Global markets rally for 2nd day as Brexit fears ease
To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cd9c2aae0aa10d27b8e47441ddaaa9ec46396451afb09eb5020d983ab14a42ba5CNBC | Morning Squawk To view this email as a web page, click https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cd9c2aae0aa10d27b8e47441ddaaa9ec46396451afb09eb5020d983ab14a42ba5 here. https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cf22bf92f2e2e238068f3efb5483236490a4541e2e993b387852d14c487515a5f https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c5e01d9cf60b1ee87fe0ab8b8227f3c71a8e3d61cdbd3473623aaec2b628c03f0 IN THE NEWS TODAY https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c2fef81828c425f723875160a7fd0b76d2277e8cac5118b89883b490f1759ad15 U.S. stock futures were higher again this morning. A strong bounce-back on Wall Street Tuesday, which followed two sessions of steep post-Brexit declines, basically erased Monday's downturn. https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cfd1271e5d69f2bbbf51917d8f0ca939aa1f032c502f76d178ccd3bdd225fcc88 European stocks were higher for a second day, as was the battered https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c4584315184aa76bbbc5f0baab08b34208eeb95eaa401297d43870a953dcbffa6 British pound . (CNBC) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cbfe7cf0c172dce26f83279fc412a30925f1b2620b204c128cb661c8cd067e872 Global bond prices and https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c411f3bf049877af9fad85c0afc6be88160555ff1c05e83f46df659692bed5190 gold were rather steady as investors ventured into riskier assets as concerns about near-term Brexit risks eased. https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c68636a97bf937cfdf72fb77a6a1c81398e606837c250369870bc69e14f1ef73a Oil was rallying again as traders turned their attention to supply risks from a potential strike in Norway and crisis in Venezuela. (Reuters) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c90d83939dd789d2c1417ea431b92c725b8b7d313fff64c68cf73622572dd869c Embodying nationalistic themes that stoked leave voters' ire in Britain's EU referendum, presumptive GOP presidential nominee Trump painted Democratic rival Hillary Clinton as a champion of globalization that's pushed manufacturing jobs overseas. (AP)Istanbul's busy Ataturk Airport reopened this morning, after an https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c6068fad1e0a9958e44c3cdb42d7aec716626e196e244dd72a1ccb70ec2a18349 attack blamed on ISIS killed at least 41 people and wounded more than 100 others. Authorities said three terrorists arrived in a cab and opened fire and set off at least two explosions. (NBC News)Hillary Clinton and Donald Trump offered quite different reactions to the Istanbul terror attacks. Clinton offered support, while Trump advocated fighting "fire with fire," highlighting the contrasting views of the candidates on foreign policy. (NBC News) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c984b35aa1b1c8c06dab07052029bed5b0947d1086321d5352baeca33563ce2e9 https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c619c9f4007364442e2764c03495d22a003cbda6e0d64a0339f42fbea26a1e124 https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c8d0c68ca568bdfe3593b707aea05ea72d785d1f1fd5d4ffa365672a0f37d0f12 Shares of Dow component Nike (NKE) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cdd234dba4184bd47c9e31aff1f5b8a25d30a8a6f80a2263cfcf69bb78cd78669 were sharply lower in premarket trading, after warning about slower future orders. The athletic apparel and footwear maker did report slightly better-than-expected quarterly earnings and in-line revenues. (CNBC) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94ccf851070bbbdd3caa5dd35a57c8c66412ee5cccea3a78ffd50a2db5a68289d05 After 14 years at the helm , Honeywell's (HON) David Cote plans to step down as CEO at the end of March 2017. He'll be replaced by President and COO Darius Adamczyk. Cote will continue as executive chairman until April 2018. (Reuters) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c60225871758382f102b555a2c1ce0fa4365537c7f81bcc245ccd636f9ae0eae7 https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c32b0062b27166ec34e8635d9b12253639af3fea4e3f0f2713fee21f28ed4f11f Shares of Dow stock United Technologies (UTX) were little changed in the premarket on the Honeywell leadership changes. Cote had spearheaded a Honeywell effort to acquire UTX for more than $90 billion. https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c5b16cbde48c0425490d7912eefc2d5ee66c142aa61f156403eecef7843502dbb The deal fell apart in March because UTX rebuffed the offer. (CNBC)In the wake of Tesla's (TSLA) proposed bid for SolarCity (SCTY), https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c909b3ed569e88047ae45d876ea9fab5947e0b7623f89fd09a613d3f74690ba2a an investor group called on the electric automaker to add two independent directors and separate the chairman and CEO roles held by founder Elon Musk. Musk is also chairman and largest shareholder of SolarCity. (Reuters)Online home rental marketplace Airbnb is currently raising an undisclosed amount of cash https://click.response.cnbc.com/?qs=f1dccc1d32b3e94ce5a4de7bee73c3d98dc520f26329854355bf4636e1968e6f15e0e048afefd0ec at a $30 billion valuation . Such a deal would make Airbnb the second-most valuable startup in the U.S., trailing only Uber that's valued at $62.5 billion. (Recode) https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c15f908165796bdd1ca3e22a7b86aa0a5095730579350b2978ca70fe5a02cf232 Senate Democrats blocked a deal for funding to fight the mosquito-borne Zika virus, which has been linked to birth defects in the babies of infected pregnant women. The stalemate virtually guarantees legislation won't get to the president's desk this month. (The Hill) BY THE NUMBERS The futures-market https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c2fea72d6672c4c2488265123b234df1b819f98e1bb3703f7c76072534f506049 odds shifted from a chance of a Fed interest rate hike to a better chance of a rate cut by December, as traders reacted to the recent volatility around the Britain's surprise leave vote.Fed Chair Janet Yellen's favorite PCE inflation indicator, as well as fresh income and spending numbers, could temporarily distract markets from the Brexit aftermath. Those data points for May are out at 8:30 a.m. ET.Pending home sales for last month are released at 10 a.m. ET. The Energy Department releasing its weekly look at oil and gasoline inventories at 10:30 a.m. ET.Mortgage application volume https://click.response.cnbc.com/?qs=f1dccc1d32b3e94cb0ef90f1f89b0fce20d3504c293f41a609e904afba84359f3c5776160414e66c decreased 2.6 percent on a seasonally adjusted basis last week, but they were nearly 38 percent higher from a year ago when home loan rates were higher. Refis fell 2 percent last week. STOCKS TO WATCH Energy Transfer Equity (ETE) ended its $33 billion merger agreement with Williams Companies (WMB). Last week, a judge ruled that ending the deal was legal because of the lack of a necessary tax opinion. Williams believes ETE breached the merger agreement and has filed an appeal.Toyota (TM) recalled nearly 3.4 million vehicles worldwide for possible defects involving airbag inflator cracks and emission control units. The parts in question were not made by Takata, the Japanese supplier at the center of a massive airbag recall.Noodles & Co. (NDLS) said some customer debit and credit card information may have been compromised by malicious software at its payment terminals over a four month period. The restaurant chain said malware was found at locations in 27 states and Washington, D.C.Sony (SNE) boosted sales projections for its games division for its next fiscal year, helped by hopes for its virtual reality headset. However, it cut its outlook for sales of image sensors due to slowing demand for smartphones. The electronics giant also plans to re-enter the robots business. CONTRIBUTORS https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c451cfca76984d1c31ddf95047f43b14ccda9847df505c607b7bde95746878eed https://click.response.cnbc.com/?qs=f1dccc1d32b3e94c451cfca76984d1c31ddf95047f43b14ccda9847df505c607b7bde95746878eed Matthew J. 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