Here are five things you must know for Tuesday, Oct. 22:
1. -- Stock Futures Flat Amid Optimistic Trade Talk
U.S. stock futures were flat Tuesday as investors focused on a wave of corporate earnings and talk from officials in both Washington and Beijing on the status of their ongoing trade negotiations was optimistic.
Contracts tied to the Dow Jones Industrial Average rose 5 points, futures for the S&P 500 were up 0.25 points, and Nasdaq futures gained 5.75 points.
Donald Trump told reporters Monday he hoped to sign a trade deal with China next month at a summit in Chile, "or whenever that might be." Larry Kudlow, White House economic adviser, said that if current talks go well the president might put off imposing more tariffs planned for December but he couldn't guarantee it.
China's Vice Foreign Minister Le Yucheng, meanwhile, said that any trade problems could be resolved as long as both sides respected one another. The world wants China and the United States to end their trade war, he said, Reuters reported.
The U.S. and China, the world's two largest economies, reached a tentative agreement for the "first phase" of a trade deal less than two weeks ago.
The economic calendar in the U.S. Tuesday includes Existing Home Sales for September at 10 a.m. ET.
2. -- McDonald's, Procter & Gamble and UPS Report Earnings
Earnings reports are expected Tuesday from McDonald's (MCD - Get Report) , Procter & Gamble (PG - Get Report) , United Parcel Service (UPS - Get Report) , United Technologies (UTX - Get Report) , Texas Instruments (TXN - Get Report) , Travelers (TRV - Get Report) , Chipotle Mexican Grill (CMG - Get Report) , Lockheed Martin (LMT - Get Report) , Snap (SNAP - Get Report) , JetBlue Airways (JBLU - Get Report) , Kimberly-Clark (KMB - Get Report) , Harley-Davidson (HOG - Get Report) , Biogen (BIIB - Get Report) and Whirlpool (WHR - Get Report) .
3. -- Chevron Gets Approval to Operate in Venezuela Through January
The approval from the U.S. Treasury Department allows the oil giant - the last U.S. operating energy company in Venezuela - to operate there through Jan. 22.
The United States in January imposed sanctions on Venezuela's state-run oil company, PDVSA, in an effort to oust President Nicolas Maduro by choking off revenue from the world's largest crude reserves. But it issued Chevron a six-month license to operate, which has now been renewed for two three-month periods.
Chevron executives "remain focused on our base business operations and supporting the more than 8,800 people who work with us and their families," spokesman Ray Fohr told Reuters.
4. -- WeWork's Board to Evaluate Emergency-Financing Options
WeWork's board is expected to meet Tuesday to weigh emergency-financing options including a takeover by SoftBank (SFTBY) that would slash the office space rental operator's valuation to about $8 billion.
The board will consider a financing plan from SoftBank to lend the cash-burning company $5 billion as well as accelerating a previously agreed to investment round of $1.5 billion, The Wall Street Journal reported, citing people familiar with the matter..
The board also is expected to consider a separate plan from JPMorgan Chase (JPM - Get Report) , a $5 billion debt package backstopped by the bank that would bring together a group of outside investors including Barry Sternlicht's Starwood Capital Group, according to the Journal.
A special committee of WeWork's board is expected to reach a decision on which bid to accept this week.
5. -- TD Ameritrade Jumps as Earnings Beat Forecasts
Adjusted earnings were $1.05 a share vs. estimates of 98 cents. Net revenue was $1.6 billion, higher than analysts' forecasts of $1.47 billion.
"We saw record trading in the fiscal year, averaging 860,000 trades per day, and gathered a record $93 billion in net new client assets," CEO Tim Hockey said in a statement.
TD Ameritrade earlier this month said it was dropping commissions for its online exchange-listed stock, ETF and option trades. The company expects a dent in revenue to the tune of $220 million to $240 million per quarter.
"Earnings are expected to decline in the first quarter of fiscal year 2020, but with a stronger competitive position, we expect to see stronger organic growth," said Chief Financial Officer Steve Boyle.
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