has joined the investigation into the certification process for the jet.

Levi Strauss (LEVI) will begin trading today after the jeans maker's initial public offering priced at $17 per share, above the expected range of $14 to $16. That gives the company a market value of $6.6 billion. (CNBC)

The Labor Department releases initial jobless claims for the week ending March 16 at 8:30 a.m. ET. At the same time, the Philadelphia Fed Manufacturing Index is out, seen rebounding to positive territory from February's negative reading. (CNBC)

Conagra Brands (CAG), Darden Restaurants (DRI), and Lands' End (LE) are out with quarterly earnings this morning, while Dow component Nike (NKE) highlights today's after-the-bell releases. Cintas (CTAS) and Scholastic Corp. (SCHL) are also after the close. (CNBC)

IN THE NEWS TODAY

Prime Minister Jacinda Ardern announced an immediate ban today on sales of "military-style" semi-automatic and automatic weapons similar to those used in the attacks on two mosques in Christchurch that killed 50 worshippers. (AP)

U.S. allies are defying President Donald Trump's plea to ban Huawei from 5G networks. Germany's 5G spectrum auction began on Tuesday and the government has not excluded Huawei from providing networking equipment. (CNBC)

Republican senators are defending the late Sen. John McCain after comments from President Trump, who claimed credit for the senator's moving Washington funeral and complained he was never properly thanked. (AP)

CNBC has learned that a leading Democratic fundraiser who helped former President Barack Obama during his two presidential campaigns has been indicating to friends that he's likely to support Beto O'Rourke in the 2020 race.

European leaders are meeting today to decide whether to grant the U.K. an extension to its Brexit due on March 29. The move comes after lawmakers rejected Prime Minister Theresa May's Brexit deal for a second time earlier this month. (CNBC)

The Wall Street Journal will be part of Apple's (AAPL) new subscription news service, but the New York Times and Washington Post will not. That's according to the Times, which said Apple has been asking for about half the subscription revenue.

Amazon (AMZN) has been more aggressively enforcing its policy of suspending ads if the product being promoted doesn't make money. It's part of a series of recent moves by Amazon to help the company reach record profits. (CNBC)

CVS Pharmacy said that it has started selling cannabidiol, or CBD, products in select states. The pharmacy chain said the products include topicals such as creams, sprays, roll-ons, lotions and salves. (CNBC)

Walmart's (WMT) Chief Technology Officer Jeremy King is leaving the retail giant, after leading a revamp of Walmart's e-commerce platform. King had been with Walmart since 2011. (CNBC)

STOCKS TO WATCH

Micron Technology (MU) reported adjusted quarterly profit of $1.71 per share, four cents above estimates, with the chipmaker's revenue also beating Street forecasts. However, Micron's revenue forecast for the current quarter is below estimates, and the company is also trimming its capital expenditures as well as idling some production lines amid what it calls a challenging market environment.

Williams-Sonoma (WSM) earned an adjusted $2.10 per share for its latest quarter, beating the consensus estimate of $1.96. The housewares retailer also saw revenue beat forecasts, although its same-store sales increase of 2.4 percent was slightly below analyst projections. The company also announced a five cent dividend hike to 48 cents per share and increased its stock buyback program by $500 million.

Guess (GES) missed estimates by five cents with adjusted quarterly profit of 70 cents per share, though the apparel maker's revenue did beat forecasts. Guess also gave a weaker than expected forecast for the current quarter and full year.

Clorox (CLX) is suing rival household products maker Reckitt Benckiser, saying the British company is falsely claiming in ads that its Lysol products are superior to those made by Clorox.

Tootsie Roll Industries (TR) was ordered by a judge to temporarily stop using its packaging for its new Charms Mini Pops. Spangler Candy Co. had sued Tootsie Roll, saying that the Mini Pops packaging too closely resembles the packaging for its Dum Dums lollipops.

Herman Miller (MLHR) reported adjusted quarterly profit of 64 cents per share, beating the consensus estimate of 60 cents, although the office furniture maker's revenue fell below forecasts. The company also gave a better than expected current quarter and full year earnings forecast.

WATERCOOLER

"Don't just fly. Soar," Timothy Q. Mouse tells an apprehensive Dumbo in Disney's (DIS) 1941 animated classic of the same name. Due out March 29, the film is tracking towards a $50 million to $60 million opening weekend. (CNBC)