Morning Brief: Berkshire Hathaway adds two to its board

Wednesday, January 10, 2018

What to watch today

On the calendar on Wednesday, investors will have a fairly light schedule with the economic highlight coming from the December reading on import prices. Earnings, meanwhile, will be focused on homebuilders with Lennar (LEN) and KB Home (KBH) both reporting earnings while grocery chain Supervalu (SVU) will also release quarterly results.

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Top news

Berkshire Hathaway increases board size: Warren Buffett’s Berkshire Hathaway Inc. (BRK) on Wednesday voted to increase its board of directors to 14 from 12. It appointed Gregory Abel as Berkshire Hathaway’s vice chairman for non-insurance business operations, and Ajit Jain as vice chairman for insurance operations. [Reuters]

Trump yanks Florida from offshore drilling plan:  The Trump administration is ruling out plans to sell new drilling rights off the coast of Florida, including eastern Gulf of Mexico waters coveted by oil companies, amid pressure from Republican Governor Rick Scott. The about-face came just five days after the Interior Department said it was considering selling oil and gas leases in more than 90% of U.S. coastal waters. [Bloomberg]

Gundlach says S&P 500 will have negative return for 2018:  Jeffrey Gundlach, the billionaire bond manager, says the S&P 500 Index will end the year with a negative return and is dubious of the long-term value of bitcoin. The money manager also said he doesn’t own bitcoin. [Bloomberg]

Judge blocks Trump’s plan to scrap ‘Dreamers’ immigrant program: Children of undocumented immigrants facing deportation won a court order temporarily blocking the Trump administration’s decision to end the so-called Dreamer program in March. [Bloomberg]

Bannon out as chairman of Breitbart News: Former White House chief strategist Steve Bannon is stepping down as chairman of Breitbart News Network after a public break with President Donald Trump. Breitbart announced Tuesday that Bannon would step down as executive chairman of the conservative news site, less than a week after Bannon’s explosive criticisms of Trump and his family were published in a new book. [AP]

Yahoo Finance from CES 2018: 

For more coverage of CES 2018, go to Yahoo Finance’s tech page all week

For more of the latest news, go to Yahoo Finance

Human sleeves are on display to promote Netflix’s sci-fi series “Altered Carbon” at CES International Tuesday, Jan. 9, 2018, in Las Vegas. (AP Photo/Jae C. Hong)

Yahoo Finance Originals

Strange Bedfellows: Trump does Davos

Trump’s grade on the economy bounces back to B+

Social media made GoPro — and then broke it

Oprah, boosted by Weight Watchers stake, is now richer than President Trump 

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.