TheStreet Live

The court says the merger between Anthem and Cigna would have harmed consumers by resulting in fewer choices and higher costs. It would have been one of the largest deals in any industry, worth $48 billion. Recenlty, regulators also stopped another health insurance merger between Humana and Aetna . Executives in the aviation industry will meet with President Donald Trump today. The CEO's of Delta , United , Southwest , JetBlue , and Alaska Airlines will attend. They are expected to discuss the aging infrastructure of airports, taxes and regulations. A winter storm is threatening to drop a foot of snow across the northeast United States. Many flights have been cancelled and public schools are closed. The storm could limit trading volume on Wall Street.

A broad coalition of states, business leaders and former cabinet members joined together in urging the judges to keep President Donald Trump's immigration order ban on hold. A Federal Appeals Court will hear arguments both for and against lifting the stay on the order put in place by a Washington judge. A decision is expected later today. Meanwhile, Democrats have staged a 24 hour blitz against Trump's Education Secretary nominee Betsy DeVos. They are trying to convert one more republican over to their side to derail her confirmation. The current vote count indicates she will be approved by the slimmest of margins with Vice President Mike Pence casting the tie-breaking vote. BP reported annual earnings that were the lowest in 10 years. The Wall Street Journal reports the British oil giant also said the company now needs oil prices of about $60 a barrel to balance its spending with cash flow, up from the $50-$55 a barrel they had indicated last year.

U.S. stocks were wavering, searching for direction, but mostly lower Monday as uncertainty over potential policy moves from President Donald Trump weighed on Wall Street. Banking stocks led Wall Street sharply higher last week after Trump signed an executive order to loosen financial regulations. Tiffany shares fell as the company announced that its current CEO would resign immediately, after less than two years on the job. Board chairman and previous Tiffany CEO Michael J. Kowalski will serve as interim CEO. And, Toymaker Hasbro jumped over 14% after reporting fourth-quarter adjusted earnings of $1.64 a share, beating forecasts of $1.27. Revenue of $1.63 billion also topped Wall Street forecasts. Tech shares, including Apple , Alphabet's Google, Facebook , Microsoft , Netflix , Twitter were on watch Monday after a number of tech companies filed legal briefs on Sunday with a federal appellate court saying Trump's immigration ban damages their businesses.

President Donald Trump says those against his travel ban are putting the country in danger. About 100 technology giants, including Microsoft , Google , Facebook and Apple , have signed onto a legal action against the ban. Further filings are expected to today from both the government and the Department of Justice. Tiffany's Chief Executive stepped down Sunday. The move comes after slow holiday sales. Tiffany's just aired its first Super Bowl commercial in its history. And history was made in Houston last night. The New England Patriots came from way behind to win the Super Bowl in the first overtime in Super Bowl history. Patriots quarterback Tom Brady was named Super Bowl MVP. Philadelphia Federal Reserve President Patrick Harker speaks about Fintech regulation in San Diego. President Donald Trump visits Macdill Air Force Base in Florida

Banking stocks led Wall Street sharply higher to end the week on the promise of relaxed regulations. This afternoon Donald Trump signed an executive order to put a pause on financial regulations, the first step in undoing Dodd-Frank. Oil settled higher despite another increase in weekly drilling activity. The number of active rigs drilling for crude oil in the U.S. rose by 3% in the past week to a total 583. GoPro tumbled after reporting weak quarterly sales and guiding for a disappointing current quarter. The action camera maker reported a 24% slump in sales over its most recent three-month period. Clorox saw an increase in sales and volume over its recent quarter. The consumer goods company reported a nearly 5% increase in revenue, driven by growth in its cleaning and household products units.

The Dow Jones Industrial Average recovered a level above 20,000 as a potential repeal of banking regulations gave the financial sector a big boost. The White House is reportedly mulling rolling back Dodd-Frank regulations. Macy's surged on reports Hudson's Bay had approached the retailer for a potential takeover. Reports a day earlier suggested Macy's was open to a number of strategic options after pressure from shareholder Starboard Value. Chipotle fell after reporting on the final quarter in a tough year. The burrito chain has had a tough time recovering from the E.coli outbreak across 14 states in late 2015. Same-store sales fell nearly 5% over the fourth quarter. Factory orders rebounded in December after a sharp decline in November. Orders rose by 1.3%, above estimated growth of 0.9%.

President Donald Trump will reportedly take aim at financial regulations today, ordering a review of the Dodd-Frank Wall Street reform law that could lead to major changes and suspending a conflict of interest rule for retirement advisors before it goes into effect this spring. This is according to several media reports out this morning, which cite White House sources. President Trump is also set to meet with several Chief Executives today including the heads of General Motors , IBM, , and JP Morgan Chase . The Wall Street Journal says they will discuss issues including regulation, women in the workforce, tax and trade, and infrastructure. Despite a record holiday season, Amazon didn't meet investors expectations. It missed analysts projections on revenue. Amazon's cloud computing business is the most profitable division and is growing quickly. The first jobs report of 2017 will happen today. Economists surveyed by Bloomberg believe 175,000 jobs are expected to have been added and the jobless rate will hold steady at 4.7%.

A flood of news out of Washington kept Wall Street on edge and struggling for direction for much of the day. House Speaker Paul Ryan added to nerves after putting health care as a top priority above tax reform. Russian stocks rose after the Treasury Department relaxed sanctions on Russia's intelligence agency. White House Press Secretary Sean Spicer said the move was a "regular course of action." Sanctions have been in place since April 2015. Estee Lauder anticipated below-consensus earnings for the full year. The cosmetics company said social and political issues, terrorism and currency exchange have negatively impacted consumer behavior in some regions. Nokia climbed after beating profit expectations in its recent quarter. A better bottom-line was tied to its newly acquired Alcatel-Lucent and a series of cost cuts.

Stocks saw jittery trading for much of the morning before turning higher. Investors appeared hesitant over the unending barrage of news from Washington. Yesterday, the White House threatened new sanctions against Iran and tensions rose with Australia over the refugee crisis. Deutsche Bank fell after posting a wider-than-expected loss over its fourth quarter. The bank also upped its litigation reserves to more than 7 billion euros following investigations into its U.S. mortgage bonds and Russian money laundering. Macy's jumped on reports the retailer has been approached about a potential sale. Activist Starboard Value is reportedly behind the push to consider its options and is angling for seats on the company's board. Costco climbed after reporting strong sales over January. Overall net sales increased 9%, while comparable-store sales increased 6% in the U.S. and 11% in Canada.

In a statement, National Security Advisor Mike Flynn warned Iran after they tested a ballistic missile in violation of a United Nations accord. If the conflict escalates it could send the price of oil higher as supplies may be cut through sanctions. Oil prices jumped as soon as the statement was made. Mobile advertising continues to drive growth at Facebook . All the financial numbers were up at the social media company, sending its stock to a record high. Facebook has said it plans to ramp up spending on new engineers and data centers. It also said it would reduce its 'ad load', the number of ads its shows users in their news feeds. A huge food deal could be in the works. Reckett Bensicker Group confirmed it is in talks to buy baby food maker Mead Johnson in what could be a $17 billion deal. Mead Johnson makes Enfamil baby formula as well as other products. It had net sales of $3.7 billion in 2016.