1. Dow to open lower as new deadline on US tariffs on Chinese goods looms
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, April 17, 2013. U.S. stocks sank, erasing yesterday's rally, amid losses in industrial metals and disappointing results from Bank of America Corp.
Scott Eells | Bloomberg | Getty Images
U.S. stock futures were indicating a lower Wall Street open on Tuesday after the Dow Jones Industrial Average started the week breaking a three-session winning streak. Investors are watching for progress on U.S.-China talks on a "phase one" trade deal ahead of Sunday's deadline for new American tariffs against Chinese goods. The South China Morning Post reports Tuesday that China and the U.S. are unlikely to reach a trade deal this week. In perhaps a positive sign, based on analysis of Chinese and U.S. data, Chinese imports of American soybeans between September and November increased 13 times from the same period last year. The Federal Reserve cut interest rates three times in 2019 to inoculate the U.S. economy against a global slowdown exacerbated by trade scuffles. The Fed finishes its final meeting of the year on Wednesday. Central bankers are seen keeping rates at current levels until at least the summer of 2020, according to the CNBC Fed Survey.
2. Democrats and Trump administration near deal on USMCA
US President Donald Trump shakes hands with House Speaker Nacy Pelosi as they attend the 38th Annual National Peace Officers Memorial Service on May 15, 2019, in Washington, DC.
Brendan Smialowski | AFP | Getty Images
House Democrats and the Trump administration are nearing a deal on the replacement for the 1994 North American Free Trade Agreement after more than a year of deliberations, sources told CNBC. If the White House sends ratifying legislation to Congress by Sunday to kick off the approval process, the Democratic-held House could vote on ratifying the United States-Mexico-Canada Agreement by Dec. 18, two sources informed by the White House told CNBC. House Speaker Nancy Pelosi will make final scheduling determinations, and the USMCA vote could come right after a vote on articles of impeachment against President Donald Trump, these sources said.
3. House Dems set to announce impeachment articles against Trump
President Donald Trump speaks during a a roundtable discussion on "education choice" at the White House in Washington, December 9, 2019.
Tom Brenner | Reuters
Democrats in the House plan to announce two articles of impeachment — abuse of power and obstruction of Congress — against Trump on Tuesday, multiple sources told NBC News. The House Judiciary Committee heard from lawyers for both parties for more than nine hours Monday on findings from the House Intelligence Committee's impeachment inquiry over allegations that the president withheld aid to pressure Ukraine to investigate former Vice President Joe Biden. Pelosi's office announced late Monday that leaders of the various committees involved in the probe will "announce the next steps in the House impeachment inquiry" during a 9 a.m. ET news conference.
4. Netflix downgraded on concern about new streaming competition
A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019.
Jaap Arriens | NurPhoto | Getty Images
Needham downgraded Netflix on Tuesday with the firm's analyst, Laura Martin, predicting the company may lose as many as 4 million U.S. subscribers next year in its premium tier. Martin moved her rating to underperform, equivalent to a sell, from hold. She said she's concerned that the company's balance sheet can't "withstand lower revenue." Netflix has come under increased pressure as the streaming wars heat up with the recent launch of Disney+ and Apple TV+. Netflix shares were down more than 2% in premarket trading. The stock is up about 13% for the year, about half the gains of the S&P 500 in 2019. As of the end of the third quarter, Netflix had just over 60 million U.S. subscribers.
5. Morgan Stanley poised to make job cuts on worries about global uncertainty
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York.
Michael Nagle | Bloomberg | Getty Images
Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, according to people with knowledge of the situation. The job reductions at the investment bank, the world's biggest equities trading firm and a leading M&A advisor, will hit technology and operations roles hardest, said the people, who declined to be identified. New York-based Morgan Stanley had 60,532 employees as of Sept. 30. A company spokesman declined to comment. In October, the bank posted third-quarter profit and revenue figures that beat analyst expectations. Morgan Stanley shares were down less than 1% in the premarket. For the year, the stock is up about 25%, roughly matching the 2019 return for the S&P 500.
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December 10, 2019 at 07:41PM
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5 things to know before the stock market opens Tuesday - CNBC
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