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=95ecf54b7b25a6733161b0ab9cc4c50c995886fcf59711d49967fba1700f2b5d7c5d106b5a760f984982931b2541a5877daaf24a838af9f961c4120b3476e92cCNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=95ecf54b7b25a6733161b0ab9cc4c50c995886fcf59711d49967fba1700f2b5d7c5d106b5a760f984982931b2541a5877daaf24a838af9f961c4120b3476e92c here. https://click.response.cnbc.com/?qs=78cd005ce8720f30212d5fe1633c8e51dfecd1af208eb9bea298463b90f6e01eddbf949198ba33c28a4775f6def3f1831437ca5823528ab8 https://click.response.cnbc.com/?qs=78cd005ce8720f30eeb945b7ccf7acb3a34e550cd3938a6c349c8382c7f392fd33e218f5e28630055c6e0a6617bdbc61f6621f5342ab97d3 IN THE NEWS TODAY Futures are relatively flat – https://click.response.cnbc.com/?qs=78cd005ce8720f302ceb33f86f4101fd810d588cd2d14e793591a046111f0dddc32cdef4db4f978b289996a3ee3c00137f2808d0293533d3 but still mostly positive – following a day that saw the Dow, S&P 500 and Nasdaq close at record highs once again. The Dow has risen for eight consecutive sessions, while the S&P 500 and Nasdaq have been higher for eight of the last nine trading days. The S&P 500 is now on track to post its largest monthly gain since March 2016. (CNBC)Oil prices remain https://click.response.cnbc.com/?qs=78cd005ce8720f30b509602eb0e6dd54519f507838f18ae59e5e11c30c0e241576743422bff526c2c079270d9006af3d40dcba3bee123412 close to multiweek highs after OPEC and other producers showed optimism over promised cuts to high crude oil output, which has oversupplied the oil market since 2014. (CNBC)The https://click.response.cnbc.com/?qs=78cd005ce8720f30ca0898f3fed37fb768209a7bdfc515425efd36ba2a11213a3bf262db43627ef89f675332d6ed30510e31ea63a89b1344 U.S. dollar lost some steam in Asian trading as investors looked to the Federal Reserve's release of minutes from its latest meeting, which will shed light on the pace of possible interest rate raises. (Reuters) https://click.response.cnbc.com/?qs=78cd005ce8720f30bd07a96aa36feabbb82f7308beaab86d04eb79e858e7ff51591a83da34dce43980f5960dc621c13568ef72f45a2ed575 https://click.response.cnbc.com/?qs=78cd005ce8720f3084e15ddd050be9d7d935ee7509e10a6c74cdd75f45cb8e00585addd3422a3853ea2848657ba93a385dcc17c7c495f26b https://click.response.cnbc.com/?qs=78cd005ce8720f3053ebdf277bb14fefd20c618bca17e0abb85cbcc8950e7df9955a1b1e418be715c484e79a82c9680624c9e5368f012298 Nearly all undocumented immigrants will be https://click.response.cnbc.com/?qs=78cd005ce8720f30ef807e1d63c0decc46eeb986a528ea4b088a732058ed396cb5093f6da59d7e0b201dae82af36c985b24d44571b679f48 subject to deportation under President Donald Trump's administration, but protections will remain for those known as "dreamers," who illegally entered the United States as children. (Reuters)Secretary of State Rex Tillerson attested to the importance of a productive relationship between the https://click.response.cnbc.com/?qs=78cd005ce8720f3074a740030ac7efee91e5c8b5140162a521752b3a0e29b107e56a602ce25b706584c714371661018f5c023223839be87c United States and China while on the phone with China's top diplomat. The two agreed that the threat posed by North Korea is a pressing matter. (Reuters)Tillerson and Homeland Security Secretary John Kelly https://click.response.cnbc.com/?qs=78cd005ce8720f305a6c7707a6687cdf53f650a750c0450bec80e7b43c5588209914a383c52322f486c2e484daea2c67d928077eb2102c0c will travel to Mexico this week to meet with Mexican President Enrique Pena Nieto and other top officials to discuss border security among other issues. (Reuters)Trump https://click.response.cnbc.com/?qs=78cd005ce8720f30c60a7ccee94e71b79a43400b16598d724a92d31db80ce856f98e167aee773f30d51de10926075552b21da395a2d0b843 espoused a theory on Twitter in response to unrest seen at town hall events across the country, saying the "so-called angry crowds" are many times "planned out by liberal activists." (USA Today) In an effort to get ahead of Trump's planned regulatory cutback, https://click.response.cnbc.com/?qs=78cd005ce8720f3026d40591ae5acc4923e5f3190a4d18e2ba6df0fed8f93a58adf130e112543dadb28aa8e9b96d19f10df1f844d265f76b automakers asked the EPA to roll back some of the Obama administration's strict fuel-economy and emissions standards. (WSJ)Shares of Fannie Mae and Freddie Mac https://click.response.cnbc.com/?qs=78cd005ce8720f30c429049e001ec8d48525feb29102d1a1136ed4db213402d5acb56ecf52219a3da1d280a41271330a7dee16a24b5ab179 plunged by more than 30 percent on Tuesday following a ruling by a U.S. appeals court dismissing hedge funds' claims that the government seized Fannie's and Freddie's profits after their taxpayer bailout. (Reuters)JPMorgan Chase (JPM), HSBC (HSBC) and Morgan Stanley (MS) have reportedly been chosen as lead underwriters for the initial public offering planned by Saudi Aramco, https://click.response.cnbc.com/?qs=78cd005ce8720f300aef919bc8ba48f1e1721e891b3e193418e1454ce3630d64a89a53823aa338248da648ca691f89a7fa08dc8275ef635b according to The Wall Street Journal . The offering by the state-run Saudi oil company would be the largest ever, with the public stake worth as much as $150 billion and the entire company valued at more than $2 trillion.Restaurant Brands International, parent of Burger King and Tim Hortons, said Tuesday that it would https://click.response.cnbc.com/?qs=78cd005ce8720f30d63d1310f065559e7f9daadc04493f66d3386b0e77c15db83de6f215954cf5be88a565a92ecb09d8b35442336d997264 buy Popeyes Louisiana Kitchen for $1.8 billion in cash. (CNBC) https://click.response.cnbc.com/?qs=78cd005ce8720f30a3bfa5c838f9896cb5a70659930e61248801abe9bd205f1dccad0d663d94f8118742b837bdcfdc45bce22d66ad5d90f5 Carl Icahn took a stake in Bristol-Myers Squibb, raising concerns about a future sale of a company already under pressure from another activist investor. (WSJ)Wednesday marks the launch of https://click.response.cnbc.com/?qs=78cd005ce8720f30d35bda241bc5eb29b2e6f215d8afd61c1272f7cd6c1e3b8b3587f84e8a0c14d1c55c72189039faadb502b087468c562d a new advocacy group , Patients for Affordable Drugs, that aims to target high drug prices and combat the pharmaceutical industry's push to keep regulations loose. (USA Today)Authorities ordered evacuations for https://click.response.cnbc.com/?qs=78cd005ce8720f300726aff69ec345ed3a521e4056f57cdcf1582195791fd85d22dacd9c38c7258ec421b098dd8b4783cac84f3b39dce542 over 1,000 homes in San Jose due to waist-high flooding in California's third-largest city. The city, which has about 1 million residents, declared a state of emergency. (Reuters)BY THE NUMBERS Just one economic report is out Wednesday, with the National Association of Realtors releasing its January existing home sales report at 10:00 a.m. ET. Consensus forecasts call for a 1.1 percent increase to an annual rate of 5.55 million units, following December 2.8 percent decline.The marquee event of the day for investors will be the release of the minutes from the most recent meeting of Fed policymakers, out at 2:00 p.m. ET. There will also be two Fed-related speeches, with Fed Governor Jerome Powell and Dallas Fed President Rob Kaplan making public appearances.The usual Wednesday release of the Energy Department's oil and gas inventories report is delayed a day by the Presidents Day holiday – it will be out Thursday.Quarterly earnings reports out this morning include Dish Network (DISH), Garmin (GRMN), Mobileye (MBLY), Norwegian Cruise Line (NCLH), Six Flags (SIX), Southern Co. (SO), TJX (TJX) and Wolverine World Wide (WWW).After-the-bell reports out Wednesday include Boston Beer (SAM), Cheesecake Factory (CAKE), Fitbit (FIT), HP Inc. (HPQ), Jack In The Box (JACK), L Brands (LB), Public Storage (PSA), Realty Income (O), Square (SQ), Sturm Ruger (RGR), Tesla (TSLA), Transocean (RIG) and Tronc (TRNC).STOCKS TO WATCH Tribune Media (TRCO) is among our stocks to watch, after news that activist investor Starboard Value has raised its stake in the TV station operator to 6.6 percent from 2.3 percent. Starboard also has a stake in Tronc, the newspaper business spun off from Tribune in 2014.Texas Roadhouse (TXRH) reported quarterly profit of 29 cents per share, 9 cents below estimates, and the restaurant chain's revenue also missed Street forecasts. Comparable restaurant sales were up 1.2 percent, short of the 3.1 percent consensus estimate. The company points to higher wages as well as other expenses that negated the benefit of lower input costs.First Solar (FSLR) beat estimates by 27 cents with adjusted quarterly profit of $1.24 per share, and the solar company's revenue also beat estimates. The company raised its 2017 revenue guidance, due to the timing of a new contract, but also said it had to cancel a planned Arizona facility due to opposition to its location.Facebook (FB) is in talks with Major League Baseball to live stream one game per week, according to a Reuters report.Pfizer (PFE) will delist its shares from both the Swiss Exchange and the London Stock Exchange. The drug company's shares will continue to trade on the New York Stock Exchange.Toll Brothers (TOL) reported quarterly profit of 42 cents per share, 7 cents above estimates, while the luxury homebuilder's revenue beat forecasts by a wide margin. However, overall profit was down 3.8 percent from a year ago, impacted by lower average selling prices.WATERCOOLER The https://click.response.cnbc.com/?qs=78cd005ce8720f3032d58203af04175ad77e459a1cd792952deef125c2214114882bf8e24ab613ef5cb425e0a54649093c15544d9cccb6f1 $403 million Powerball jackpot will see a slew of contenders before the winning numbers are drawn at 11 p.m. ET. The prize is the 10th largest in the history of the lottery. (USA Today)Basketball legend https://click.response.cnbc.com/?qs=78cd005ce8720f307baa642208751a7ad08576de937d5f39835179878417b8e5c0628265cf79c52b85025e6d761ddc96062e749a2ab9c3ea Magic Johnson was named the Lakers' president of basketball operations. The Hall of Famer will oversee the team's business, stepping in ahead of Thursday's trade deadline. (Sports Illustrated) CONTRIBUTORS https://click.response.cnbc.com/?qs=78cd005ce8720f30ee15faa50cf55f8b40e7c0f161fa507a41484544681b9b1956a60b08f547c4ee2989af9bd17f7d28e0da9a9dc90c8972 https://click.response.cnbc.com/?qs=78cd005ce8720f30ee15faa50cf55f8b40e7c0f161fa507a41484544681b9b1956a60b08f547c4ee2989af9bd17f7d28e0da9a9dc90c8972 Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=78cd005ce8720f3083d067e9c8266b54791fdd354e8756f1936447bc5309db9076d3ccbac621f60d6b446cb299f0d3fb287791b4924fc67d @Matt_Belvedere https://click.response.cnbc.com/?qs=78cd005ce8720f30d10dc6aa3c033edbf5a1f9ef5f7bece67aa7278c47697f7ec76e698bdef4c0de78542cbadc0c13ecd35a097e3dc10183 https://click.response.cnbc.com/?qs=78cd005ce8720f30d10dc6aa3c033edbf5a1f9ef5f7bece67aa7278c47697f7ec76e698bdef4c0de78542cbadc0c13ecd35a097e3dc10183 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=78cd005ce8720f30cae04ce4329721979a521f43c54ebeb8cabb1ad64beb256fe3d8d61d2c0175e44a5260b6af7bfed64a9fa13197e88451 @peterschack Feedback We value your input—use https://click.response.cnbc.com/?qs=78cd005ce8720f30fb57282e8632bcfd1ae2ff9e982a67647a26db6c2085cf8ea5805c6e251f23cfe17246028a53f6fef6eba9fd49bede31 our simple form to let us know what you think. 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