Morning Brief

What to watch today: Whistleblower report's release, UAW-GM could soon end strike


U.S. stock futures were pointing to a higher open, after President Donald Trump said a U.S.-China trade deal could arrive sooner than expected. The S&P 500 and Nasdaq broke three-day losing streaks Wednesday. The Dow more than erased its Tuesday losses with yesterday's rally. But the S&P 500 and Nasdaq only partially made up for Tuesday's declines. (CNBC)

On the economic data front, the Labor Department is out with its weekly report on initial jobless claims at 8:30 a.m. ET. At the same time, the government releases its third reading of second quarter GDP. The National Association of Realtors issues pending home sales for August at 10 a.m. ET. Rite Aid (RAD) will be reporting quarterly earnings before the bell. Micron (MU) follows after the bell. (CNBC)

There will be no lack of Fed commentary today, with St. Louis Fed President James Bullard, Dallas Fed President Robert Kaplan, Fed Vice Chairman Richard Clarida, Minneapolis Fed President Neel Kashkari, and Richmond Fed President Tom Barkin all making public appearances.

At-home fitness company Peloton Interactive priced its IPO at $29 a share, the top of its original range between $26 and $29, and expects to debut on the Nasdaq today. 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. (CNBC)

Peloton's CEO, on IPO day, takes CNBC into their live streaming classes control room 

The opening hour of "Squawk on the Street" is now a podcast. Listen to market-moving news and interviews on the go. Got any questions, comments or ideas for us here at "Morning Squawk?" Email


The whistleblower complaint that reportedly centers on Trump and his interactions with Ukraine has been declassified and is expected to be released this morning. The complaint was released to Congress yesterday, and Democrats who read it described it as containing important new information, NBC News reported.

* Investors bet on a Clinton-like market rally if House impeaches Trump (CNBC)

Trump's top intelligence official will be grilled by lawmakers today over the administration's handling of the whistleblower report central to an impeachment inquiry into Trump. Acting director of national intelligence, Joseph Maguire, will testify to the House Intelligence Committee after refusing to share the complaint with Congress. (Reuters)

China's government said today importers have agreed to buy American soybeans and pork "of considerable scale." The announcement comes as the two sides make conciliatory gestures ahead of talks next month aimed at ending a costly tariff war with Trump over trade and technology. (AP)

The U.S. and Japan outlined initial details of a trade deal as they iron out a broader agreement. The first stage of the accord will open markets up to about $7 billion in U.S. agricultural products, and Japan will reduce or eliminate some tariffs. (CNBC)

* For US beef exporters, Japan trade deal levels playing field but sales surge unlikely (Reuters)

The United Auto Workers union and General Motors (GM) are closing in on a tentative agreement that could soon end the union's ongoing strike against the automaker. 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, now at 11 days. (CNBC)

The Justice Department will open an antitrust investigation of Facebook (FB), Reuters reported. It'll be the fourth recent antitrust probe of the social media giant, as it's facing probes by the Federal Trade Commission, a group of state attorneys general and the House Judiciary Committee.

* Match Group stock slides after FTC sues the company for placing fake ads on its site (CNBC)

SoftBank is planning to pump an extra $1 billion or more into WeWork by renegotiating a warrant agreement struck before falling valuations delayed the U.S. office-sharing startup's IPO, the Financial Times reported. The plan would increase the firm's initially planned investment of $1.5 billion in WeWork as part of the agreement. (Reuters)

Huawei CEO Ren Zhengfei said today the company is willing to license its 5G mobile technology to a U.S. firm, as it seeks to alleviate security concerns over its products. Huawei, the world's largest telecoms gear maker, has been on a U.S. trade blacklist since May over concerns that its equipment could be used by Beijing to spy, which Huawei denies. (Reuters)

Georgia and Florida health officials have both reported their first vaping-related deaths, bringing the total number of U.S. fatalities from a lung disease that resembles a rare form of pneumonia to at least 11. The mysterious lung disease related to vaping has sickened at least 530 people across the U.S., with hundreds of new cases reported in recent days. (CNBC)

* What we know (and don't) about Juul, teen vaping and illness (AP)

Walmart's Sam's Club is teaming up with several health care companies to offer discounts on everyday care its customers might delay or skip because of the cost. Starting early October, Sam's Club members in Michigan, Pennsylvania and North Carolina, will be able to buy one of four bundles of health care services. (AP)


Lululemon (LULU) plans to wind down its Iviwa kids business and close the seven remaining stores. Executive VP Celeste Burgoyne told CNBC the move is being made in an effort to unlock more capacity to support the apparel maker's long term growth.

Intel (INTC) lead independent director Aneel Bhusri is resigning from the chipmaker's board at the end of October, according to an SEC filing. Medtronic (MDT) CEO Omar Ishrak will succeed Bhusri in that capacity.

Whirlpool (WHR) was upgraded to "overweight" from "neutral" at JPMorgan Chase, which expects appliance industry shipments to stabilize this year and show modest growth in 2020. It also points to an inexpensive valuation for the stock.

Square (SQ) was upgraded to "outperform" from "market perform" at Wells Fargo, which said the mobile payments company's fundamentals remain strong and that investor sentiment is overly negative.

H.B. Fuller (FUL) fell short of forecasts with adjusted quarterly earnings and revenue. It also announced plans to consolidate its five business units into three.


Kevin Feige, the man behind Disney's expansive Marvel Cinematic Universe, is getting a chance to develop his own Star Wars film. The media giant already has two Star Wars trilogies in the works. One will be penned by "The Last Jedi" director Rian Johnson and one from the showrunners behind "Game of Thrones." (CNBC)