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=887e22ef782a461e362ed15e501236112237525e062de9da1871413e85e3594289848d0b06eac47cb1cf909807ec57be1ebb62482db0323af05cd9834801062cCNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=887e22ef782a461e362ed15e501236112237525e062de9da1871413e85e3594289848d0b06eac47cb1cf909807ec57be1ebb62482db0323af05cd9834801062c here. https://click.response.cnbc.com/?qs=4edca8cfa2c14e2668f55e0274d9363774aaab44b297adead4640997a9d95e7e9f4a58d58603b71038f49bf2527f5b9d547dfa7a959340eb https://click.response.cnbc.com/?qs=4edca8cfa2c14e26ef706e1040af160c662c67bf50e7e972b0e1cdc9f24e47a579e280b444503c013274d832af888fefb42f969b07e2c22d WEDNESDAY MARKETS U.S. stock futures https://click.response.cnbc.com/?qs=4edca8cfa2c14e26b54736bcb6ea455f418f0cecff42515de7137af43325c031d18deab0680c9d334de766baff572b7bfc6db8ac3bcdaecd were higher this morning, on the first day of February. While both posted January gains, the Dow was riding a three-session losing streak, and the S&P 500 was on a four-session skid. (CNBC) Ahead of Friday's government employment report, ADP released its https://click.response.cnbc.com/?qs=4edca8cfa2c14e26d9353d4cdbc82c2d9ac0e450a45f95b1f87ec90e6b52ddc0d45b20ff24416b18b6c81f668ed036481ac7038582d3a125 January private payrolls data this morning. U.S. companies https://click.response.cnbc.com/?qs=4edca8cfa2c14e26a9d64e8f458bafc9d5fc5a6826eb9abd6709cfc2993441c8379a00ae5c6a5617329fa5f4201ad9ed80419f5257380d82 added 246,000 positions last month, far exceeding expectations. (CNBC)The Fed ends its two-day meeting with a https://click.response.cnbc.com/?qs=4edca8cfa2c14e26f01919a9e6f9a75ed3471d7cddb24e5248d6f9576227dc42b4d78c10147b1aa88eb9ef1b37bed9c707bbb5fb31a56c68 policy statement at 2 p.m. ET . No hike in interest rates is expected, but central bankers in December projected three rate increases for 2017. (CNBC) https://click.response.cnbc.com/?qs=4edca8cfa2c14e2675aeddd4748e931f0335e98e8ef13201aeefd08b6ae7764c729a68f2489135601248c4b8dbfa79e13ec390ded7e6bbb1 https://click.response.cnbc.com/?qs=4edca8cfa2c14e26b1e6b98d84dcdef363262b25df3cf312b0a4ada8a2e42dc4333f5f9b7f9c55b0741c767c749c1a7aa26abb5fec72a7b8 https://click.response.cnbc.com/?qs=4edca8cfa2c14e2656ed407cb9891d97f88c75bab740ccb4ed79fe169bbb74376a8a38b9320f71a2a31e8ca93dfc8571796dac59fe13ac80 TECH EARNINGS Apple (AAPL) was sharply higher in premarket trading after quarterly earnings and revenue https://click.response.cnbc.com/?qs=4edca8cfa2c14e2688e1268c0927bec35529f8e3b346cab96a829a83b2fbc5aa206a93c7b3b034c5a5cf2517e6738acdf88e915634472cb5 easily beat expectations on stronger than expected demand for the iPhone 7. However, Apple did warn on outlook. (CNBC)Apple's enormous https://click.response.cnbc.com/?qs=4edca8cfa2c14e26119c9ce5cdbada3920740954e5886dc2fef0eff54d9abeb7a960bc0d21766e26b1b13002569e87cce58a0c0a26209bef cash hoard grew to nearly $246.1 billion in the latest quarter. If Apple's cash were its own public company, it would be the 13th largest in the world. (CNBC) https://click.response.cnbc.com/?qs=4edca8cfa2c14e2666a6a6489335f3d74830c0d281554f0a3d3d52689a61ae39b93163bf4038992561007c9f357393343a2042b5ede94daf Facebook (FB) is scheduled to report earnings after the closing bell on Wall Street this afternoon. Expectations call for a $1.31 per share profit on revenue of $8.5 billion. (CNBC)Facebook https://click.response.cnbc.com/?qs=4edca8cfa2c14e2640f61b99f92b107665f416354f893f0902fd2073bb2489c771c9f2448f288fa1934135ed7c8e7bbebb82afc4a0d13c98 is said to be developing an app for television set-top boxes, including Apple TV, giving the social network another foothold to help monetize its video content. (WSJ) THE FIRST 100 DAYS After a successful procedural vote on Monday, the full Senate https://click.response.cnbc.com/?qs=4edca8cfa2c14e2685a07f68e92e467cb1a92e3863055ebfec2444ad69e1bed5a82274870343db9076ff768f7820ff67b8d01d5b612569c7 is expected to vote today on the confirmation of former Exxon (XOM) chief Rex Tillerson as Secretary of State. (USA Today)President Donald Trump https://click.response.cnbc.com/?qs=4edca8cfa2c14e260305de34facbbd6be890cda635b79ea2bc6bdf339a73b92b0b21a655d458a6bc5f1ab1e00166df14702a80ac11aa7cf6 has nominated conservative judge Neil Gorsuch for the Supreme Court, with https://click.response.cnbc.com/?qs=4edca8cfa2c14e261dd83fb852b05ecf5d90884cbbd92d05e60e1187fafe9dffbdd9b385b2d77b0bdee241225f07255cccb4b156e1e3e40b Democrats immediately questioning his record on women's issues and corporate interests. (CNBC & NBC News)Liberty University President Jerry Falwell Jr., one of the nation's most prominent evangelical Christian leaders, https://click.response.cnbc.com/?qs=4edca8cfa2c14e260b3f13d195aede2381746afef11e40a09291c879864e04c7d7aa431e0e0f7f143c9f6da65fae2e8e4f4093d02491290c has been asked to head a White House task force on reforming the U.S. higher education system. (NBC News)Apple CEO Tim Cook told The Wall Street Journal that the tech giant https://click.response.cnbc.com/?qs=4edca8cfa2c14e26adc887f390b877a6ffce18672c056de1d1bee5395af4f83bc4323f7950a205d8db1ddc7ba58e279e876633d5bc20ae94 is considering legal action against the Trump administration to challenge the president's executive order on immigration.Hedge fund billionaire Ray Dalio said he's https://click.response.cnbc.com/?qs=4edca8cfa2c14e26fd2382930ebecfebcbfbf1fa308168c9f3275469c02cc0e4a6a1f0b7d2df0c64ccd955552f77f9fe0f11f51d75293ce3 increasingly concerned Trump's "populist" policies could hurt the global economy. Dalio had told CNBC in Davos in January "there's an optimistic possibility" about Trump. https://click.response.cnbc.com/?qs=4edca8cfa2c14e26dfebff21bd11fb902f725e466adaab92c16e483728a9448fe4260a59e6adaeddc6635e3641689b6766b50d43f38b9a50 In documents related to his 2011 New Zealand citizenship, Silicon Valley billionaire and Trump advisor Peter Thiel said, "no other country ... aligns more with my view of the future." (NY Times)After Trump paved the way in an executive order last week, the Dakota Access pipeline https://click.response.cnbc.com/?qs=4edca8cfa2c14e26821f53eb865252dd93c311ab313138b47252626ec96d94d2713ad58b5bcddbea08b6dd3a1d6bc9c0ae090dfe0ad4a445 is expected to get a permit from the U.S. Army Corps of Engineers to allow the $3.7 billion project to be completed. (NBC News)Saudi Arabia https://click.response.cnbc.com/?qs=4edca8cfa2c14e26f4980fe50c73047b1dd993ab1509d3c0d9203525fdaaa7a53ab7f8def131dd983a28bac3480ac6619e4d4db7a63bea83 may increase its oil investments in the United States due to a more fossil fuel-oriented energy policy by the Trump administration, the kingdom's energy minister told the BBC in an interview.A sharp plunge in applications for government-insured home loans https://click.response.cnbc.com/?qs=4edca8cfa2c14e267316a5468a23937a20740d2c638ad6db86355f294a668377c2a47976c7966e50c9fdeec2ddb1bd4eeb34b3c937956555 as a result of Trump policy was behind the 3.2 percent drop in overall mortgage volume last week. Refis fell a smaller 1 percent. (CNBC)CORPORATE NEWS https://click.response.cnbc.com/?qs=4edca8cfa2c14e261d28b7266686e73331709c193b310ac8fcf76d10ab52d403e025c09b39dfa4154e1de59d97e323138d9e3ef81abb3b91 A new round of crash tests highlights areas where Tesla's (TSLA) Model S and BMW i3 failed to score as high as other electric vehicles rated by the Insurance Institute for Highway Safety. (CNBC)Volkswagen (VLKAY) https://click.response.cnbc.com/?qs=4edca8cfa2c14e26e1ce9cbf0ab4296d0a864c00d0ed62f618bd5e3fc4a36ee44cd347d591e8d447e2931369c6400b2becd0216845e8abab has agreed to pay at least $1.26 billion to either fix or buy back about 80,000 3.0 liter diesel-engine vehicles, in the latest settlement involving its diesel emissions scandal. (Reuters)Amazon (AMZN) https://click.response.cnbc.com/?qs=4edca8cfa2c14e26e35b0008694dc4105cd41d702acb7576ccbab668da3b887464482461593e1feb46a919aa7fda5388c9dccfbf93a00965 will invest about $1.5 billion in an air cargo hub in northern Kentucky, planning to employ 2,000 people and eventually house 40 Amazon Prime Air planes there. (Recode) BY THE NUMBERS In addition to the ADP jobs data, the January ISM manufacturing index and December construction spending are out 10 a.m. ET. Meanwhile, the Energy Department issues its weekly oil inventories report at 10:30 a.m. ET. U.S. automakers release their January sales figures throughout the morning, with Edmunds.com predicting a 0.7 percent decline for last month compared to January 2016. Invitation Homes (INVH) begin trading today on the NYSE, after pricing its IPO at $20 per share, within the expected range. The real estate investment trust raised $1.54 billion in the offering. STOCKS TO WATCH Arconic (ARNC) slightly missed estimates on quarterly earnings, while revenue matched forecasts. The engineered parts maker, separated from Aloca (AA), in November, warned on outlook. Activist Elliott Management is trying to force out CEO Klaus Kleinfeld.Electronic Arts (EA) earned an adjusted $2.58 per share for its latest quarter, exceeding estimates. Revenue also beat forecasts, helped by strong sales of the video game maker's "Battlefield 1." AMD (AMD) posted a smaller than expected fourth quarter loss, better than expected revenue, and a rosier sales forecast for the current quarter, helped by increased demand for its graphics chips used in gaming consoles. Match Group (MTCH), behind its namesake online dating service as well as Tinder, was under pressure in premarket trading, after reporting quarterly revenue that fell below forecasts. The acquisition of Rite Aid (RAD) by Walgreens (WBA) is being opposed by a union representing about 6,000 Rite Aid workers. The union said the two drugstore chains don't go far enough to address antitrust concerns. Medtronic (MDT) is reportedly working with advisors to sell its medical supplies business, according to Bloomberg report. The unit could be worth $5 billion in a sale, according to analysts. WATERCOOLER Johnny Depp's former business managers https://click.response.cnbc.com/?qs=4edca8cfa2c14e264b8c6510e3c1a65167301d5c478efe9198598ebed982e8aaf9adc3c5c5a1c452aa5902b47fbfb4c6a51c9d3670090967 are countersuing the actor, claiming a $2 million per month lavish lifestyle caused his recent financial troubles, and the star ignored their repeated warnings. (AP) CONTRIBUTORS https://click.response.cnbc.com/?qs=4edca8cfa2c14e267cf25abec20501ed1702b2cba2fe08d6c77e3c677edd33d120c697e3b7ec9d911737de46ab7b3289d13d4589b4d65c1c https://click.response.cnbc.com/?qs=4edca8cfa2c14e267cf25abec20501ed1702b2cba2fe08d6c77e3c677edd33d120c697e3b7ec9d911737de46ab7b3289d13d4589b4d65c1c Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=4edca8cfa2c14e2620934fca436ee20cc945ea144001a6dad688297d2534ef925ddc729f4612c92da1c3b5d3821f97d286d5e484c6604f2f @Matt_Belvedere https://click.response.cnbc.com/?qs=4edca8cfa2c14e26ace2e2bb979b4d7d05de30a23d56d7138615994af580ffd43d0c5ea9523a05f251c631e89e1782717f1851fde862ca15 https://click.response.cnbc.com/?qs=4edca8cfa2c14e26ace2e2bb979b4d7d05de30a23d56d7138615994af580ffd43d0c5ea9523a05f251c631e89e1782717f1851fde862ca15 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=4edca8cfa2c14e26dc83ad39c4fa6aa4783ebf3c57a68dc8a2d285f5e016f5e51da092e1db4c5b52b5498a6fb1b33c99cdb181638eb26b5d @peterschack Feedback We value your input—use https://click.response.cnbc.com/?qs=4edca8cfa2c14e26ffc4d3e759e728447bb14694fa5818786ddb059e679489ba33cbce77f7bb1dbefe5e07352f34d92d4fdcd1289c13562e our simple form to let us know what you think. 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