- Reuters / Hannibal Hanschke
Here is what you need to know.
After Mueller’s team spent hours grilling Sessions, Trump may be up next. Attorney General Jeff Sessions was the highest-ranking Trump administration official known to be interviewed by the special counsel Robert Mueller’s team so far, and President Donald Trump’s lawyers are now reportedly preparing for questioning.
Tesla CEO Elon Musk will now be paid nothing unless he increases his company’s market capitalization and the shareholders do very well. Musk’s new compensation plan scraps any promise to hit vehicle production goals, which Tesla has regularly missed.
Anthony Noto resigned as COO of Twitter to become CEO of SoFi. Twitter stock fell as much as 3% after the news broke, and it is trading slightly higher in premarket hours.
Starbucks is spending $120 million to address baristas’ complaints and raise wages in a move ‘accelerated’ by the new tax law. In April, hourly and salaried partnered employees will receive their second raise of the year, following their January annual wage increase.
One of Wall Street’s best stock pickers shares his secrets for crushing the market. Alex Umansky, who manages five mutual-fund portfolios for Baron Funds, saw his $199 million Fifth Avenue Growth Fund smash benchmarks in 2017 with a 40.6% return.
Millennials are flocking to cryptocurrency and cannabis stocks, TD Ameritrade’s CEO says. Investment accounts opened by the youth demographic rose 72% annually, Tim Hockey told Business Insider.
Apple’s delayed HomePod speaker is finally going on sale. It is set to become available for preorders on Friday. It will cost $349 and is scheduled to hit store shelves on February 9.
Stock markets around the world are mixed. China’s Shanghai Composite (+0.37%) increased, while Germany’s DAX (-0.04%) slid slightly. The S&P 500 is set to open up 0.3% near 2,847.
Earnings reports continue to be released. Comcast, General Electric, and Progressive are set to report before the market open, while Discover Financial and Ford will release results after the market close.
US economic data reports are light. US manufacturing and services PMI data is due at 9:45 a.m. ET, while existing-home sales will be released at 10 a.m. The US 10-year yield is down 4 basis points at 2.62%.