Stock market live updates: Dow futures off 43 points, Morgan Stanley to buy E-Trade

Finance

Traders and financial professionals on the floor of the New York Stock Exchange on December 27, 2018.

Drew Angerer | Getty Images

This is a live blog. Check back for updates.

8:19 am: L Brands slides 14% as Sycamore Partners says it will acquire majority stake in Victoria’s Secret

8:15 am: Morgan Stanley to acquire E-Trade for $13 billion

Morgan Stanley has agreed to buy E-Trade in a $13 billion all-stock deal, the companies said on Thursday. The investment bank will pay $58.74 a share in stock for E-Trade, and the deal is expected to close in the fourth quarter of 2020. The takeover is set to bring together $3.1 trillion in client assets. Morgan Stanley shares fell more than 4% in premarket trading. E-Trade shares jumped about 23% to $55.16. —Li

8:11 am: Stock futures fall, S&P 500 and Nasdaq to slip from record highs

Stock futures are falling on Thursday as Wall Street is set to take a breather following a record-setting session. S&P 500 and Nasdaq 100 futures both indicate declines of 0.2% at the open. Dow Jones Industrial Average futures were down 43 points. The S&P 500 and Nasdaq hit record highs in the previous session, led by a rally in tech shares. However, lingering worries over the coronavirus tempered sentiment on Thursday. —Imbert

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