BY THE NUMBERS

U.S. inventory futures spiked this morning after a draft Brexit deal was struck between the European Union and the U.Okay. The Dow and S&P 500 are on monitor for a second straight optimistic week, with the Nasdaq aiming for a 3rd consecutive weekly acquire. All stay optimistic for October after erasing the month’s losses earlier this week, and the Dow managed to barely maintain onto the 27,000 degree regardless of its Wednesday drop. (CNBC)

On immediately’s economic calendar, the Labor Division is out with its weekly have a look at preliminary jobless claims at 8:30 a.m. ET. On the similar time, the federal government will subject September housing begins and constructing permits figures, together with the Philadelphia Federal Reserve Manufacturing Index. Industrial manufacturing figures for September are launched at 9:15 a.m. ET. Additionally, Fed Governor Michelle Bowman and Chicago Fed President Charles Evans seem at a “Fed Listens” Chicago occasion this afternoon.

A busy earnings week continues, as Morgan Stanley (MS) and Honeywell (HON) spotlight this morning’s company earnings reports. BB&T (BBT), KeyCorp (KEY), M&T Financial institution (MTB), Philip Morris (PM), SunTrust Banks (STI), Textron (TXT), and Union Pacific (UNP) are additionally reporting. E*Commerce Monetary (ETFC), Intuitive Surgical (ISRG) and WD-40 (WDFC) are scheduled to subject quarterly numbers after immediately’s closing bell.

Shares of Netflix (NFLX) soared almost 7.9% in prolonged buying and selling after the corporate launched its third-quarter earnings report. The corporate reported mixed results, with an earnings beat and a miss on home subscriber provides, whereas income barely missed analysts’ expectations. (CNBC)

IN THE NEWS TODAY

Negotiators from the U.Okay. and EU have reached a draft Brexit deal within the eleventh hour of talks and forward of a vital EU summit immediately. The “Withdrawal Settlement” will now be put earlier than EU leaders at their summit immediately and tomorrow, after which U.Okay. lawmakers on the weekend. (CNBC)

Maryland Rep. Elijah Cummings died at Johns Hopkins Hospital as a result of issues from longstanding well being challenges, his congressional workplace mentioned. He was 68. A sharecropper’s son, Cummings turned the highly effective chairman of a U.S. Home committee that has investigated President Donald Trump. (CNBC)

Vice President Mike Pence will urge Turkey immediately to halt its offensive in opposition to Kurdish fighters in northeast Syria, a day after Trump threatened heavy sanctions over the operation. Turkey’s week-long assault has created a brand new humanitarian disaster in Syria, with 160,000 civilians chickening out and a safety alert over 1000’s of Islamic State fighters deserted in Kurdish jails. (Reuters)

* ‘Don’t be a fool!’ Trump letter warned Turkey’s Erdogan against Syria offensive (CNBC)

Democratic congressional leaders mentioned they walked out of a White Home assembly on Syria after what Home Speaker Nancy Pelosi referred to as a Trump “meltdown.” After prime Democrats left the bipartisan assembly with Trump, Pelosi mentioned the president appeared “shaken up” by a Home vote condemning his resolution to take away U.S. forces from northern Syria. (CNBC)

China emphasised immediately that the U.S. must remove tariffs to ensure that the 2 international locations to succeed in a last settlement on commerce. The 2 financial giants have been embroiled in a commerce dispute for greater than a yr, with every nation making use of tariffs on billions of {dollars}’ price of products from the opposite. (CNBC)

Common Motors (GM) and union leaders have reached a tentative deal on a new labor contract that might finish the United Auto Employees’ monthlong strike in opposition to the automaker. The deal nonetheless wants approval from native union leaders, who will vote whether or not to approve the deal throughout a non-public assembly immediately in Detroit. (CNBC)

McKesson (MCK), AmerisourceBergen (ABC), Cardinal Well being (CAH), Johnson & Johnson (JNJ), and Teva Prescription drugs (TEVA) are in discussions with state attorneys basic over a potential $22 billion opioid settlement. The potential deal comes days earlier than the beginning of the primary federal trial searching for to carry industries accountable for the epidemic. (CNBC)

WeWork proprietor, The We Firm, has fashioned a particular board committee to contemplate proposals for a $5 billion financing lifeline from its largest shareholder SoftBank and its most important lender J.P. Morgan Chase (JPM), Reuters reported. The office-space sharing firm is establishing the committee in an effort to ring-fence its financing deliberations from SoftBank’s affect.

Tesla (TSLA) was added to a authorities record of approved automotive manufacturers, China’s business ministry mentioned immediately, because it granted the electric-vehicle maker a certificates it wants to start out manufacturing within the nation. The $2 billion manufacturing facility it’s constructing within the jap Chinese language metropolis of Shanghai is its first automobile manufacturing website abroad. (Reuters)

STOCKS TO WATCH

IBM (IBM) shares fell after the corporate issued weaker-than-expected third-quarter revenue. IBM’s income has now dropped for 5 straight quarters as progress within the firm’s cloud enterprise hasn’t been capable of make up for declining gross sales in its providers, {hardware}, and financing companies.

CSX (CSX) got here in 7 cents forward of estimates with quarterly earnings of $1.08 per share, with the railroad operator’s income in keeping with Wall Avenue forecasts. CSX noticed decrease cargo volumes.

Unilever (UL) reported weaker-than-expected third-quarter gross sales, with softer demand in India and China. Rising markets account for about 60% of the patron merchandise maker’s enterprise.

Taiwan Semiconductor (TSM) reported better-than-expected quarterly revenue, with the chipmaker seeing its web revenue rise 13.5% from a yr earlier.

Fb (FB) fell once more in Interbrand’s annual Greatest International Manufacturers report, dropping to 14th place from ninth. Interbrand, a unit of advert large Omnicom (OMC), mentioned the estimated worth of the Fb model fell 12% to $39.9 billion from a yr earlier.

Alcoa (AA) is mulling as much as $1 billion in asset gross sales in addition to closing manufacturing services, as aluminum costs fall. The aluminum producer reported a lack of 44 cents per share for the third quarter, wider than the 33 cents a share that Wall Avenue was anticipating, with income primarily in keeping with expectations.

Apple’s (AAPL) Apple Pay service is being examined for antitrust issues by European Union regulators, in line with the Monetary Occasions.

WATERCOOLER

Joe Maddon is again beneath the halo. Maddon agreed to a three-year deal to turn out to be the Los Angeles Angels’ manager, reuniting the World Sequence-winning former bench boss of the Chicago Cubs with the group the place he spent the primary three many years of his baseball profession. (AP)



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