S&p 500 looks to snap worst losing streak in 5 years

Wells Fargo (WFC) has increased its litigation loss reserves to $1.7 billion from $1 billion, according to a filing. Wells Fargo has confirmed reports the SEC has joined those looking into

the recent disclosure and revamping of the bank's sales practices. (CNBC) Despite beating estimates with quarterly results, Facebook (FB) was getting slammed in the premarket, after

warning ad revenue growth rates would slow "meaningfully" next year as the social network maxes out the number of ads without damaging the user experience. (CNBC) Fitbit (FIT) was

losing about a third of its value in premarket trading, after revenue as well as fourth-quarter and full-year outlook fell short of estimates. The stock has fallen more than 55 percent since

its June 2015 IPO, which was priced at $20 per share. (CNBC) Whole Foods Market (WFM) beat estimates on earnings and matched on revenue. Meanwhile, the organic grocer named co-founder John

Mackey as its sole CEO. Mackey and Walter Robb were co-CEOs. Robb will remain on the board and serve as a senior advisor. Ford (F) has launched Black Friday clearance sales early, following

a nearly 12 percent drop in October sales. Ford is offering $1,000 rebates on 2016 and 2017 models. Last year, Black Friday deals from several automakers made for a strong November. (WSJ)

The Justice Department filed an antitrust lawsuit against AT&T's (T) DirecTV, alleging the satellite television service engaged in unlawful information sharing with rival pay-TV

operators during negotiations over whether to carry a Dodgers-owned channel, SportsNet LA. (WSJ) The Chicago Cubs ended a 108-year wait for a World Series title, beating the Indians in

Cleveland last night in a thrilling 10 inning 8-7 Game 7 classic. The Cubs capped a three games to one comeback. (Reuters) BY THE NUMBERS It's a busy day for economic numbers, as

traders digest Wednesday's Fed statement that signaled a stronger case for an interest rate hike, while looking ahead to the high probability of a December move and tomorrow's

government jobs report for October. At 8:30 a.m. ET, the Labor Department issues jobless claims and third quarter productivity. The Institute for Supply Management releases its

non-manufacturing index for October at 10 a.m. ET, while the Commerce Department is out with September factory orders at the same time. The schedule of companies reporting earnings this

morning include Becton Dickinson (BDX), Charter Communications (CHTR), Chesapeake Energy (CHK), Church & Dwight (CHD), Cigna (CI), Hyatt Hotels (H), Sprouts Farmers Market (SJI), and

Time Inc. (TIME). Starbucks (SBUX) leads this afternoon's list earnings reports, with Activision Blizzard (ATVI), CBS (CBS), El Pollo Loco (LOCO), FireEye (FEYE), GoPro (GPRO), Lions

Gate (LGF), Monster Beverage (MNST), Symantec (SYMC), and Kraft Heinz (KHC) among the others. The Android mobile operating system from Alphabet's Google grabbed a record market share in

the third-quarter at the expense of Apple's (AAPL) iOS which posted a decline, according to new research. STOCKS TO WATCH Qualcomm (QCOM) beat forecasts by 15 cents with adjusted

quarterly profit of $1.28 per share, while the chipmaker's revenue also came in above forecasts. Strong demand for the company's smartphone chips helped drive the quarter, with

particular strength in the China market. 21st Century Fox (FOXA) reported adjusted quarterly profit of 51 cents per share, exceeding estimates by 7 cents, while revenue was essentially in

line. The media giant was helped by strong results at the movie box office as well as its cable division. Wynn Resorts (WYNN) missed estimates by 3 cents, with adjusted quarterly profit of

75 cents per share, with revenue essentially in line. The casino operator's results were pressured by an 11.5 percent drop in revenue from Macau, though that market has shown signs of

recovering. Credit Suisse (CS) delivered better-than-expected earnings for its third quarter, with the Swiss bank noting positive trends in its operations amid restructuring and

cost-cutting. AIG (AIG) reported adjusted quarterly profit of $1.23 per share, 2 cents above estimates. The insurer's profit compared to a year-ago loss, when AIG was hit by poor

investment results. Additionally, AIG's board authorized an additional $3 billion for its share buyback program. Avis Budget (CAR) beat estimates by 14 cents with adjusted quarterly

profit of $2.47 per share, and the car rental giant's revenue was essentially in line. However, its full-year earnings guidance is below forecasts on softer demand both in the Americas

and Europe. First Solar (FSLR) reported adjusted quarterly profit of $1.22 per share, well above estimates of 74 cents per share, though revenue was well below estimates. However, First

Solar also cut its sales forecast. WATERCOOLER The songwriting rights of the late rocker Prince are going to the Universal Music Publishing Group for an undisclosed sum, rising the possibly

that songs withheld from online streaming services may become more widely available. (NY Times) The private art collection of the late singer David Bowie went on display this week, ahead of

a three-day sale that kicks off a week from today. The auction is expected to fetch more than $12 million. (CNBC)