Quad witching, Nike slides, weed rules and more in Morning Squawk
Here are five key things investors need to know to start the trading day.
TL;DR
- Quadruple witching day involves the expiration of index options, single stock options, index futures, and index futures options.
- Record options exposure exceeding $7.1 trillion is expected on this quadruple witching day.
- Nike anticipates a low single-digit percentage drop in revenue for the current quarter and a shrinkage in gross margins.
- President Trump's executive order moves marijuana from Schedule I to Schedule III classification.
- The diversity visa program is suspended following a suspect's alleged use of the visa.
- Dealmaking in the U.S. has been slower than anticipated, with fewer transactions compared to the previous administration.
- The University of Texas at Austin now leads CNBC's college sports valuation rankings at $1.48 billion.
- Ohio State University dropped to second place in college sports valuations.