U.S. stock futures were pointing to a higher Thursday open on Wall Street, after President Donald Trump said on Wednesday that a U.S.-China trade deal could arrive sooner than expected. The S&P 500 and Nasdaq broke three-session losing streaks Wednesday. The Dow Jones Industrial Average's rally more than erased Tuesday's decline. However, the S&P 500 and Nasdaq only partially made up for Tuesday's drops.
The whistleblower complaint that reportedly centers on Trump and his interactions with Ukraine has been declassified, sources familiar with the matter told NBC News on Wednesday night. The complaint, which the administration initially withheld from Congress, was declassified with what were described as minimal redactions, the sources said, and there is an expectation that it will be released Thursday morning. According to a White House memo on the July phone call at the center of the whistleblower complaint, Trump asked Ukraine President Volodymyr Zelensky to "look into" former Vice President Joe Biden and his son Hunter.
Stocks so far are shrugging off risks that Trump could be impeached. Investors may be betting that if he is, the market will ultimately rally, the way it did in the Clinton era. The House could impeach Trump, as it did Bill Clinton, but it is unlikely the Senate will go along with it. On Tuesday, House Speaker Nancy Pelosi announced that the House would investigate impeaching Trump in the wake of the Zelensky call.
The United Auto Workers and General Motors are closing in on a tentative agreement that could soon end the union's ongoing strike against the automaker. Negotiators have been meeting daily since before the work stoppage began on Sept. 16. However, talks between the union and GM have intensified in the past two days, according to two people familiar with the negotiations. It is the union's first national strike against the automaker since a two-day work stoppage in 2007 and the longest national strike since the 1970s.
At-home fitness company Peloton prepares to make its stock market debut on Thursday, under the ticker symbol PTON on the Nasdaq. Peloton priced its initial public offering at $29 per share, the top of its original range between $26 and $29. The offering raises $1.16 billion and values the digital fitness company at $8.1 billion. Peloton sold 40 million Class A shares, in line with original projections. CEO and co-founder John Foley brought "Squawk Box" co-host Andrew Ross Sorkin into Peloton's live streaming classes control room at Tread Studio in New York City.