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Apr 17, 2018

Wall Street is set for a higher open after stocks post their highest closes of the month, April 17, 2018.


U.S. stock futures were higher this morning after the Dow, S&P 500 and Nasdaq posted their highest closes of April.
Dow Jones Fut
24,573.04
Current: 24,730.00
Change: 167.00
Impl. Open: 190.96
S&P 500 Fut
2,677.84
Current: 2,694.25
Change: 12.50
Impl. Open: 16.51
NASDAQ 100 Fut
6,675.18
Current: 6,741.00
Change: 29.00
Impl. Open: 57.82
Russell 2000 Mini
1,563.03
Current: 1,572.10
Change: 5.80
Impl. Open: 8.47
Quotes as of 4/17/2018 7:39:54 AM ET

BY THE NUMBERS

Futures were higher this morning after the Dow, S&P 500 and Nasdaq posted their highest closes of April on Monday and once again avoided their first back-to-back losses of the month. The Dow is less than 146 points from erasing its loss for the year to date. (CNBC)

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Netflix (NFLX) stock is up 7 percent premarket on stronger-than-expected current quarter guidance, and subscriber additions for the prior quarter that exceeded Street forecasts. Dow component IBM (IBM) issues numbers after today's closing bell. (CNBC)

Johnson & Johnson (JNJ) reported first-quarter earnings of $2.06 earnings per share, 4 cents higher than the earnings Wall Street expected. Goldman Sachs (GS) and UnitedHealth (UNH) are also set to report corporate earnings this morning. (CNBC)

San Francisco Fed President John Williams, Philadelphia Fed President Patrick Harker and Chicago Fed President Charles Evans all have public appearances today. Of the three, only Williams is a voting member of the FOMC for 2017. Additionally, Fed Governor Randal Quarles will appear before the House Financial Services Committee to give testimony on financial system regulation. (CNBC)

The government will release March housing starts at 8:15 a.m. ET, with consensus forecasts calling for a 1.6 percent increase following February's 7.0 percent decline.
 IN THE NEWS TODAY

President Donald Trump rejected a fresh round of sanctions set to be imposed against Russia, The New York Times reported. The White House earlier contradicted the ambassador to the United Nations, Nikki Haley, who said there would be sanctions. (NY Times)

•  US and Britain warn of cybersecurity threat from Russia (NY Times)

Trump's administration is seeking to assemble an Arab force to replace the U.S. military contingent in Syria, according to The Wall Street Journal. The details emerged days after the U.S.-led strikes on sites associated with the country.

In an op-ed published in USA Today this morning, President Trump said the American people "are winning" and the U.S. economy is "back and roaring." He also said the new tax cut bill is lowering the size of Americans bills.

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Trump's re-election campaign paid $93,000 to a law firm to fight back against Michael Wolff's White House tell-all book, "Fire and Fury." The payments were largely in compensation for taking on ex-White House chief strategist Steve Bannon. (CNBC)

Sean Hannity addressed the revelation that the unnamed client of Michael Cohen, Trump's longtime personal attorney, was in fact the Fox news host. Hannity said that Cohen has never represented him "in any matter." (CNBC)

•  Stormy Daniels rips Cohen after court hearing deals blow to president and his fixer (CNBC)

Sen. John McCain, who is battling brain cancer, is in stable condition after undergoing surgery for an intestinal infection related to diverticulitis. Cindy McCain, McCain's wife, said that he was "doing well after his surgery." (USA Today)

North and South Korea are reportedly in talks to announce a permanent end to the officially declared military conflict between the two countries. A successful summit between the Koreas later this month could help pave the way for a meeting between Kim and Trump. (Munhwa Ilbo)

China's economy grew 6.8 percent in the first quarter of 2018, topping the consensus estimate of 6.7 percent year-over-year growth for the quarter. The data marks the third-straight quarter of 6.8 percent growth for the world's second-largest economy. (CNBC)

Tesla (TSLA) temporarily suspended production of its Model 3 in what the automaker is calling a planned production pause. The suspension is expected to last four to five days. (BuzzFeed News)

CNBC has learned Amazon (AMZN) Business, which sells bulk items to business customers, has shelved its plan to sell and distribute pharmaceutical products after considering it last year. Instead, it is focused on selling less sensitive medical supplies. 

Walmart (WMT) is close to unveiling an entirely redesigned website as it battles Amazon (AMZN) for shoppers' dollars online. The new design will be much more personalized and is expected to create a "fashion destination" online. (CNBC)

Additionally, the Supreme Court will consider whether to let states force out-of-state online retailers to collect sales taxes on purchases. South Dakota, appealing a lower court decision, is being supported by Trump's administration. (Reuters)

Facebook's product management director wrote a blog post explaining when the social network and its partners collect your personal information and when it's shared. The company reiterated that it's not selling this information. (CNBC)

STOCKS TO WATCH

Roku (ROKU) shares are getting a boost on news that Steven Cohen's Point72 Asset Management has taken a 5.1 percent passive stake in the maker of video streaming devices. Roku also announced the addition of ESPN's subscription service ESPN+ to the lineup of channels available on Roku devices.

Celanese (CE) reported better-than-expected profit and revenue for its latest quarter as well as giving strong current quarter guidance. The maker of technology and specialty materials was helped in part by stronger prices for acid and other materials, especially in the China market.

General Motors' (GM) financially strapped Korea unit may get financial help from state-run lender Korea Development Bank, according to the bank's chairman.

Sanofi (SNY) is in talks to sell its generic drugs unit to private equity firm Advent International for $2.4 billion. The French drug maker said it expects the sale to be completed before the end of the year.

WATERCOOLER

Kendrick Lamar, the twelve-time Grammy award-winning rapper, won the Pulitzer Prize for music for his 2017 album "Damn." This makes Lamar the first rapper to win a Pulitzer and his album becomes the first non-classical or jazz work to win the award. (CNBC Make It)

CONTRIBUTORS

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