Wall Street set for strong March start
To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://view.response.cnbc.com/?qs=3a51d113229ab3b60cbe8d6cd2a7af10a86d1e078895763dc2aeca9e7ca4567c2de94fcef411497407a48e147cf421a9f6d6eb25070d83fd15b9c34875195d94CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=3a51d113229ab3b60cbe8d6cd2a7af10a86d1e078895763dc2aeca9e7ca4567c2de94fcef411497407a48e147cf421a9f6d6eb25070d83fd15b9c34875195d94 here. https://click.response.cnbc.com/?qs=8685c5d681444e0d1bdcea7f2687d2fa270596dc4e152287c713a214967b9b46adbcc532421e514e https://click.response.cnbc.com/?qs=8685c5d681444e0d6ac613bdf9f3006e5faca440c838c500c7f5ae866b78e8b5295bbfdad88eb90e IN THE NEWS TODAY U.S. stock futures https://click.response.cnbc.com/?qs=8685c5d681444e0db34e8d7463702d4d87d81d0e88c5d97db1348be3a070bf86c9dd8f450a336438 were higher on the first trading day of March. Despite Monday's decline, the https://click.response.cnbc.com/?qs=8685c5d681444e0d7dc0ff9450f38f15c10e0fd8f7a04a368def53a1604123b32e7b8c0cfa50447f Dow broke a two-month losing streak in February, while the https://click.response.cnbc.com/?qs=8685c5d681444e0d82dc85646a47043f8358516f9010e81205fb1356518fb14b84d9b12eb3465618 S&P 500 and the https://click.response.cnbc.com/?qs=8685c5d681444e0d96d7b166b45827c60e0517c14b105c49bc0537f8f17f78ed4b99f04d9e0eda31 Nasdaq made it three down months in a row. (CNBC)Republican Donald Trump and Democrat Hillary Clinton are looking at https://click.response.cnbc.com/?qs=8685c5d681444e0d24d78d65e820d676fb744aa8e731e4a69f44c24d8932e19a141a7a0394bc3b00 today's Super Tuesday nominating contests to pull away from their rivals and help accelerate their marches toward the general election. (AP)The week following Super Tuesday has historically been a https://click.response.cnbc.com/?qs=8685c5d681444e0d13915c39aa5dc041a1a4b4e289777a87b0aaba5aa82e15e945fdda649ca6d7f2 positive time for the stock market . In the six Super Tuesdays going back to 1992, the market has been higher one week later, according to analytics firm Kensho. (CNBC)The market has not posted an across-the-board March rally since 2013, when the major indexes all rallied about 3.5 percent. But March and April are historically https://click.response.cnbc.com/?qs=8685c5d681444e0d0aaacbc41b2879a5f6edbdc61e5ca956afe2335d9d600435cca9d1b16a856abe good months for stocks , according to Bespoke. (CNBC) https://click.response.cnbc.com/?qs=8685c5d681444e0dafd279d9824fb944a7e02d15e2f97bf5ba445e716cda3735ba19e6fecb9b364a https://click.response.cnbc.com/?qs=8685c5d681444e0d6b38f6ef5c17cc6b654a8a00cd0838a146de9773254d4dfc8aba15474d5c2955 https://click.response.cnbc.com/?qs=8685c5d681444e0d05125a8406687c40a943a25df6fe8bf73b527be91f542a811477648d160cd653 New York Fed President William Dudley said he sees downside risks to his U.S. economic outlook, an assessment that https://click.response.cnbc.com/?qs=8685c5d681444e0d022bbf9b441acbe3621d4991947d08508c857f7e752ea51f1d519450b796ee70 could lead to a longer pause before the next interest rate hike. (Reuters)U.S. oil prices https://click.response.cnbc.com/?qs=8685c5d681444e0d71ccda5d2c1f6ffeb39ff6d5bda180e137642b3589207d90e5f39d06caef7f44 extended Monday's gains this morning , ignoring a https://click.response.cnbc.com/?qs=8685c5d681444e0d321c3a1b8c81fba12587ad7a08b6cf42b9c381e1ef378eadf04505a7ab883cee slump in China's manufacturing sector that stirred fears of slowing demand growth, with markets instead focusing on a fall in American and OPEC output. (Reuters)China's Shanghai composite https://click.response.cnbc.com/?qs=8685c5d681444e0df7c865a3ea57b7f1fc3c90ad9c868b5b643999e46917a13b2bb230363009259a gained 1.7 percent today, as stock investors digested the https://click.response.cnbc.com/?qs=8685c5d681444e0d9b42007ad0df6802846759fda6ec5303b36352a67054562c94f33dcd134026d0 surprise move by the Chinese central bank to cut the reserve requirement ratio for banks, and shrugged off those weaker manufacturing figures. (CNBC)Commitments by China and other major economies over the weekend have https://click.response.cnbc.com/?qs=8685c5d681444e0d5a023850c1d7f0170830ad7277b4c4335ed838bfd405e4952275e9d5b9587e85 lowered the threat of currency depreciations that could fuel global market turmoil, said U.S. Treasury Secretary Jacob Lew. (Reuters) https://click.response.cnbc.com/?qs=8685c5d681444e0da60d27c009bdbe08dce088b48607b6b724217c24bba4b3591e8f733f384c4623 Apple (AAPL) and the FBI make their cases https://click.response.cnbc.com/?qs=8685c5d681444e0dcc56218143b9534abfa883ec0ba0a1aeb1d79962a3d52ad2914ad31a36b30230 before a congressional panel today , regarding a court order to force the tech giant to help authorities hack the iPhone belonging to one of the San Bernardino shooters. (Reuters)In perhaps a ruling that could help Apple in the San Bernardino case, a federal judge in Brooklyn ruled the government https://click.response.cnbc.com/?qs=8685c5d681444e0df9044096206dfdc986f799195dcfea35054039288a1818ce23e8e0c56c77a948 cannot force the company to unlock an iPhone in a New York drug case. (AP) https://click.response.cnbc.com/?qs=8685c5d681444e0d5d74b93527f1593198ed276882026353bf3ddbdb1714e4efdf6c9d0afc259ef0 Yahoo (YHOO) https://click.response.cnbc.com/?qs=8685c5d681444e0d44837d4fb2150a5d271689be83b8e0fea0dea2a31978f1dd82d418728893d22b may have to write down the goodwill value of Tumblr, more than two years after the struggling Internet firm spent $1.1 billion to buy the microblogging site. (Reuters) https://click.response.cnbc.com/?qs=8685c5d681444e0d4933b60cb43e51e16fdc2a8c22ba885b7efab027992c814f4cc7b552d5e6d36f Valeant (VRX) was higher in premarket trading, after losing 18 percent Monday on word of a SEC investigation. Bill Ackman, a large shareholder, expects the drugmaker https://click.response.cnbc.com/?qs=8685c5d681444e0d6cb3c38e4cb5fb05e03320652e3501e847316a02c35206209b5bb21961a5ed1c to quickly sort out the issues hammering the stock. (CNBC)The federal Medicare program and private health insurers https://click.response.cnbc.com/?qs=8685c5d681444e0d35160b8609591fc4ab1f325c11de3af82d141bd9d5be9c87fefa4991812899fa waste nearly $3 billion every year buying cancer medicines that are thrown out, a group of cancer researchers has found. (NY Times)President Barack Obama meets with Senate Republican leaders today, https://click.response.cnbc.com/?qs=8685c5d681444e0de2defa8d2bd73edde790d49bc7fb4818695a849df667c6099ce539c4ee4cfad3 to press to fill the vacancy on the Supreme Court created by the death of Justice Antonin Scalia. (Reuters)The State Department https://click.response.cnbc.com/?qs=8685c5d681444e0d2ff62a40c69cc238a7cddcbff5a907f2ebcf5a6fabf0fc004f5cd155bc0deea1 has released the last set of emails from the 30,000 messages on Hillary Clinton's private computer server, during her tenure as secretary of state. (NY Times)Surrounded by a diversity controversy, ratings for Sunday's Academy Awards broadcast on https://click.response.cnbc.com/?qs=8685c5d681444e0de9ba42043e173ad7b4f22428757d3ce4699503772843c33ae3da2968418cb693 Disney -owned ABC https://click.response.cnbc.com/?qs=8685c5d681444e0d166c9c4e34821a84548283b6dac2151f28e3314f37aa4804bd7dbb36d87465d9 tumbled to near record lows , but they did not completely implode. (NY Times)BY THE NUMBERS The Tuesday session features key economic reports at 10 a.m. ET, with the ISM releasing its February manufacturing index and the government issuing January construction spending figures.The nation's automakers issue their February sales figures throughout the morning, with analysts looking for an annual sales rate of 17.7 million vehicles for the month.Earnings reports out this morning include https://click.response.cnbc.com/?qs=8685c5d681444e0d44ed7dbae53663f1ccfd4b9ebead732cef192f95e7fefb0ebe743453f5580412 AutoZone (AZO), https://click.response.cnbc.com/?qs=8685c5d681444e0d12355b2ce6ce5eaac6ced9736abef5bfb6bc9b8baaf6a18a763f3a233cf7a274 Dollar Tree (DLTR), https://click.response.cnbc.com/?qs=8685c5d681444e0d3376420505cb56e583f76df5a61c117b1988608621c42b2da68e76dd5bb52c19 Kate Spade (KATE), and https://click.response.cnbc.com/?qs=8685c5d681444e0d7a55785fe05e5a3c5df3152d98b7244354d79f53bd7c6a5c9a98cc6f3d77f4b0 Medtronic (MDT), while today's after-the-bell releases come from https://click.response.cnbc.com/?qs=8685c5d681444e0d562a21ef8cf3b4ca470b0e4b54424717d5966ba0115c95ebbbe18e19d54f2662 Ascena Retail Group (ASNA), https://click.response.cnbc.com/?qs=8685c5d681444e0df88ad04207e0f8cabe027c3109ffa68ed890f618d6231066885348bc1eedc1bb Bob Evans Farms (BOE), https://click.response.cnbc.com/?qs=8685c5d681444e0de9acffbb621599d397fb9bedaa517f729994e13c73ca5074c10fd592035e90d4 Ross Stores (ROST), and https://click.response.cnbc.com/?qs=8685c5d681444e0d6c799403c08cd9562b347231d49a03df84763866db5001cb2b06a3d7dd35326b TiVo (TIVO).Shares of https://click.response.cnbc.com/?qs=8685c5d681444e0d4f0c38591134b493d7f0d2bdf17fcc9b93da703b47e0a7a9763684786c40da45 Barclays fell sharply in London and premarket U.S. trading, after the British bank https://click.response.cnbc.com/?qs=8685c5d681444e0dfb24955131ddbcc5b5c1271a5720262e5b91be7421876652a57328d165bedd2d announced further restructuring , a dividend cut, and an 8 percent fall in statutory pre-tax profitlast year to $2.9 billion.Miner and commodity trader Glencore https://click.response.cnbc.com/?qs=8685c5d681444e0def7ba236e2963108805043f18bf7101b7f5e63c7e9308cfa5955e98b8cfc5917 reported $5.8 billion of charges , mostly due to impairments following a slide in commodity prices, and a 32 percent fall in 2015 core profit. https://click.response.cnbc.com/?qs=8685c5d681444e0d0dfb4bcea536d83991a5066d37ec469207250675d857f714a7d211bc9527baa3 IntercontinentalExchange (ICE) https://click.response.cnbc.com/?qs=8685c5d681444e0ddc2bb37132b0ed758b4336ff7770214ff5374b9d0b2ec401fac45db1ddd1d777 is considering a bid for the London Stock Exchange, which is currently in advanced talks with Deutsche Boerse about a potential $28 billion merger of equals. STOCKS TO WATCH https://click.response.cnbc.com/?qs=8685c5d681444e0db6b7f5694d7c60843c25946d3bbda1f3014ec0cbf4e3bc27dffc5bc2f5585b09 SunEdison (SUNE) delayed filing its annual report, as an internal investigation into the solar company's finances continues. The stock was dropping about 20 percent in premarket trading. https://click.response.cnbc.com/?qs=8685c5d681444e0dd85c29db4db1d12fd17083dfa10a4341b12097941556f070bd87f5e80f2fa6bf Marathon Oil (MRO) is planning a secondary offering of 135 million common shares, and plans to use the proceeds in part to strengthen its balance sheet. The stock was lower in the premarket. https://click.response.cnbc.com/?qs=8685c5d681444e0d706947de5087e76fd65bab8b29329ee88d6e6b4ab9787c4231f9c9f7045f2786 Crocs (CROX) lost 73 cents per share for its latest quarter, more than double the expected red-ink. Revenue did beat forecasts, but the shoemaker battles warned on outlook and the stock was taking a hit premarket trading. https://click.response.cnbc.com/?qs=8685c5d681444e0d11ccd2698a7a79b5dbe30d9ecd0ce34e5721365b76ce3899bcb5347a6f7ff275 Hertz Global (HTZ) slight beat estimates on earnings but fell short on revenue, blaming soft pricing in the U.S. market. The car rental company lowered its forecasts for the full year. https://click.response.cnbc.com/?qs=8685c5d681444e0d3369e0ff0caf280f38d2da5b45f60b5a1ed85b6c64efc5f61a57583c68820486 Wynn Resorts (WYNN) and https://click.response.cnbc.com/?qs=8685c5d681444e0dfd76eea48a0e025330f5203f9bd61aa1462a3f57a49c9e455d6e9e621518a374 Las Vegas Sands (LVS) could benefit from new gaming figures from Macau, which show that the multi-year slump in gambling revenue may be bottoming out. WATERCOOLER After logging millions of miles in autonomous-drive mode, one of https://click.response.cnbc.com/?qs=8685c5d681444e0d9ef29d92c3c20018d72df1086822c674b97bde21330c492257ad54442c322523 Google 's self-driving cars has finally been the https://click.response.cnbc.com/?qs=8685c5d681444e0ddeac0dcaf954e2ac426c99deb218d83c33338a226aceaeaa5c005712bc41dd99 cause of an accident . No one was hurt, but the car steered into a bus in the next lane. (CNBC)Fast-food giant https://click.response.cnbc.com/?qs=8685c5d681444e0d4d5ff43f0bafe44c4179b14e2ad850820209155702932d34ffa8320c26198dc9 McDonald's is following in Google's Cardboard footsteps for virtual reality and releasing Happy Meal boxes that can turn into VR headsets called https://click.response.cnbc.com/?qs=8685c5d681444e0d73dea57396b2d1b94968871e9f0ba59f2da2d5b1e745a40071f997c8a2ab19d0 Happy Goggles . (CNBC) CONTRIBUTORS https://click.response.cnbc.com/?qs=8685c5d681444e0d9df94324f6435bc68ec99964305bb1e4b0f8ab98ec2275e8971a8e1017a6d22c https://click.response.cnbc.com/?qs=8685c5d681444e0d9df94324f6435bc68ec99964305bb1e4b0f8ab98ec2275e8971a8e1017a6d22c Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=8685c5d681444e0d2400cdd503f31e84af1f15226eada2c542358edcbcecfd8fcf70bc6003bd3315 @Matt_Belvedere https://click.response.cnbc.com/?qs=8685c5d681444e0d91620d9e321b3ab23b58af3c6ce59115f750f84cbe5c57dbb49ada9baea3caf7 https://click.response.cnbc.com/?qs=8685c5d681444e0d91620d9e321b3ab23b58af3c6ce59115f750f84cbe5c57dbb49ada9baea3caf7 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=8685c5d681444e0dffdef60960cd37075c3b719e69440cd74f553e4907f849d4fd84278e3ea14282 @peterschack https://click.response.cnbc.com/?qs=8685c5d681444e0d4247ae3f1f24978eb3e850fc345ee18bc5bd5b448729442eeb60a01c00c79224 https://click.response.cnbc.com/?qs=8685c5d681444e0d4247ae3f1f24978eb3e850fc345ee18bc5bd5b448729442eeb60a01c00c79224 Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=8685c5d681444e0d2134317f825e29a66879104979f4be52bafdb99e70da268330b29d1cb24a7d7b our simple form to let us know what you think. 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