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Stocks start from record highs; Watching Wynn; NAFTA talks

1. Stock market overview: U.S. stock futures were...

Posted: Jan 29, 2018 11:38 AM
Updated: Jan 29, 2018 11:38 AM

1. Stock market overview: U.S. stock futures were a bit sluggish Monday after major indexes hit fresh record highs last week.

Asian markets closed with mixed results, and European markets also struggled to find direction.

The Dow Jones industrial average, S&P 500 and Nasdaq all rose by more than 2% over the past week to hit all-time highs.

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2. Watching Wynn: Investors are closely monitoring shares in casino firms Wynn Macau and Wynn Resorts.

Shares in Wynn Resorts plunged more than 10% Friday after a Wall Street Journal story detailed numerous allegations of sexual misconduct against founder and CEO Steve Wynn.

Wynn denied the charges in the Journal story.

"The idea that I ever assaulted any woman is preposterous," he said in a statement that the company sent to CNN.

On Monday, Wynn Macau stock fell 6.5% in Hong Kong.

The board of directors of Wynn Resorts has formed a special committee to investigate the allegations. Wynn resigned his position as finance chairman for the Republican National Committee on Saturday.

3. NAFTA talks: American, Mexican and Canadian officials are meeting Monday in a bid to move ahead on renegotiating NAFTA, a free trade deal between the three countries.

Round six of the talks is scheduled to conclude today. Little progress has been made through the first five rounds.

President Trump has threatened to withdraw from NAFTA if negotiations do not yield a good deal for the U.S.

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4. Coming this week:

Monday -- Lockheed Martin earnings
Tuesday -- State of the Union; Harley-Davidson, McDonald's, Aetna, Pfizer and Electronic Arts earnings
Wednesday -- Anthem, AT&T, Microsoft, eBay, PayPal, Mondelez and Facebook earnings
Thursday -- Apple, Alphabet, Amazon, Time Warner, Hershey, UPS, MasterCard, Visa, Mattel, DowDuPont and ConocoPhillips earnings
Friday -- U.S. monthly jobs report

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Today we are expected showers in the Valley and snow levels dropping to 4,000 feet by Saturday morning. We dry out Saturday-Tuesday with a chance for another storm on Wednesday. Sunday and Monday night lows could near freezing.
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