1. Dow to get back on track, nearing record again
Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, January 24, 2020.
Lucas Jackson | Reuters
U.S. stock futures were pointing to a higher Wall Street open on Tuesday, with the Dow Jones Industrial Average less than 0.5% away from record highs. Monday’s bounce-back after Friday’s decline sent the S&P 500 and Nasdaq to all-time closing highs. Federal Reserve Chairman Jerome Powell testifies Tuesday and Wednesday in the first of his twice-a-year economic updates to Congress, with investors listening for commentary on any coronavirus impact on the U.S. growth. Hedge fund billionaire Ray Dalio told attendees of the annual Milken Conference in Abu Dhabi that he thinks the coronavirus’ hit to global markets is probably exaggerated.
2. Coronavirus cases continue to rise in China
Medical staff check a patient’s condition at a temporary hospital converted from “Wuhan Livingroom” in Wuhan, central China’s Hubei Province, Feb. 10, 2020.
Xiong Qi | Xinhua | Getty Images
Chinese health officials said overnight that confirmed cases of coronavirus in China rose to over 42,000, with the death toll there exceeding 1,000. Beijing’s top economic adviser told Reuters on Tuesday that coronavirus may peak there in February, before cases then start to plateau and ease over the coming months. However, The director-general of the World Health Organization warned that while almost all cases are in China, the virus poses a “very grave threat” for the rest of the world. The CDC confirms the 13th case in the United States.
3. New Hampshire primary pits Sanders against Buttigieg
Democratic 2020 U.S. presidential candidates (L-R) entrepreneur Andrew Yang, former South Bend Mayor Pete Buttigieg, Senator Bernie Sanders (I-VT), former Vice President Joe Biden, Senator Elizabeth Warren (D-MA), Senator Amy Klobuchar (D-MN) and billionaire activist Tom Steyer pose before the eighth Democratic 2020 presidential debate at Saint Anselm College in Manchester, New Hampshire, U.S., February 7, 2020.
Bryan Snyder | Reuters
4. Amazon wants to question Trump over JEDI contract
The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018.
Ivan Alvarado | Reuters
Amazon is seeking to question President Donald Trump, Defense Secretary Mark Esper and former Defense Secretary James Mattis over a $10 billion Pentagon cloud contract awarded to Microsoft. Amazon Web Services said it’s looking to depose seven “individuals who were instrumental” in the JEDI, or Joint Enterprise Defense Infrastructure, source selection. AWS sent CNBC in a statement, which reads in part, “President Trump has repeatedly demonstrated his willingness to use his position as President and Commander in Chief to interfere with government functions.”
5. Sprint soar on expected ruling on T-Mobile deal
T-Mobile CEO John Legere (L) and Executive Director of Sprint Marcelo Claure pose for photographs before testifying to the House Judiciary Committee’s Antitrust, Commercial and Administrative Law Subcommittee in the Rayburn House Office Building on Capitol Hill March 12, 2019 in Washington, DC.
Chip Somodevilla | Getty Images
Sprint shares skyrocketed more than 60% in extended hours trading Monday evening and premarket trading Tuesday morning, after a report in the Wall Street Journal said that a U.S. District judge is expected to rule in favor of the wireless carrier’s deal with T-Mobile. Shares of T-Mobile were up over 7% in trading ahead of Wall Street’s open on Tuesday. CNBC ‘s Andrew Ross Sorkin also confirmed the news in a New York Times article. The decision is expected to be made public Tuesday. However, a deal can’t close until the California Public Utilities Commission approves the transaction, which still hasn’t occurred nearly two years after its announcement.