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What to watch today: Dow to soar; China wants to talk trade; and another 2020 Dem drops out

BY THE NUMBERS

Falling yields and the U.S.-China trade dispute haven't disappeared, but concern over them apparently has, at least temporarily. U.S. stock futures were pointing to a strong open on Wall Street, following gains yesterday, after China said it wished to resolve its protracted trade dispute with the world's largest economy with a "calm" attitude. The Wednesday advance put the Dow on track for its strongest weekly gain in 10 weeks, and the Dow, S&P 500, and Nasdaq are all on pace to break a string of four consecutive losing weeks. (CNBC)

* Why record low bond yields could keep heading lower as market fears 'disaster scenario' (CNBC)
* Chip industry is facing 'major uncertainty' as global tensions rise (CNBC)

On today's economic calendar, the government releases its second reading of second-quarter GDP at 8:30 a.m. ET. At the same time, the Labor Department is out with its weekly look at initial jobless claims.The National Association of Realtors issues its July report on pending home sales at 10 a.m. ET. (CNBC)

Retailers Best Buy (BBY), Abercrombie & Fitch (ANF), Dollar General (DG), and Dollar Tree (DLTR) are out with quarterly earnings this morning, along with poultry producer Sanderson Farms (SAFM). This afternoon, Ambarella (AMBA), American Outdoor Brands (AOBC), Dell Technologies (DELL), Ulta Beauty (ULTA), and Workday (WDAY) release quarterly numbers after today's closing bell. (CNBC)

IN THE NEWS TODAY

China sent a fresh batch of troops into Hong Kong today, and its military issued a statement saying its Hong Kong Garrison will "resolutely follow" the central government's instructions. It came as the Asian financial center continues to grapple with weeks of pro-democracy protests, that sometimes turned violent. (CNBC)

* With Hong Kong in turmoil, questions grow over refusal to offer concessions (Washington Post)

A public petition against U.K. Prime Minister Boris Johnson's suspension of parliament passed the 1 million signature milestone within its first 24 hours as protests broke out across the country. The queen yesterday approved Johnson's plan to suspend parliament from Sept. 9 to Oct. 14. (CNBC)

Hurricane Dorian took aim at the Florida coast early today. Dorian sideswiped the Caribbean sparing Puerto Rico and the Virgin Islands with only limited damage. However, with the storm strengthening, the Bahamas and Turks and Caicos Islands lay in its path. (Reuters)

The Trump administration is reportedly set to announce today it's rolling back regulation of methane emissions, a major contributor to climate change. The EPA is looking to eliminate requirements to inspect for and repair methane leaks from wells, pipelines and storage facilities. (NY Times)

Some children born to U.S. citizens stationed abroad as government employees or members of the U.S. military will no longer qualify for automatic American citizenship under a policy change unveiled by the Trump administration. Effective Oct. 29, certain parents serving overseas must go through a formal application process. (Reuters)

Sen. Kirsten Gillibrand, D-N.Y., has dropped out of the 2020 presidential race, ending a campaign weighed down by fundraising problems and a lack of public support. Gillibrand's decision to drop out of the race comes after she failed to qualify for the third Democratic debate on Sept. 12. (CNBC)

* 10 Democrats set for next debate as several others miss cut (AP)
* Bernie Sanders' $16.3 trillion climate plan sets the tone on a crucial issue in the Democratic primary (CNBC)
* Wealthy former Hillary Clinton donor Stephen Rosenberg is using secret shell company to back Trump (CNBC)

Federal agents raided United Auto Workers President Gary Jones's home as the Justice Department expands its probe of corruption in the union's top ranks while Detroit automakers renegotiate labor contracts for 158,000 employees. (CNBC)

* How Amazon's shipping empire is challenging UPS and FedEx (WSJ)

Apparel retailer Forever 21 is considering filing for bankruptcy as efforts to restructure its debt run dry. It could not be immediately determined whether the company has begun to raise a so-called debtor-in-possession loan that would fund a potential bankruptcy, and it is still possible the company is able to avoid a filing. (CNBC)

Walt Disney's (DIS) projections for its Disney+ streaming service may have been too modest, after 43% of households responding to a UBS survey said they intended to subscribe to the service. Disney's own projections have predicting 20% to 30% of households would subscribe by 2024. (Yahoo Finance)

Elon Musk, who runs Tesla and SpaceX, said that computers are getting smarter than humans in more and more spheres and that the trend will continue. "We will be far, far surpassed in every single way. I guarantee it," said Musk, who has repeatedly warned about the dangers of artificial intelligence. (CNBC)

STOCKS TO WATCH

Williams-Sonoma (WSM) reported better-than-expected adjusted quarterly earnings and revenue. Comparable store sales were up 6.5%, nearly double the 3.3% consensus estimate of analysts surveyed by Refinitiv. The company also raised its full-year guidance.

PVH (PVH) beat estimates with adjusted quarterly earnings and revenue. However, the company behind clothing brands like Calvin Klein also cut its full year profit forecast for the second time this year, with results coming under pressure from the U.S.-China trade dispute and unrest in Hong Kong.

Guess (GES) exceeded Wall Street forecasts with its adjusted quarterly profit and revenue. The company credits stronger sales and improved expense management, among other factors.

WATERCOOLER

If you're planning a getaway for Labor Day weekend, brace yourself for some heavy traffic. Today from 4 p.m. to 6 p.m. will be the worst day and time to hit the road as people look to get a head start on the long weekend. Tomorrow afternoon, especially from 1 p.m. to 4 p.m., for those on their way out of town, and Monday morning, 7 a.m. to 10 a.m., when people start return trips, will also be congested. (USA Today)