BY THE NUMBERS
U.S. inventory futures had been poised for a second day of beneficial properties, following the announcement of a debt and spending deal by the White Home and congressional leaders. The main averages had rebounded from a Friday loss earlier within the day on experiences that the deal was about to be introduced. The S&P 500 sits about 1% under its July 15 all-time excessive, with the Dow about 0.7% under its personal file excessive. (CNBC)
On right now’s U.S. financial calendar, the Nationwide Affiliation of Realtors is out at 10 a.m. ET with its June report on present house gross sales. (CNBC)
It is a busy day for earnings. Dow parts Coca-Cola (KO), United Applied sciences (UTX), and Vacationers (TRV) lead this morning’s earnings experiences, with Kimberly-Clark (KMB), Harley-Davidson (HOG), Hasbro (HAS), Biogen (BIIB), Centene (CNC), Fifth Third (FITB), KeyCorp (KEY), Lockheed Martin (LMT), PulteGroup (PHM), Quest Diagnostics (DGX), Sherwin-Williams (SHW), and Stanley Black & Decker (SWK) additionally issuing quarterly numbers.
Dow part Visa (V) is out with its quarterly numbers after right now’s closing bell, together with Chipotle Mexican Grill (CMG), Uncover Monetary (DFS), Edwards Lifesciences (EW), iRobot (IRBT), Snap (SNAP), and Texas Devices (TXN).
IN THE NEWS TODAY
President Donald Trump and congressional leaders struck a two-year U.S. debt ceiling and funds deal. The deal strikes the U.S. nearer to dodging the specter of debt default and computerized spending cuts. It additionally may forestall a authorities shutdown when funding expires after Sept. 30, although lawmakers should cross separate appropriations payments. (CNBC)
The U.K. will discover out who its subsequent prime minister will likely be right now when the winner of the ruling Conservative Celebration’s management race is introduced. The vote comes after Prime Minister Theresa May introduced she would resign following repeated parliamentary rejections of the Brexit deal she struck with the European Union. (CNBC)
The Division of Homeland Safety’s expanded authority that enables for the expedited elimination of undocumented immigrants goes into impact right now. The White Home introduced yesterday it is calling for the elimination of those that can not show they’ve been within the U.S. constantly for no less than two years, a transfer that may bypass the courts. (USA As we speak)
The Justice Division advised former particular counsel Robert Mueller to not reply a swath of questions on his investigation involving Trump and the 2016 election. The letter is a sign to how tough it might be to extract any new info when he testifies to Congress tomorrow. (Washington Submit)
* Wray’s testimony might be preview for Mueller listening to (AP)
The U.S. Division of Agriculture proposed new guidelines right now that limits entry to meals stamps for households with financial savings and different belongings. It is a measure that might lower advantages to about three million individuals. (Washingon Submit)
* Coal miners to demand Congress restore full black lung advantages tax (NPR)
Trump stated he believed Chinese language President Xi Jinping has acted “very responsibly” with the protests in Hong Kong. Political tensions in Hong Kong have escalated lately over a proposed extradition invoice that might enable these arrested within the territory to be despatched to mainland China for trial. (CNBC)
* China’s state media present Hong Kong protest photographs, fanning public anger (WSJ)
Secretary of Training Betsy DeVos and her household are among the many teams which have seen an revenue boon of tens of millions via their very own investments since Trump’s tax reform plan was signed. Ethics attorneys argue that the complexity of her funds makes it practically not possible for presidency watchdogs to trace who could also be making an attempt to have an affect over her. (CNBC)
Apple (AAPL) is in superior talks to purchase belongings from Intel’s (INTC) modem chip enterprise, doubtlessly buying patents and employees valued at $1 billion or extra, The Wall Road Journal reported. If the acquisition occurs, it might once more underscore Apple’s elevated willingness to think about massive multibillion-dollar acquisitions with its struggle chest of $225 billion in money and marketable securities. (CNBC)
Trump met with CEOs from Google (GOOGL), Broadcom (AVGO), and different expertise firms to debate commerce practices and nationwide safety points. The dialogue got here as tech firms face the potential of elevated regulation following per week of hearings on Capitol Hill. (CNBC)
Fb (FB) is predicted to announce a settlement with the Federal Commerce Fee over its privateness practices as quickly as this week. It has already been extensively reported that the settlement would come with a advantageous of about $5 billion, in addition to a lot of privacy-related necessities. (WSJ)
Equifax (EFX) pays $671 million to settle quite a few state class-action lawsuits and investigations by the Federal Commerce Fee, New York Division of Monetary Providers, and the Client Monetary Safety Bureau. The deal, which remains to be topic to a six-month courtroom approval course of, will set up a client restitution fund of as much as $425 million. (CNBC)
STOCKS TO WATCH
Whirlpool (WHR) beat Wall Road’s adjusted quarterly revenue and income estimates. Whirlpool additionally raised its full-year forecast, after efficiently growing costs to offset increased manufacturing prices.
TD Ameritrade (AMTD) beat forecast and adjusted quarterly revenue estimates. Individually, the corporate introduced that CEO Tim Hockey will step down as soon as a successor is discovered.
Starbucks (SBUX) is shopping for a stake in restaurant expertise firm Eatsa, and also will sit on the board. Eatsa had operated a lot of automated cafes, however has closed these areas down and is now promoting its programs to different restaurant chains.
AutoNation (AN) named Chief Monetary Officer Cheryl Miller as its new CEO, changing Carl Liebert. The nation’s largest auto dealership chain had named Liebert to the submit in March, changing very long time CEO Mike Jackson, however now stated that either side agreed that Liebert was not the fitting match.
UBS (UBS) posted better-than-expected quarterly revenue, with the Switzerland-based financial institution logging its finest second quarterly in practically a decade. The financial institution noticed weak point in wealth administration, however power in retail and company banking.
Boeing’s (BA) outlook was downgraded to “negative” from “stable” by Moody’s, echoing an analogous transfer earlier within the day by Moody’s rival Fitch. Each credit standing companies cited the continued uncertainty surrounding Boeing’s grounded 737 Max jet.
Lil Nas X’s “Old Town Road, ” that includes Billy Ray Cyrus, now ties the file for probably the most time tallied at No. 1 within the chart’s six-decade historical past, ruling the Billboard Scorching 100 for a 16th week. It now matches “Despacito” and “One Sweet Day.” (Billboard)
Sony (SNE) debuted the primary trailer of its Mister Rogers film, “A Beautiful Day in the Neighborhood, ” starring Tom Hanks. It is impressed by the friendship between Rogers and Tom Junod, a journalist assigned to write down a profile of the tv host. (Selection)