| Stocks under pressure | Trump cuts summit short | GDP data set |
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THU, FEB 28, 2019
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AS OF THU, FEB 28, 2019 • 06:47 ET
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Dow Jones Fut |
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25,985.16 |
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Current: |
25,954.00 |
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Change: |
-54.00 |
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Impl. Open: |
-29.16 |
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S&P 500 Fut |
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2,792.38 |
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Current: |
2,787.50 |
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Change: |
-7.50 |
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Impl. Open: |
-5.13 |
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NASDAQ 100 Fut |
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7,117.00 |
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Current: |
7,092.75 |
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Change: |
-29.00 |
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Impl. Open: |
-28.25 |
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Russell 2000 Mini |
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1,581.05 |
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Current: |
1,578.10 |
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Change: |
-4.00 |
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Impl. Open: |
-3.45 |
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Fed Vice Chairman Richard Clarida, Atlanta Fed President Raphael Bostic, Philadelphia Fed President Patrick Harker, and Dallas Fed President Robert Kaplan all have public appearances during the trading day. Cleveland Fed President Loretta Mester and Fed Chairman Jay Powell attend events that take place after the market close. (CNBC)
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President Donald Trump said he cut short his nuclear summit with North Korean leader Kim Jong Un because the two sides could not agree on sanctions . A previously planned joint signing ceremony was cancelled. (CNBC)
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Former Vice President Joe Biden has been receiving regular briefings from executives at digital and social media companies in order to learn strategies for appealing to young voters if he were to run for president again. (CNBC)
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A political firestorm surrounding Canadian Prime Minister Justin Trudeau has became more damaging.Trudeau's former justice minister accused his top aides of pressuring her to drop the prosecution of a global engineering firm. (WSJ)
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Southwest Airlines (LUV) got approval from the Federal Aviation Administration to fly to Hawaii from the West Coast. It had to show regulators its ability to fly its jets over water for extended periods of time away from diversion airports. (CNBC)
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The Food and Drug Administration will hold its first public hearings on CBD in April as the agency weighs rules allowing companies to add the popular cannabis-based compound to food, Commissioner Scott Gottlieb announced. (CNBC)
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Celgene (CELG) shares are under pressure after major Bristol-Myers Squibb (BMY) shareholder Wellington Management said it would not support the acquisition. Wellington said it thinks Bristol-Myers shareholders are accepting too much risk and that Celgene shareholders are getting the drug maker's shares at well below implied asset value. Bristol-Myers said it believed the acquisition was taking place at an attractive price, and that it was an important opportunity to create sustainable value.
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HP Inc. (HPQ) earned an adjusted 52 cents per share for its latest quarter, matching Wall Street forecasts. However, the computer and printer maker did see revenue miss estimates amid weakness in printer supply sales. HP said its market share and pricing for those supplies came under pressure during the quarter.
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Box (BOX) reported adjusted quarterly profit of six cents per share, beating the consensus estimate of two cents. The cloud storage firm, however, did see revenue fall below forecasts, as was its forward guidance.
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Square (SQ) beat estimates by a penny with adjusted quarterly earnings of 14 cents per share, while the digital payment company's revenue also beat forecasts. However, Square's current quarter outlook is below some analyst forecasts.
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Booking Holdings (BKNG) earned $22.49 per share for its latest quarter, compared to a consensus estimate of $19.42. The operator of Priceline and other travel websites did see revenue fall below estimates, and its current quarter guidance was below consensus as well.
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L Brands (LB) came in seven cents above estimates with adjusted quarterly profit of $2.14 per share, while the fashion retailer's revenue fell below forecasts on declining sales at its Victoria's Secret brand. IT also issued weaker than expected full year guidance.
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Tesla (TSLA) was designated as a "Fresh Pick" at Baird, which also reiterated an "outperform" rating. Baird said pessimism on Model 3 demand is overblown, and that weak Q1 delivery expectations are already priced into the stock.
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Fitbit (FIT) earned 14 cents per share for the fourth-quarter, double what Wall Street was expecting, and the fitness device maker's revenue also beat estimates. However, revenue and profit guidance for the current quarter is weaker than expected, with Fitbit saying it expected an increase in devices sold but a decline in the average selling price.
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Smartphone innovation has plateaued in offering must-have features, so consumers aren't spending lots of money to upgrade anymore. The Galaxy S10+ is no exception. CNBC's Todd Haselton reviews the Samsung Galaxy S10+.
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