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Morning Brief

Dow under pressure | Blackstone shares surge | Robert Mueller's report set

BY THE NUMBERS

Futures were lower this morning, signaling a possible end to three-week win streaks for the S&P 500 and Nasdaq. The S&P is down 0.2% for the week, while the Nasdaq is up 0.2%. The Dow is slightly higher for the week but could lose that gain at the open. (CNBC)

Blackstone (BX) shares surged 9.5% in pre-market trading after the investment firm announced it will become a corporation in July, shifting from its current status as a publicly-traded partnership. (CNBC)

Pinterest (PINS) begins trading today on the New York Stock Exchange after its initial public offering (IPO) priced at $19 per share, valuing the company at $10 billion. That was above the initially projected range of $15 to $17 per share. (CNBC)

Dow component Travelers (TRV) and Blackstone (BX) are among the companies reporting quarterly earnings this morning. Dow component American Express (AXP) and Intuitive Surgical (SRG) will report after today's closing bell. (CNBC)

On the data front, the government will issue March housing starts at 8:30 a.m. ET, with consensus forecasts calling for a 4.1 percent increase to an annual rate of 1.21 million units. Housing starts had fallen 8.7 percent in February. (CNBC)

IN THE NEWS TODAY

Attorney General William Barr will discuss special counsel Robert Mueller's report today at a 9:30 a.m. ET press conference. Deputy Attorney General Rod Rosenstein will accompany him, according to NBC News.

* The Mueller report is coming. Here's how we got here — and what's coming next (CNBC)

CNBC has learned Pete Buttigieg's presidential run has drawn the support of more than two dozen top Democratic fundraisers, including people who bundled big-dollar donations for Barack Obama and Hillary Clinton.

Facebook (FB) said last night it may have "unintentionally uploaded" the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. (CNBC)

Samsung's $1,980 Galaxy Fold phone is breaking for some users after a day or two of use. A review unit given to CNBC by Samsung is also completely unusable after just two days of use.

* Samsung shares tumble amid concerns its foldable phones are breaking (CNBC)

Amazon (AMZN) is shutting down its domestic e-commerce marketplace business in China. It has faced stiff competition from Chinese e-commerce giants Alibaba and JD.com. It's also been less visible in terms of marketing. (CNBC)

It may be entering its middle age, but there appears to be plenty of life left in Ford's (F) 55-year-old Mustang "pony car." Ford upped the power on iconic Mustang muscle car with new performance package at the New York auto show. (CNBC)

Canopy Growth (CGC) is near a deal to buy rival cannabis producer Acreage Holdings, according to sources who spoke to CNBC. The transaction could be announced as early as today.

Some 60 doctors, pharmacists and other licensed medical professionals in five states are being charged in connection with illegally prescribing more than 32 million pain pills, in some cases for sexual favors, federal prosecutors said. (CNBC)

STOCKS TO WATCH

Zoom Video Communications (ZM) will debut today on the Nasdaq after its initial public offering priced at $36 per share.

Las Vegas Sands (LVS) reported adjusted quarterly profit of 91 cents per share, beating estimates by four cents, while the casino operator's revenue came in above forecasts as well. The company's results were helped by strong growth in Macau, the world's largest gambling market.

JPMorgan Chase (JPM) Chief Financial Officer Marianne Lake is leaving that job to lead the bank's consumer lending unit, while JPM's current card services CEO Jennifer Piepszak will step into the CFO role.

TSMC (TSM) reported its biggest profit decline in more than seven years during the first quarter. The world's largest contract chipmaker earned just under $2 billion, nearly 32 percent less than a year earlier.

Funds operated by T. Rowe Price slashed their holdings in Tesla (TSLA) during the first quarter, according to data from Refinitiv. The funds sold off 92 percent of their stock in the automaker during the quarter.

Pier 1 Imports (PIR) reported a bigger-than-expected loss during its fiscal fourth quarter, as well as lower-than-expected revenue and a 13.7 percent decline in same-store sales. Additionally, Chief Financial Officer Nancy Walsh is leaving the home furnishings retailer after being in that job for less than a year.

E*Trade Financial (ETFC) earned $1.09 per share for its latest quarter, beating the consensus estimate of 93 cents. The online brokerage also reported 135,000 new accounts during the quarter, a 41 percent jump in new account adds compared to the same quarter a year earlier.