Morning Brief

Dow under pressure | China trade talks in 'final laps' | 'Endgame' hauls in $1.2 billion

BY THE NUMBERS

U.S. stock futures were lower this morning as investors assessed developments in U.S.-China trade talks, with Treasury Secretary Steven Mnuchin saying negotiations are in the "final laps." On Friday, the S&P 500 and Nasdaq posted new record closes. The Dow also gained ground Friday, finishing about 1% away from its October closing high. (CNBC)

Dow stock Boeing (BA) was under pressure this morning after news that the aircraft maker waited until after the Lion Air crash to tell Southwest Airlines (LUV) that a safety alert was turned off on the new 737 Max jets, which remain grounded. (CNBC)

Boeing CEO faces shareholders today for first time since 737 Max crashes (Reuters)

Disney (DIS), another Dow component, saw its shares rising in the premarket after "Avengers: Endgame" hauled in more than $1.2 billion at the global box office, shattering the previous record total of $641 million set by "Avengers: Infinity War." (CNBC)

* JP Morgan says buy Disney after blowout open for 'Avengers: Endgame' (CNBC)

Earnings remain a key focus for investors, with Google-parent Alphabet (GOOGL) coming after-the-bell today and Apple (AAPL) late tomorrow. On the data front, personal income and consumer spending figures are out released at 8:30 a.m. ET this morning. (CNBC)

'Biggest bear' on Target upgrades the stock, says shares to rally nearly 50% (CNBC)

IN THE NEWS TODAY

President Donald Trump's attempt to revamp North America's trade rules, or NAFTA, is hitting a roadblock as Democrats and labor groups demand changes. The chance of a deal before next year's election is dimming. (WSJ)

Attorney General William Barr is threatening not to testify before the House Judiciary Committee this week because of concerns about the hearing's format, a senior Democratic aide on the committee has told NBC News.

Democratic presidential contender Pete Buttigieg, the mayor of South Bend, Indiana, will return thousands of dollars donated to his campaign by registered federal lobbyists and will not accept such contributions any longer. (CNBC)

Bart Chilton, a former commissioner of the U.S. Commodity Futures Trading Commission and advocate for cryptocurrency regulation, has died after complications with pancreatic cancer. He was 58. (CNBC)

Richard Lugar, longtime GOP senator who helped create a program to destroy surplus nuclear weapons, dies at 87 (NY Times)

Tesla (TSLA) CEO Elon Musk has reached an agreement with the Securities and Exchange Commission over his use of Twitter, according to an amended filing in the U.S. District Court of the Southern District of New York. (CNBC)

* Rebel Tesla rebuilder with a popular YouTube channel is now opening a shop to fix cars Tesla can't service (CNBC)

Infertility treatment is burying families in debt as they choose to have children later in life. On average it costs $50,000 to conceive a child through in vitro fertilization and most Americans don't have the insurance to cover it. (CNBC)

STOCKS TO WATCH

Spotify (SPOT) reported a better-than-expected rise in first-quarter revenue as the music streaming company hit 100 million paid subscribers for its premium service.

Restaurant Brands International (QSR), parent company of Burger King, Tim Hortons, and Popeyes, reported quarterly earnings that fell short of expectations, However, revenue best estimates.

Anadarko Petroleum (APC), the company that agreed to sell itself to Chevron (CVX) for $33 billion, decided to begin negotiations to sell itself to Occidental Petroleum (OXY) instead, Reuters reported, citing sources.

Deutsche Bank upgraded American Airlines (AAL) to buy from a hold, saying a resetting of expectations by management essentially establishes a "floor" for the company's share price and provides it "a bit more 'cushion.'"

CVS Health (CVS) was downgraded to "neutral" from "outpeform" with a price target of $61. Credit Suisse's A.J. Rice said the company faces a "transitional year" as it tries to drive changes in health care.

WATERCOOLER

Airbnb is partnering with a major New York real estate developer to convert portions of New York City commercial properties into a "new category of urban lodging." This is Airbnb's biggest move into the traditional hotel space. (CNBC)