| What to watch today: Bond yields hit stocks, possible opioid deal, and China spies use LinkedIn |
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WED, AUG 28, 2019
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AS OF WED, AUG 28, 2019 • 06:37 ET
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Dow Jones Fut |
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25,777.90 |
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Current: |
25,774.00 |
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Change: |
30.00 |
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Impl. Open: |
8.10 |
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S&P 500 Fut |
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2,869.16 |
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Current: |
2,870.25 |
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Change: |
4.75 |
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Impl. Open: |
1.14 |
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NASDAQ 100 Fut |
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7,566.03 |
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Current: |
7,572.75 |
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Change: |
10.00 |
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Impl. Open: |
1.72 |
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Russell 2000 Mini |
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1,456.04 |
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Current: |
1,456.30 |
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Change: |
1.60 |
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Impl. Open: |
.01 |
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Sterling fell against the dollar this morning after U.K. Prime Minister Boris Johnson said he would schedule the formal reopening of parliament for Oct. 14, a highly-controversial move that would restrict parliamentary time before the Brexit deadline and increase the chances of the U.K. leaving the EU with no deal. (CNBC)
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On today's U.S. economic calendar, the Mortgage Bankers Association is out with its weekly look at mortgage applications at 7 a.m. ET, while the Energy Department issues its weekly report on oil and gasoline inventories at 10:30 a.m. ET. (CNBC)
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Luxury goods retailer Tiffany (TIF), spirits maker Brown-Forman (BF.B), clothing retailer Chico's FAS (CHS), and watch maker Movado Group (MOV) are out with quarterly earnings this morning. H&R Block (HRB), Box (BOX), Five Below (FIVE), Guess (GES), Okta (OKTA), PVH (PVH), and Williams-Sonoma (WSM) issue quarterly reports after today's closing bell.
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Purdue Pharma and its owners, the Sackler family, are offering to settle more than 2,000 lawsuits against the company for up to $12 billion. Lawsuits against the company and the Sackler family say they are responsible for starting and sustaining the opioid crisis.The potential deal was discussed by Purdue's lawyers at a meeting, NBC News reported.
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President Donald Trump's longtime bank revealed it has tax records Congress is seeking in its investigation of the president's finances. Deutsche Bank (DB) said in court papers it has tax returns responsive to a subpoena sent this year, in which Congress asked the bank for a host of documents related to Trump and his family. (AP)
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Peloton, best known for at-home fitness equipment and accompanying streaming fitness services, revealed growing sales but widening losses ahead of its IPO, in documents filed with regulators. The fitness company expects to raise $500 million in its offering. (CNBC)
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SpaceX flew its prototype rocket many times higher and longer than ever before in a test, pushing the company one step closer to its dream of sending humans and cargo to Mars. The company is building the enormous rocket to achieve its goal of transporting up to 100 people in the space flights. (CNBC)
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Toyota Motor (TM) said it would form a capital alliance with fellow Japanese automaker Suzuki, to help accelerate technological development. Toyota will take a 4.9% stake in Suzuki as part of the deal, while Suzuki will receive around 0.2% or Toyota's outstanding shares.
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Intel (INTC) and its private equity partners may list cybersecurity company McAfee this fall at a valuation of at least $8 billion, according to a Bloomberg report.
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Hershey (HSY) is buying nutrition bar maker ONE Brands in a deal worth about $325 million, complementing its existing Oatmega nutrition bar business. Hershey expects to complete the deal by the fourth quarter of this year.
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Papa John's (PZZA) was upgraded to "buy" from "hold" at Stifel Nicolaus, which points to the naming of former Arby's President Rob Lynch as its new Chief Executive Officer. Stifel also raised its price target on the pizza chain's stock to $60 per share from $42.
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Popeyes Louisiana Kitchen said it has sold out of its inventory of its new chicken sandwich. But the sandwich, launched Aug. 12, will back soon and for good. Popeyes have been selling out of it after a Twitter feud between Chick-fil-A. Popeyes' parent company Canada's Restaurant Brands also owns Burger King and Tim Hortons. (CNBC)
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