Wall Street looks to buck history this month
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=3c8886cb8c172e1bcd74a1cca04cbeb506e615920c6256d2a6a638a1c0895b64a58ed3ae28cd0406c062d57818fe44b913add10d789dbdf2cf48171f564303f6CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=3c8886cb8c172e1bcd74a1cca04cbeb506e615920c6256d2a6a638a1c0895b64a58ed3ae28cd0406c062d57818fe44b913add10d789dbdf2cf48171f564303f6 here. https://click.response.cnbc.com/?qs=98a458b6459ff3468b87dba7cf26b99e83e088ef912f5ce228cbabf66591006c4ea233bea9a2e380 https://click.response.cnbc.com/?qs=7161bf4043ea8607ba5dc84b7cb8bccb4573b32a2e1d888939de95312acdda08e3a0023879a6ca8c IN THE NEWS TODAY Following the long Labor Day holiday weekend, U.S. stock futures https://click.response.cnbc.com/?qs=7161bf4043ea8607c513762bb8886345d6b0ea5c22142d9d3bd98622056755f2b929a10d8aea436a were modestly higher this morning. The Dow and S&P 500 were on pace for their best quarter of the year. The Nasdaq was poised for its biggest quarterly gain since the final three months of 2013. (CNBC) https://click.response.cnbc.com/?qs=7161bf4043ea860705eae59aac91c6cbab5bc685dc75f5ae87b4a8e864a01c0d24f968a85a0db5eb U.S. oil prices were higher this morning, around the $45 per barrel level. Crude surged on Monday, after Saudi Arabia and Russia agreed to cooperate on world oil markets. But the Saudi energy minister said there's no need to freeze output for now. (Reuters) https://click.response.cnbc.com/?qs=7161bf4043ea86076fc05d88527b5c5e6118476128f4f6c0178597b026641e7c13bc5629687eb8be https://click.response.cnbc.com/?qs=7161bf4043ea86077cc5f723ad0218785cecf4a1c6f52d3b497c8a7483588cd2140e6ad60f5927f6 https://click.response.cnbc.com/?qs=7161bf4043ea86071957843c439c2dc223998fe45cd71e56b5f0849f1d11c44309cf2338ea0f1436 Enbridge (ENB), the largest pipeline company in Canada, has agreed to buy Spectra Energy (SE) in an all-stock deal https://click.response.cnbc.com/?qs=7161bf4043ea8607840e817f82446e91f076c8c59252165f78c62ec1a23c3fe4535d093d2f6a01b4 valued at about $28 billion to create the largest North American energy infrastructure company. (Press Release) Science and technology innovator Danaher (DHR) https://click.response.cnbc.com/?qs=7161bf4043ea860736fe93908a8fdb2bd1ca894f99e33a011d6043d5fc1bb399330b010f82d9325e has agreed to buy Cepheid (CPHD) for about $4 billion. Cepheid is a global molecular diagnostics company.Cepheid shares were up about 50 percent in premarket trading. (Press Release) German pharmaceutical and crops maker Bayer said negotiations with Monsanto (MON) https://click.response.cnbc.com/?qs=7161bf4043ea8607631294c5d587d99d7b6a5ef3390bb4560e6a5df6d7cf5de82c036a7a47b4e8d9 have advanced , and it's now willing to offer more than $65 billion to acquire the world's largest seed company. Bayer said it's prepared to offer $127.50 per share. (Reuters) Volkswagen (VLKAY) has agreed to buy a minority stake in truck maker Navistar (NAV). VW is paying $256 million for a 16.6 percent stake. The deal comes a year after the VW emissions cheating scandal. (CNBC) General Motors (GM) https://click.response.cnbc.com/?qs=7161bf4043ea86074bf61ed1c64f6ccc5c29a0d441116db4e468a1346ad827d1a12b34caf254ea4e settled two federal cases over its faulty ignition switches, which have been linked to 124 deaths and 275 injuries. The automaker said there were three more federal cases scheduled to be heard next year. (NBC News) All operations at London City Airport https://click.response.cnbc.com/?qs=89618a5dfc97341c87776a66107bedfa9439357549a47df97871879851df9d589d0154cb84b0ce41 were suspended this morning after a group of Black Lives Matter protesters occupied the runway. Meanwhile, British Airways flights https://click.response.cnbc.com/?qs=89618a5dfc97341ccc87edfcc88cf748822a945b068cc703f9bb7afb473545fe7ccc49f15d3a4c7a were delayed at a number of U.S. airports due to a check-in glitch. (CNBC) As the iPhone nears its 10th birthday, the latest models arrive tomorrow, https://click.response.cnbc.com/?qs=89618a5dfc97341ca12473d34983fee9805914a0a281ef9c9c449c5e93f71c2617b2b16fb48da2ea but probably won't include the kind of significant new features Apple (AAPL) consumers have come to expect every other year. (WSJ-subscription) Charles Harder, Hulk Hogan's lawyer in the successful Gawker lawsuit funded by billionaire Peter Thiel, has sent a letter to New York magazine https://click.response.cnbc.com/?qs=89618a5dfc97341c8387e7d6295e987667e679a7d4f5724d52de6c48ab03fa4a3424d688316f0173 on behalf of Roger Ailes , suggesting legal action over its reporting about the former chairman of Fox News. (NY Times) The trial in the George Washington Bridge lane-closing scandal, which is https://click.response.cnbc.com/?qs=89618a5dfc97341c17c86f205ca29de1f1af2dff48ae0ab067f7858559888efbb61e4ffd6bec6905 scheduled to open on Thursday with jury selection, will play out like a documentary on the rise and fall of New Jersey Gov. Chris Christie's presidential ambitions. (NY Times) GOP presidential nominee Donald Trump, who's previously accused the Fed of keeping interest rates low to help President Barack Obama, said the central bank has created a https://click.response.cnbc.com/?qs=89618a5dfc97341c0a4b69c555e0be4a28963ac3f331307f3f9169655fa045f6b08f03db101c9279 "false economy" and rates should change. Trump campaigns in North Carolina tonight. (CNBC) Hillary Clinton, in the swing state of Ohio, https://click.response.cnbc.com/?qs=89618a5dfc97341c3e3207e1b194a1ce99f26e91df8228ff73a0cedfb2063a1e4faae5e209a9a39c struggled with a coughing fit . The Democratic nominee has suffered from periodic coughing bouts, raising questions by the right about her health. Clinton has no public events scheduled for today. (NBC News) Clinton's national lead over Trump https://click.response.cnbc.com/?qs=89618a5dfc97341c975502b4f98fef4314c4dfb73c945b8d6583d6b14d8233de956cdec550c2bd5c remains steady at 6 points , according to the latest NBC News|SurveyMonkey weekly tracking poll. In a four-way general election match-up with third-party candidates, Clinton leads Trump by a slightly narrower 4-point margin. https://click.response.cnbc.com/?qs=89618a5dfc97341c16e904a7b0fb2b151b970f1aa79b7d2521eabd8ad4fca2f25f66abc8b34ddad3 The influence of CEOs over the political leanings and donations of their employees, intentional or not, is substantial, according to a new academic study. A chief executive's politics may be one of the most significant factors in swaying their employees. (NY Times) President Barack Obama https://click.response.cnbc.com/?qs=89618a5dfc97341c5028ae3b585217d0e3b7a0ad06891c5595b3a5c2be4d64181c6efe7d7cf13be2 canceled what would have been his first meeting with Filipino President Rodrigo Duterte, who described Obama in vulgar terms. Obama continues his trip to Asia on the heels of the G-20 in China. (Reuters) Hurricane Newton https://click.response.cnbc.com/?qs=8a87eafb181c960558f0a64c58eb88b10eed3cee7a2789ea28f55bad24bbc7f4d31304ca182cec19 made landfall early this morning, near Cabo San Lucas, Mexico. The remnants of the storm promise to bring rain to parts of the U.S. southwest. Meanwhile, Hermine https://click.response.cnbc.com/?qs=8a87eafb181c960576744f586d5bf52b163e6fcc9c0ea9aebdf37c75ac86a633c74b0e668485cdb7 is expected to slowly meander off the Northeast coast. (Weather.com)BY THE NUMBERS Investors look ahead to the Fed's meeting later this month and wonder whether Friday's weak jobs report was enough to put off the second interest rate hike in 10 years to December.San Francisco Fed President John Williams speaks at 9:15 p.m. ET in Reno. Williams is expected to take questions from the media.Another clue on the economy is out this morning, with the Institute for Supply Management releasing its non-manufacturing index at 10 a.m. ET.A reading of 55.0 for August is seen, down slightly from 55.5 in July.The earnings calendar is also light, with Marvell Technology (MRVL) as one of the few companies out this morning. Dave & Buster's (PLAY) leads the short list of after-the-bell profit reports.Barnes & Noble (BKS) got a positive mention in Barron's, which said the shares are a bargain based on a misperception the bookseller is being badly outflanked by Amazon (AMZN). STOCKS TO WATCH Carl Icahn bought nearly 307,000 more shares of Herbalife (HLF) on Aug. 31, according to an SEC filing, and now holds about a 19.6 million share stake. Earlier last week, Icahn rejected rumors he wanted to sell Herbalife, saying he bought 2.3 million shares.Online payment giant PayPal (PYPL) has struck a deal with MasterCard (MA) to allow PayPal transactions in stores, according to the Wall Street Journal. PayPal struck a similar agreement Visa (V) earlier this year.Liberty Media (LMCA) is close to a deal to buy a 10 to 15 percent stake in racing car series company Formula One, according to the Financial Times.A final deal is expected to be announced within the next two weeks.General Electric (GE) announced deals to acquire two European 3-D printing firms for a total of $1.4 billion. The technology has been used by engineers to build prototypes for decades but has become more widespread.U.S. semiconductor giant Intel is to acquire Movidius, a company behind so-called "computer vision" chips that can play a key role in technologies from virtual reality to driverless cars. WATERCOOLER Just a little more than a week ago, some people were burning Colin Kaepernick jerseys. Now, they're https://click.response.cnbc.com/?qs=8a87eafb181c96050fca04b40005a6b12569277149ae30e954dc0d9df680d69824f984913d35fea3 flying off the shelves . Kaepernick has been sitting during the national anthem as a protest over social issues impacting African Americans. (USA Today)What had been a troubled U.S. summer box office https://click.response.cnbc.com/?qs=8a87eafb181c96059e729e80325e46ed6bb7cd4e92c4bf1f7290470b003a9573f0170b4ce5d17b06 ends on an upbeat note as Sony's horror-thriller "Don't Breathe" dominated the four-day Labor Day weekend with $19.6 million and "Suicide Squad" crossed the $300 million mark. (Variety) CONTRIBUTORS https://click.response.cnbc.com/?qs=8a87eafb181c96053dc2d215d918a177c0d32284037a1924b6ee90fd601d13df811325040e708a3b https://click.response.cnbc.com/?qs=8a87eafb181c96053dc2d215d918a177c0d32284037a1924b6ee90fd601d13df811325040e708a3b Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=8a87eafb181c96058d592446f4fb9c8a3c54af43b354308f1a7d4b0e78d2394593c1b4f38be91fa9 @Matt_Belvedere https://click.response.cnbc.com/?qs=8a87eafb181c9605a55f6ce27d7fc638c44c77ddb7c4c608ee7b232c190a1e86e7208a2cb575d25c https://click.response.cnbc.com/?qs=8a87eafb181c9605a55f6ce27d7fc638c44c77ddb7c4c608ee7b232c190a1e86e7208a2cb575d25c Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=8a87eafb181c9605cd7a11ce9376c99f8b84fde5d482d0cbcad6724fc36a5c1af63107691ab74cc9 @peterschack https://click.response.cnbc.com/?qs=8a87eafb181c9605adace79aee8b8d69cf6e103618d24fdee99636fc0e928bbfd801f4c9ea58f8f7 https://click.response.cnbc.com/?qs=8a87eafb181c9605adace79aee8b8d69cf6e103618d24fdee99636fc0e928bbfd801f4c9ea58f8f7 Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=8a87eafb181c9605577d4e4f27476ed838ca55555cf826e369bfc4902496799cb1584292da5566f4 our simple form to let us know what you think. 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