Here are five things you must know for Thursday, Sept. 6:
1. -- U.S. Stocks Seen Higher Despite Escalation in U.S.-China Trade War
U.S. stock futures were rising slightly on Thursday, Sept. 6, even as investors braced for another potentially damaging escalation in the ongoing trade war between the U.S. and China.
Contracts tied to the Dow Jones Industrial Average
Investors were eyeing developments in the U.S.-China trade war as the public comment period on the impact of fresh tariffs on $200 billion worth of China-made goods concludes later Thursday and will allow Donald Trump to apply the tariffs whenever he sees fit.
"We've done very well in negotiations with China but we're not prepared to make the deal that they'd like to make," Trump told reporters Wednesday in Washington. "We'll continue to talk to China. I have great respect for President Xi. But right now we just can't make that deal."
The economic calendar in the U.S. on Thursday includes the ADP National Employment Report for August at 8:15 a.m. ET, weekly Jobless Claims at 8:30 a.m., Productivity and Costs for the second quarter at 8:30 a.m., the PMI Services Index for August at 9:45 a.m., Factory Orders for July at 10 a.m., the ISM Non-Manufacturing Index for August at 10 a.m., and weekly Oil Inventories at 11 a.m.
Lands' End Inc. (LE) fell 13.4% in premarket trading on Thursday after the clothing maker reported a second-quarter loss of 16 cents a share, wider than a year earlier. Revenue in the quarter rose 1.9% to $307.9 million, but same-store sales declined 5.8%.
Earnings reports are also expected Thursday from Broadcom Inc. (AVGO) , Palo Alto Networks Inc. (PANW) Barnes & Noble Inc. (BKS) , Marvell Technology Group Ltd. (MRVL) and Dell Technologies Inc. (DVMT) .
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2. -- Two Healthcare Mega Deals Close to Getting Approval from DOJ
The Justice Department is preparing to give the OK to two mega healthcare deals: CVS Health Corp.'s (CVS) planned acquisition of health insurer Aetna Inc. (AET) , and Cigna Corp.'s (CI) planned purchase of Express Scripts Holding Co. (ESRX) .
The Wall Street Journal, citing people familiar with the matter, said both deals could receive formal antitrust approval as soon as the next few weeks.
CVS and Aetna will be required to sell off assets related to Medicare drug coverage to resolve competition concerns over the $70 billion deal, some of the people familiar with the matter said.
The DOJ's approval of the $54 billion Cigna and Express Scripts merger could come without the government requiring the companies to sell off any assets, some of the people told the Journal.
3. -- CBS and National Amusements in Talks to Settle Legal Squabble
CBS Corp. (CBS) and National Amusements Inc., the holding company run by the Redstone family, are in settlement talks over corporate control and a possible merger with Viacom Inc. (VIAB) , according to Deadline Hollywood.
Sources told Deadline Hollywood that CBS board members met throughout the Labor Day weekend to discuss resolving the case against its controlling shareholder, National Amusements.
The trial is scheduled to begin on Oct. 3 in Delaware.
The talks haven't resolved issues surrounding CBS CEO Les Moonves, who has been accused of sexual harassment and sexual assault, Deadline Hollywood reported.
4. -- FBI Is Investigating AmEx's Foreign-Exchange Pricing
The investigation is in its early stages, the people said, and is focused on whether AMEx's foreign-exchange international payments department misrepresented pricing to clients in order to win their business.
The FBI began its investigation in August, the people said, after the Journal reported that AmEx's foreign-exchange unit had recruited business clients with offers of low currency-conversion rates before raising prices without warning.
An AmEx spokeswoman declined to comment on the Journal's report about the FBI investigation.
The stock fell 0.3% in premarket trading.
5. -- Papa John's International President to Retire
Timothy O'Hern, president of Papa John's International Inc.'s (PZZA) international division, is retiring from the troubled company.
O'Hern, who also serves as the company's chief development officer, told the pizza company on Wednesday that he was retiring, according to a filing with the Securities and Exchange Commission, CNNMoney reported.
In July, Forbes published a piece that said founder John Schnatter used the N-word during a media training session in May. The account had a cascading effect on the company, which led to Schnatter stepping down as board chairman and a series of actions taken by the board to limit the founder's role in the company.
Papa John's said in July it was conducting an investigation into its diversity and inclusion processes. O'Hern's departure wasn't related to the investigation, a spokesperson told CNNMoney.
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