Morning Brief

What to watch today: Stocks to rise, Buttigieg breaks out and issues with Boeing's Starliner



U.S. stock futures were higher this morning after record closes for the Dow, S&P 500 and Nasdaq. With Thursday's gains, the major averages are all on track for a positive week, with the S&P 500 set to chalk up its fourth straight weekly gain. The Nasdaq has a seven-day win streak going, its longest in 10 months, while the Dow and S&P 500 have been up in six of the past seven sessions. (CNBC)

* Cashin, who got much of 2019 right, gives his predictions for the new year (CNBC)

On today's economic calendar, the government issues its final revision of third quarter GDP at 8:30 a.m. ET. November personal income and consumer spending numbers are out at 10 a.m. ET. The Fed's favorite inflation measure, the core personal consumption expenditures price index, is also released at 10 a.m. ET. (CNBC)

BlackBerry (BB), CarMax (KMX), Carnival (CCL) and Winnebago (WGO) are out with quarterly earnings before today's opening bell. No earnings reports are scheduled for this afternoon. (CNBC)

Boeing's (BA) spacecraft Starliner did not achieve the proper orbit it needed to reach the International Space Station, shortly after the capsule launched from Florida early Friday morning. "Starliner in stable orbit. The burn needed for a rendezvous with the ISS did not happen. Working the issue," NASA said. (CNBC)

Nike (NKE) reported quarterly earnings and sales that beat  expectations, as more customers flocked to its stores for limited-edition Jordan sneakers and ordered athletic apparel from its website. Though shares fell in premarket trading, as North American sales growth was weaker than expected. (CNBC)

Happy holidays from us here at "Morning Squawk." We'll be back in your inbox bright and early on Dec. 26.


Missed last night's Democratic presidential debate? Mayor Pete Buttigieg finally got the top-tier treatment during the Democratic presidential debate hosted in LA, and Sen. Amy Klobuchar found the spotlight. Klobuchar has trailed Buttigieg in national polls for months. Both have carved out more moderate positions than candidates such as Sens. Elizabeth Warren or Bernie Sanders and are viewed as direct competitors in races like the Iowa caucus. (CNBC)

* Democratic candidates sound off on Trump impeachment (CNBC)
* Biden picks up support from influential Wall Street fundraisers Marc Lasry and Blair Effron, who backed Obama and Clinton (CNBC)

Sen. Elizabeth Warren, being asked at the Democratic presidential primary debate about economists who say her ambitious wealth tax plan "would stifle growth and investment," shot down critics. "Oh — they're just wrong," Warren responded. (CNBC)

Sanders and Klobuchar divided on the United States-Mexico-Canada Agreement that will soon come to a vote in the Senate after the House of Representatives approved the measure late Thursday. After the debate, a Warren surrogate said the senator has not come to a final decision on how she will vote on the deal. (CNBC)

Senate passes spending bills to avoid a government shutdown, sending them to Trump (CNBC)

British Prime Minister Boris Johnson will test out his new parliamentary majority today by putting his Brexit bill to a new vote in the House of Commons. It would then require further debate in both chambers early next year, and, if passed into law, it would mean that the U.K. would leave the EU on Jan. 31, three-and-a-half years after the 2016 referendum. (CNBC)

* Andrew Bailey selected to replace Mark Carney as governor of the Bank of England (CNBC)

The U.S. is closely watching North Korea for signs of a possible missile launch or nuclear test in the coming days that officials are referring to as a "Christmas surprise." It would be a major blow to one of the Trump administration's major foreign policy initiatives: the drive to get North Korea back to negotiations to eliminate its nuclear weapons and missiles. (AP)

The Trump administration is proposing a new rule that would deny asylum to migrants who have been convicted of misdemeanors like possession of marijuana. Convictions related to domestic violence could also make migrants ineligible. The administration said it will have a 30-day comment period on the proposal before the law will likely take effect. (CNBC)

France's competition authority fined Google (GOOGL) $167 million for anti-competitive behavior and for having unclear advertising on the Google Ads page. The fine comes as European countries maintain high levels of scrutiny on major U.S. tech companies such as Facebook (FB), Apple (AAPL) and Amazon (AMZN), which are often criticized for having relatively low tax payments. (Reuters)

Facebook (FB) experienced a data breach that exposed personal data from more than 267 million users, according to cybersecurity experts. Facebook said it is investigating, but added that it appears the exposed data was from a period of time before new security improvements implemented over the past few years. (Engagdet)

Royal Dutch Shell (RDS.A) said today it expects to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook. In a trading update ahead of full year results, Shell also said it expected weaker margins in its refining, trading and marketing division while maintaining spending on the lower end of forecasts amid slowing demand for oil and gas. (Reuters)


Biogen (BIIB) announced a $5 billion stock buyback program. The drug company said the new buyback is in addition to a program previously authorized in March.

Scholastic Corp. (SCHL) reported adjusted quarterly profit of $2.06 per share, beating the consensus estimate of $1.77, with the children's book publisher also seeing revenue beat forecasts. Its results got a boost from growth in the company's book fairs business.

Michaels Companies (MIK) was downgraded to "underweight" from "equal-weight" at Morgan Stanley, which said the arts and crafts retailer faces challenges to revenue growth and profit margins. It also cut its price target on the stock to $5 per share from $7.


"Cats" seemed to have it all, a stellar cast, memorable music from a Tony Award-winning Broadway show and the careful guidance of acclaimed director Tom Hooper. But as of midday Thursday, the film holds a 17% "Rotten" score on review site Rotten Tomatoes. (CNBC)