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Morning Brief

What to watch today: Jobs Friday, Schultz not running, and Dorian's track

BY THE NUMBERS

U.S. stock futures were higher this morning, ahead of the government's 8:30 a.m. ET release of its monthly employment report. The August jobs data could influence what the Fed does later this month, when it's expected to cut interest rates again. Fed chief Jerome Powell speaks at 12:30pm ET. (CNBC)

* Investors starved for income may find it in their favorite place: tech stocks (CNBC)

The Dow, after surging 350 points Thursday as the U.S. and China agree to October trade talks, was on track for a second straight winning week, something that might have seemed unlikely after the holiday-shortened week began with a significant sell-off Tuesday. (CNBC)

* Cramer: Good economic and trade news caused a 'sea change' on Wall Street (CNBC)
* China's central bank cuts reserve ratio for banks as economy there stalls (CNBC)
* Fitch cuts Hong Kong's credit rating due to the pro-democracy protest unrest in the Chinese territory (CNBC)

Ray Dalio, the billionaire behind the world's largest hedge fund, said on "The David Rubenstein Show" there's about a 25% chance of a U.S. recession this year and next. Last month, the Bridgewater Associates' founder told CNBC he saw 40% odds of a recession.

* Mohamed El-Erian on the bond markets: 'If you stick with the old rules, you will lose' (CNBC)

IN THE NEWS TODAY

Former Starbucks CEO Howard Schultz said Friday that he will not make an independent run for president after exploring a third-party candidacy earlier this year. (CNBC)

Hurricane Dorian is lashing North Carolina and southeast Virginia with torrential rain, storm surge flooding, high winds and tornadoes. The storm is expected to brush of southeast New England tonight before slamming into Atlantic Canada this weekend. (weather.com)

* 'Everything is gone:' Bahamians struggle in Dorian's devastating wake (Reuters

An American Airlines mechanic has been arrested and charged with sabotaging an aircraft's navigation system before a flight in July, forcing the crew to abort takeoff from Miami, according to an affidavit filed in federal court. (CNBC)

Grubhub (GRUB) announced a new delivery partnership with McDonald's (MCD), which will make the fast-food chain's offerings available through the Grubhub and Seamless delivery services in 500 locations in New York City and in the Tri-State area. (CNBC)

Lululemon (LULU) reported a better than expected quarterly profit of 96 cents per share. Revenue also beat. The apparel maker's same-store sales jumped 15%. Results were boosted by strength in its menswear line. Lululemon also raised full-year guidance. (CNBC)

The Trump administration has released its first formal plan to overhaul the housing finance system and begin the process of removing Fannie Mae and Freddie Mac from government conservatorship, where they have been for the past 11 years. (CNBC)

STOCKS TO WATCH

Zoom Video Communications (ZM) reported quarterly profit of 8 cents per share, 7 cents above estimate. The videoconferencing company's revenue also topped expectations. Zoom increased its full-year forecast.

Crowdstrike (CRWD) reported a quarterly loss of 18 cents per share, 5 cents smaller than Wall Street had anticipated. The cybersecurity firm's revenue also beat. Crowdstrike raised its full-year outlook.

DocuSign (DOCU) reported adjusted quarterly profit of a penny per share, short of the 4-cent estimate. However, revenue did top estimates, and the provider of electronic signature technology also gave upbeat guidance.

WATERCOOLER

The Green Bay Packers opened the NFL's 100th season last night with a 10-3 road victory over the Chicago Bears. The league opted for nostalgia rather than having the Super Bowl champs host the first game. The New England Patriots are home against the Pittsburgh Steelers on Sunday night. (AP)

Grammy-nominated artist Nicki Minaj sent fans into a tailspin, tweeting that she's retiring. Minaj, 36, claimed on her Twitter that she's planning to retire in order to start a family. There's fan speculation that Minaj is pregnant. (NBC News)