Here are five things you must know for Monday, April 16:  

1. -- Stocks Higher After Strike on Syria

U.S. stock futures were rising Monday, April 16, as concerns over prolonged military action in Syria faded and the focus for investors shifted to a heavy upcoming slate of U.S. corporate earnings.

Contracts tied to the Dow Jones Industrial Average rose 152 points, while those linked to the broader S&P 500 gained 15.70 points. Futures for the Nasdaq were up 41.50 points.

Donald Trump on Saturday, April 14, declared "Mission Accomplished" for a U.S.-led allied missile attack on Syria's chemical weapons program. The U.S., U.K. and France in the early hours of Saturday conducted a coordinated missile attack described as a "limited, targeted, effective strike" on targets in Syria in response to a suspected chemical weapons attack by the forces of President Bashar al-Assad in Douma last week.

The conflict in Syria appeared to be having little impact on trading with Wall Street turning instead to earnings reports Monday from Bank of America Corp. (BAC)  and Netflix Inc. (NFLX) .

Bank of America reported first-quarter profit of 62 cents a share, 3 cents ahead of estimates. The bank said sales and trading revenue in the quarter rose 6% to $4.1 billion.

Bank of America shares rose 0.7% in premarket trading on Monday.

Earnings reports are expected later in the week from Goldman Sachs Group Inc.  (GS)  , Morgan Stanley (MS)  , Johnson & Johnson (JNJ) , General Electric Co  (GE) , International Business Machines Corp. (IBM) and UnitedHealth Group Inc.  (UNH) .

UnitedHealth and Goldman Sachs are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells the stocks? Learn more now.

The U.S. economic calendar on Monday includes Retail Sales for March at 8:30 a.m. ET, and the Empire State Manufacturing Survey for April at 8:30 a.m.

If you'd like to receive the free "5 Things You Must Know" newsletter, please register here.

2. -- Comey Says Trump 'Morally Unfit' to Be President

Former FBI Director James Comey said in an interview aired Sunday, April 15, that he thinks it's possible the Russians have compromising information on Donald Trump, that there is "some evidence of obstruction of justice" in the president's actions and that Trump is "morally unfit" for office.

Hours before the interview aired, Trump, who fired Comey last year, unleashed a Twitter outburst that labeled Comey "slippery," suggested he should be put in jail and branded him "the WORST FBI Director in history, by far!"

Comey's interview aired two days before the release of his new book, ""A Higher Loyalty."

Comey, up until the time he was fired in May, led an investigation into possible ties between Russia and the Trump campaign. During the interview with ABC News' chief anchor George Stephanopoulos, Comey said "it's possible" that Russia has some damaging information on Trump. Comey said he it was unlikely, but he wasn't sure.

"These are more words I never thought I'd utter about a president of the United States, but it's possible," Comey told Stephanopoulos.

3. -- CEO Martin Sorrell Quits WPP

WPP PLC (WPP)  CEO Martin Sorrell quit over the weekend, marking a stunning downfall for one of the advertising industry's most well-known figures.

WPP recently began an independent investigation into Sorrell, 73, after reports of personal misconduct and inappropriate use of company funds. Sorrell denied the allegations, and made no mention of them in a letter to employees.

"As I look ahead, I see that the current disruption we are experiencing is simply putting too much unnecessary pressure on the business, our over 200,000 people and their 500,000 or so dependents, and the clients we serve in 112 countries, Sorrell said. "That is why I have decided that in your interest, in the interest of our clients, in the interest of all shareowners, both big and small, and in the interest of all our other stakeholders, it is best for me to step aside."

American depositary receipts of WPP were down 6.1% in premarket trading on Monday. Shares have fallen 6.7% so far in 2018.

4. -- Qualcomm to Refile China Application for NXP Takeover

Qualcomm Inc. (QCOM) will refile as early as Monday an application with the Chinese government to clear its $44 billion takeover of NXP Semiconductors N.V. (NXPI) , sources told Reuters.

The U.S. chipmaker withdrew its earlier antitrust application on Saturday at the request of China's commerce ministry, just days before the regulator's April 17 deadline to decide on the transaction expires, the sources said.

Acquiring NXP is crucial to Qualcomm, which is seeking to diversify its customer base and become the leading chip supplier to the fast-growing automotive market. 

Qualcomm already has received approval from eight of nine required global regulators to finalize the acquisition, with Chinese clearance the only one left remaining. 

5. -- Starbucks CEO Apologizes After Arrest of 2 Black Men

Starbucks Corp. (SBUX)    was down 0.4% in premarket trading after CEO Kevin Johnson apologized for the arrest of two black men in one of the coffee chain's Philadelphia stores last week and promised to investigate the alleged incident of racial profiling.

Protesters were reported to be targeting Starbucks stores in response to the incident, which saw two black men arrested by police on April 12 after an apparent call from a company employee who grew concerned after the pair sat down but didn't order any drinks. However, white customers in the store -- one of whom captured the arrest on video -- insisted the two men, later identified as real estate brokers, were doing nothing more than chatting quietly as they waited for a friend to arrive.

"The video shot by customers is very hard to watch and the actions in it are not representative of our Starbucks mission and values," Johnson said in a statement. "The basis for the call to the Philadelphia police department was wrong."

Retirement is coming. It's never too early -- or too late -- to plan, save and invest for the retirement you want and deserve. Let TheStreet's new premium subscription newsletter, Retirement Daily, give you the insider's edge on how to maximize and protect your most important investment, your retirement savings. Learn more about Retirement Daily and get a free trial subscription.

 

More from Markets

China Trade, Theresa May, Nvidia and Tencent Music - 5 Things You Must Know

China Trade, Theresa May, Nvidia and Tencent Music - 5 Things You Must Know

Stocks Edge Higher on US-China Trade Hopes: UK PM Faces Leadership Challenge

Stocks Edge Higher on US-China Trade Hopes: UK PM Faces Leadership Challenge

Tuesday Turnaround: Google Gets Grilled

Tuesday Turnaround: Google Gets Grilled

Nvidia Shares Fall as SoftBank Reportedly Plans to Sell Its Stake

Nvidia Shares Fall as SoftBank Reportedly Plans to Sell Its Stake

Stocks End Mixed as China Trade Progress Offsets D.C. Dysfunction

Stocks End Mixed as China Trade Progress Offsets D.C. Dysfunction