Fwd: Wall Street limping to the finish for September

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From: CNBC Morning Squawk <morningsquawk@response.cnbc.com>
Date: Tue, Sep 29, 2015 at 1:23 PM
Subject: Wall Street limping to the finish for September
To: pascal.alter@gmail.com

U.S. stock futures were higher this morning, despite a 4 percent decline in Japanese stocks and a 2 percent drop for China shares. The Dow lost 312 points Monday.

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IN THE NEWS TODAY U.S. stock futures were higher this morning, despite a 4 percent decline in Japanese stocks and a 2 percent drop for China shares. The Dow lost 312 points or 2 percent Monday, barely holding the 16,000 level. The S&P 500 lost 2.5 percent, closing below 1,900. The Nasdaq lost 3 percent. (CNBC) The Nasdaq formed a "death cross" Monday, a decline in short-term momentum and often a precursor to future losses. The S&P, Dow, and small-cap Russell 2000 saw similar chart patterns in the past month. (CNBC) With two trading days left in September, stocks are testing this year's lows, and Goldman Sachs (GS) is cutting its year-end forecast for the S&P by 5 percent to 2,000, citing slower economic growth in the U.S. and China, and the fall in oil prices. (CNBC) Billionaire investor Carl Icahn said, in a new self-produced video called "Danger Ahead," he thinks stocks could go down "a lot more" as the market comes to grips with bubbles exacerbated by the Fed's zero interest rate policy. (CNBC) Cheniere Energy (LNG) saw Icahn raise his stake in the natural gas producer to 11.43 percent from the prior 9.59 percent, according to an SEC filing. (Reuters) Experts are beginning to warn of the dire financial impact if Glencore, one of the world's largest resource companies, is unable to control its skyrocketing debt load. Shares bounced today in London, after getting slammed Monday. (CNBC) After nearly two years of delays, Tesla (TSLA) kicks off Model X deliveries today . The electric SUV tops out at $132,000. Tesla has booked roughly 30,000 reservations for the vehicle. (WSJ) Ahead of Thursday's meeting with investors and analysts, General Motors (GM) CEO Mary Barra said the automaker plans new efforts to capitalize on the connectivity built into its cars. (Reuters) Shares of Valeant (VRX) lost nearly 17 percent Monday, with Democrats pressing the GOP chairman of the House Oversight Committee to force the company to turn over documents tied to triple-digit percentage increases in two heart drugs. (Reuters) In her first testimony to Congress since a series of sting videos, the president of Planned Parenthood is set to answer questions on Capitol Hill today, as conservatives try to find ways to defund the group. (Politico) Lawmakers are looking to rush a stopgap measure to President Barack Obama to avoid a government shutdown over Planned Parenthood funding when the new fiscal year begins Thursday. (Reuters) House Majority Leader Kevin McCarthy, who declared his candidacy to succeed House Speaker John Boehner, vowed to avoid another shutdown threat in December when the temporary funding ends and the debt ceiling needs to be raised. (CNBC) President Barack Obama plans to hold talks at the UN today, with Cuban leader Raul Castro for the second time this year. Obama met Monday with Russian President Vladimir Putin to talk about differences over Syria. (AP & NBC News) BY THE NUMBERS San Francisco Fed President John Williams is renewing his call for an interest rate hike "sometime later this year," citing near-full employment and rapidly rising house prices as possible signs of excessive economic optimism. The July Case-Shiller read on home prices is out at 9 a.m. ET, with economists looking for a 5.1 percent increase compared to a year earlier, after a June rise of 5 percent. The Conference Board's consumer confidence index, released at 10 a.m. ET, is expected to come in at 96.5 for September, down from the 101.5 reading for August. There are no prominent earnings reports due out this morning, but investors get the latest results from Costco (COST) after the bell this afternoon.  STOCKS TO WATCH Google (GOOGL) is expected to unveil two new Nexus smartphones, its new mobile operating system, and the next generation of its Chromecast streaming device at an event in San Francisco today. Yahoo (YHOO) plans to move ahead with the spinoff of its Alibaba (BABA) stake, even though the IRS has declined to rule whether it would be tax free. Yahoo expects to complete the move during the fourth quarter.  Microsoft (MSFT) has announced a change in its financial reporting, breaking out results differently to reflect the increasing significance of its mobile and cloud businesses.  A new cold-drink machine by Keurig Green Mountain (GMCR), launching today, will drive long-term growth, following recent sales declines in its core business of single-serve coffee pods and brewers, the CEO said.  Reynolds American (RAI) announced a $5 billion deal to sell assets to Japan Tobacco. The assets include trademarks for the Natural American Spirit cigarette brand outside the U.S.  Southwest Airlines (LUV) is so intent on strengthening its grip over Dallas Love Field that it's paying United Airlines (UAL) $120 million to control two more gates at the airport. Pepco Holdings (POM) and Exelon (EXC) have asked the District of Columbia to reconsider its prior rejection of their planned merger. The two sides are currently in discussions about a settlement of the disagreement.  WATERCOOLER A tap dancer, a writer, and a sociologist were among 24 winners of this year's "genius grants" of $625,000 over five years. They can spend to money any way they want, no strings attached. (AP) CONTRIBUTORS Matthew J. Belvedere Senior Producer @Matt_Belvedere Peter Schacknow Senior Producer @peterschack Tom DiChristopher Web and TV producer Feedback We value your input—use our simple form to let us know what you think. Click here for Real-Time data and top stories on your desktop or mobile device. Send this email to a friend   (...)Advertise More Newsletters Digital Products © 2015 CNBC Inc. All Rights Reserved. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632

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