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What to watch today: Dow to rise, Hong Kong bows to protesters, and NRA slams Walmart

BY THE NUMBERS

The Dow, a day after losing 285 points and breaking a three-session winning streak, was set to advance about 200 points at the Wednesday open on Wall Street. Tuesday concern over new U.S. and China tariffs abated today as Hong Kong conceded to a key demand of pro-democracy protesters. (CNBC)

Year-end targets for S&P 500 are all over the place from down 5% to up 11% (CNBC)

Hong stocks soared nearly 4% overnight, on word the city's leader planned to formally withdraw a contentious extradition bill that's sparked months of sometimes violent demonstrations. Early Wednesday, the measure was officially abandoned. (CNBC)

* Cathay Pacific Airways chairman resigns after CEO's August departure over staff participation in Hong Kong protests (Reuters)
* Trump was so angry after China's trade retaliation last month that he wanted to double tariffs (CNBC)

The British pound was moving higher, after parliament opened the door for another Brexit delay. The move sets up another vote Wednesday on whether to block the government from proceeding with a no-deal departure from the European Union trading bloc on Oct. 31. (CNBC)

The U.S. government releases July trade imbalance figures at 8:30 a.m. ET. The Fed, at 2 p.m. ET, releases its latest Beige Book region-by-region look at economy. American Eagle (AEO), Michaels (MIK), and Vera Bradley (VRA) issue earnings this morning. Quarterly results from Cloudera (CLDR) and Slack (WORK) are out after the bell. (CNBC)

Weekly mortgage refinances fall further, despite lower interest rates (CNBC)
* Uber and Lyft close at record lows as investors lose faith in the ride-hailing firms (CNBC)

IN THE NEWS TODAY

Hurricane Dorian was on the move along the U.S. coastline this morning, drenching the east coast of central Florida and taking aim at the Carolinas. The slow-moving storm devastated parts of the Bahamas where it killed at least seven people. (NBC News)

* Satellite photos show much of the Bahamas underwater after Dorian (CNBC)

The NRA slams Walmart (WMT) over plans to end sales of handgun ammunition and discourage openly carrying guns in states where it's allowed. Walmart's moves follow recent deadly mass shootings at two of its Texas locations. (CNBC)

* Kroger joins Walmart in asking shoppers not to openly carry guns in stores (CNBC)

Democratic presidential hopeful Pete Buttigieg unveiled a $1.1 trillion climate change plan this morning, with a goal of reaching net-zero emissions by 2050 and creating over three million clean energy and infrastructure jobs in the next decade. (CNBC)

* 2020 Democratic candidate Kamala Harris releases $10 trillion climate change plan (NY Times)

Sen. Ron Wyden, a Democrat from Oregon, suggested that Facebook co-founder and chief Mark Zuckerberg should face a prison term for lying to American citizens about the social network's privacy lapses. In July, the FTC fined Facebook $5 billion. (CNBC)

* Alphabet's legal chief, already in hot water over past relationship, marries an employee (CNBC)

Amazon (AMZN) is testing a biometric payment system that charges users by scanning their hands, according to the New York Post. Amazon would reportedly introduce the technology at some of its Whole Foods stores by the beginning of 2020.

Apple (AAPL) plans to introduce a cheap new iPhone next spring to address declining market share, according to Japan's Nikkei news service. The phone, reportedly a successor to the iPhone SE, comes as the U.S. tech giant saw two straight quarters of shipment declines.

WeWork co-founder and CEO Adam Neumann has returned around $5.9 million worth of stock to the company, which he had originally received in exchange for the "we" trademarks, according to an amended IPO registration. (Axios)

STOCKS TO WATCH

Tapestry (TPR), the Coach and Kate Spade parent, named Chairman Jide Zeitlin as its new CEO. He succeeds Victor Luis, who had been CEO for 13 years. Zeitlin remains as chairman in addition to assuming CEO duties.

Tyson Foods (TSN) cut its full-year earnings forecast to $5.30 to $5.70 per share, compared to estimates of $5.94. The poultry and beef producer cites the impact of a recent fire at a key factory as well as commodity market volatility.

Hedge fund Starboard Value disclosed a 7.5% stake in Box (BOX), calling shares "undervalued." Starboard, now the second largest shareholder behind Vanguard, said it may talk to the cloud service provider about exploring a potential sale.

Realty Income (O) announced the acquisition of 454 single-tenant properties from CIM Real Estate for about $1.25 billion in cash. The real estate investment trust also raised its outlook.

WATERCOOLER

Ariana Grande is suing Forever 21, claiming the retailer used a look-alike model to promote its products. The pop star, who declined to work with Forever 21, is seeking at least $10 million in damages. The embattled retailer is considering filing for bankruptcy. (CNBC)

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