Wednesday, November 14, 2018
Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe
What to watch today
The Labor Department will report monthly Consumer Price Index readings for October on Wednesday. Core CPI excluding volatile food and energy is expected to have grown 0.2% month-over-month in October, versus 0.1% in September. In the 12 months through October, CPI is expected to have increased 2.5%, versus 2.3% for the year through September.
Meanwhile, the earnings calendar has begun to clear as the vast majority of S&P 500 companies have now reported quarterly results. Department store Macy’s (M) will report before market open Wednesday, while Cisco (CSCO) will deliver results after market close. Canopy Growth Corporation will be the next major pot stock to report earnings, following results from Tilray (TLRY) and Aurora Cannabis (ACB) earlier this week.
Don’t be fooled — the biggest Brexit battle starts now: The world has been watching with bated breath over any semblance of a breakthrough on Brexit talks. And on Tuesday, the biggest development was made — an actual draft text was agreed upon between UK prime minister Theresa May and her counterparts in the European Union. [Yahoo Finance UK]
U.S. October budget deficit jumps to $100.5 billion: The Treasury Department said Tuesday that the deficit shot up 59 percent from the same month a year ago. Last year’s October deficit was smaller because the government paid $48 billion in benefits in September because Oct. 1 fell on the weekend. [AP]
Tilray reports lower pot prices, tighter margins.: Tilray (TLRY) reported solid revenue but a decline in average selling prices as it works to address a growing medical and adult-use market. Although Tilray more than doubled the amount of cannabis sold in the third quarter of 2018 over last year, average selling prices fell, putting pressure on margins. [Yahoo Finance]
Juul halts flavored e-cig retail sales, removes social media presence: The nation’s leading e-cigarette manufacturer Juul Labs released plans Tuesday to curtail the underage use of its products after facing mounting pressure from the U.S. Food and Drug Administration. Juul said it will stop selling flavored e-cigarettes to all of the 90,000 retail locations where they are currently sold and it will be removing its Facebook and Instagram accounts. [Yahoo Finance]
DOJ, SEC are investigating Snap IPO disclosures: Snap Inc. (SNAP) said the U.S. Justice Department and Securities and Exchange Commission are looking into allegations it misled investors ahead of its initial public offering last year. [Bloomberg]
Coverage from Yahoo Finance All Markets Summit
The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.