Morning Brief

Stocks set to rise | Caterpillar shares fall | US-China reportedly near trade deal


U.S. stock futures were higher this morning, giving the S&P 500 and Nasdaq a chance to extend their four-day win streaks. The Dow is also indicated higher this morning, after falling Tuesday for the first time in four sessions as it was weighed down by Walgreens. (CNBC)

Caterpillar (CAT), a bellwhether for the global economy, fell this morning in pre-market trading after Deutsche Bank downgraded the maker of earth movers and other construction equipment. "Synchronized global growth has collapsed," the firm said. (CNBC)

Three Fed officials will appear at an American Bankers Association event today - Atlanta Fed President Raphael Bostic, Kansas City Fed President Esther George, and Richmond Fed President Tom Barkin. George is a voting member of the FOMC for 2019. (CNBC)

ADP is set to release its March report on private sector employment at 8:15 a.m. ET. At 10 a.m. ET, the Institute For Supply Management will release its non-manufacturing index. Separately, lighting products maker Acuity Brands (AYI) and retailer Signet Jewelers (SIG) are out with quarterly earnings this morning ahead of the opening bell. (CNBC)


U.S. and Chinese officials negotiating a trade deal have resolved most of the outstanding issues but are still haggling over how to implement and enforce such an agreement, according a report from the Financial Times.

* Trump on closing the US-Mexico border: 'Security is more important to me than trade' (CNBC)

President Donald Trump "blasted" Federal Reserve Chairman Jerome Powell at three meetings in the past week, according to the Wall Street Journal. "I guess I'm stuck with you," the president told Powell, the journal said.

* Adultery, arrears and amends: Inside Trump Federal Reserve pick Stephen Moore's messy and very expensive divorce (CNBC)

The owner of a pro-Trump super PAC funded solely by billionaire bank executive Andrew Beal used more than $300,000 in donations to finance a conspiracy-theory-driven Facebook (FB) meme campaign to support Trump during the 2016 campaign. (CNBC)

* Here's what 2020 Democratic presidential candidates want to fund by reversing the Trump tax cuts (CNBC)

Voters in Chicago elected former federal prosecutor Lori Lightfoot to become their next mayor. The win by Lightfoot makes Chicago the largest city to elect an African-American woman as its top elected official. (USA Today)

The Wall Street Journal reported that pilots at the controls of the Boeing (BA) 737 MAX that crashed in March initially followed emergency procedures laid out by the company but still failed to recover control of the jet.

Ousted Nissan Motor boss Carlos Ghosn said today on Twitter (TWTR) that he was getting ready to tell the truth about recent events and that he would hold a news conference on Thursday, April 11. (Reuters)

The Food and Drug Administration has set its first public hearing on legalizing CBD in food and drinks, to figure out how to regulate the newly legalized cannabis product. The hearing will take place on May 31. (CNBC)

Blue Apron (APRN) CEO Bradley Dickerson is leaving the meal kit company. He'll be succeeded by former Etsy (ETSY) chief operating officer Linda Koslowski. Blue Apron's chief technology officer Ilia Papas, will also be departing. (WSJ)

Netflix (NFLX) is at the center of a warning letter sent to the Motion Picture Academy by the Justice Department about a proposed rule change. The proposal would require movies to be released more widely in theaters to be eligible for the Academy Awards. (CNBC)


GameStop (GME) reported adjusted quarterly earnings of $1.60 per share, beating consensus estimates by two cents. However, the videogame retailer's revenue fell short of Wall Street forecasts, and it warned of a potential loss for the current quarter amid slowing sales.

Commerzbank's board will decide next week whether to intensify merger talks with German rival Deutsche Bank (DB), according to published reports in Germany.

Swiss drug maker Roche said its planned $4.3 billion takeover of Spark Therapeutics (ONCE) is still on track, even though the deal is being scrutinized by US regulators and only 29.4 percent of Spark shareholders have voted to support the deal so far.

Toyota (TM) plans to offer royalty-free access to its hybrid-vehicle technology patents as early as this year, according to the Nikkei Asian Review.

PG&E (PCG) will name Tennessee Valley Authority CEO Bill Johnson as its new CEO as soon as today, according to Reuters. Separately, a judge ruled that the utility may not resume paying dividends, instead using that money to fund its plans to reduce the risk of California wildfires.

Intel (INTC) named Qualcomm chief financial officer George Davis as its new CFO. Intel CEO Bob Swan had vacated the CFO position when he was promoted to CEO at the semiconductor maker.

Dave & Buster's (PLAY) reported quarterly profit of 75 cents per share, 12 cents above estimates, and the restaurant chain's revenue also topped Wall Street forecasts. Comparable restaurant sales rose 2.9 percent, beating a consensus estimate of 2.1 percent.


Disney (DIS) and Marvel's widely-anticipated film "Avengers: Endgame" crushed Fandango's first-day U.S. sales record (previously held by "Star Wars: The Force Awakens") within the first six hours of presales. (CNBC)