Dow could lose June gains at the open, as Trump ratchets up trade tensions
CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=16130831996cbebc9444dc0ef0be087b5c93bb42182bea164af278f994644cfbad362820d08c579912c6601bc5c6d0c15e1bed7798949750232316b720a5b89842acad515690abb6 here. https://click.response.cnbc.com/?qs=4d5ed131ee0951f65e5be0dd95b9ab0eebf53f4675ddb186e44dcc409f1a93367ce8c6981c0d43a8827b3ad86db822b378d31dcbe463d259 Dow Jones Fut 24,580.89 Current:24,432.00 Change:-167.00 Impl. Open:-144.89 S&P 500 Fut 2,754.88 Current:2,745.00 Change:-14.50 Impl. Open:-12.43 NASDAQ 100 Fut 7,197.51 Current:7,159.75 Change:-63.00 Impl. Open:-60.76 Russell 2000 Mini 1,685.58 Current:1,684.80 Change:-6.40 Impl. Open:-4.53 Quotes as of 6/25/2018 7:49:24 AM ET BY THE NUMBERS Futures were lower this morning, as trade tensions continued to ratchet higher. The Dow has the smallest June gains of any of the major averages, and based on futures activity, those gains could be erased this morning. (CNBC) div > div.group > p:first-child"> Netflix (NFLX) shares were more than 1 percent lower in premarket this morning. Chief Communications Officer Jonathan Friedland is resigning. Netflix did not give details on why Friedland was leaving, but he tweeted that he had spoken in an "insensitive†manner. (CNBC) General Electric (GE) is reportedly near a sale of its industrial engine unit to private equity firm Advent International. A sale worth $3 billion or more could be announced as soon as today, with Advent beating out Cummins (CMI) for that business. (WSJ) The government will release its May report on new home sales at 10 a.m. ET. Cruise line operator Carnival Corp. (CCL) issues this morning's lone earnings report, while no companies of note are scheduled to report after today's closing bell. (CNBC) $(document).ready(function($){ $('body.mobile-native .group p').each(function() { $(this).html($(this).html().replace(/\ - /g,"• ")); }); }); setTimeout(function(){ var aBody = document.getElementById("article_body"); var aDeck = document.getElementById("article_deck"); aBody.insertBefore(aDeck, aBody.firstChild); $('body .group-container .subtitle').css({'border-bottom':'4px solid #CCD6DB', 'padding-bottom':'10px'}); $('.embed-container').css('cssText', 'margin:0 0 0px;width:100%;'); $("body.mobile-native .group p").css("border-bottom","1px solid #CCD6DB"); $("body.mobile-native .group p:last-child").css("border-bottom","none"); $("body.mobile-native .group-container .subtitle").css("margin-bottom","0px"); $(".mobile-native article p, .mobile-native article ul, .mobile-native article ol").css("padding","30px 0px 30px 0px"); $("#article_deck").css({'border-top':'none'}); $('.story-top').css({'border-bottom':'none'}); }, 200); IN THE NEWS TODAY The Wall Street Journal reported that President Donald Trump plans to bar many Chinese companies from investing in U.S. tech and to block additional technology exports to China. The two measures are set to be announced by the end of the week. Trump issued a stark warning to the U.S. trading partners over the weekend. He called on global economies to end to all protectionist barriers, or face a new round of retaliatory measures. "Trade must be fair and no longer a one way street!" the president said. (CNBC) Trump said that people who enter the U.S. illegally should be sent back to where they came from immediately without any judicial process. He didn't differentiate between people who entered the United States to seek asylum and illegal immigrants. (Reuters) Porn actress Stormy Daniels was scheduled to meet with federal prosecutors today as part of their investigation into Trump's longtime personal attorney. However, the meeting was abruptly cancelled after it was reported by news outlets, her attorney said. (AP) Battles will be settled on Tuesday between the establishment and activist wings of Democratic and Republican parties as voters head to the polls. Primaries will be held in Colorado, Maryland, Mississippi, New York, Oklahoma, South Carolina and Utah. (USA Today) Republican Sen. Jeff Flake suggested he may use his role on the Senate Judiciary Committee to extract concessions from Trump. Flake, who has criticized Trump previously, added that he could team up with other pro-trade Republicans to delay judicial nominees. (Washington Post) A 15-year-old boy who was housed in a large migrant shelter in Texas walked off the premises and disappeared into the border land. The operator said it was not allowed to restrain children, raising questions about who is responsible for their safety. (NY Times) President Recep Tayyip Erdogan won Turkey's landmark election Sunday, ushering in a new system. On already shaky footing, Turkey's economy and assets are likely to be affected as all eyes turn to what the powerful and growth-hungry Erdogan will do next. (AP & CNBC) Uber will argue that in court today that it is "fit and proper" to hold a license to operate in London after regulators stripped it of one last year. Uber made changes to its service, including reporting serious incidents to the police directly and controlling drivers' working hours. (CNBC) The combined firepower of "Fallen Kingdom†and "Incredibles 2" fueled $280 million in total ticket sales, making it Hollywood's fourth-biggest overall weekend ever, not accounting for inflation. Business was roughly double what it was the same June weekend last year, according to comScore. STOCKS TO WATCH Education Realty Trust (EDR) has agreed to be bought by Greystar Student Housing Growth and Income Fund for about $4.6 billion including assumed debt. Shareholders in the owner of college student housing communities will receive $41.50 per share in cash, compared to Friday's closing price of $40.83. Campbell Soup (CPB) is drawing possible takeover interest from Kraft Heinz (KHC), according to the New York Post. The paper said Kraft believes the soup-maker's management will soon initiate a sales process, and also reported that General Mills (GIS) could be a potential buyer as well. AT&T (T) expressed interest in buying CBS (CBS) before striking its deal to buy Time Warner, according to the Wall Street Journal. KKR (KKR) is facing a backlash from pension funds that have invested billions in the private equity firm, according to the Financial Times. The funds are said to be upset with KKR's treatment of workers at bankrupt retailer Toys R Us. Medtronic (MDT) reported upbeat study results for its MiniMed 670G insulin pump system. WATERCOOLER Thousands of people decorated in rainbow colors marched Sunday through Greenwich Village of New York City and up Fifth Avenue for the annual Gay Pride parade. Tennis legend Billie Jean King was one of this year's grand marshals. (USA Today) Match Day 12 at the World Cup in Russia features the final games in Group A and Group B. In the battle of the undefeated, hosts Russia fight for the top spot of Group A against Luis Suarez and Uruguay. Meanwhile, Cristiano Ronaldo's Portugal and Sergio Ramos' Spain top Group B with 4 points with Iran close behind with 3 points. All three of those Group B teams have a chance to go through to the knockout round. (Fox Sports) CONTRIBUTORS https://click.response.cnbc.com/?qs=4d5ed131ee0951f6e2397a5206a718ba4c1cea4120ba70507115d1500842a0af343d804ff9573fd85291e305e4acf0111891281dba4903110f4073c4ee99ec78 https://click.response.cnbc.com/?qs=4d5ed131ee0951f6e2397a5206a718ba4c1cea4120ba70507115d1500842a0af343d804ff9573fd85291e305e4acf0111891281dba4903110f4073c4ee99ec78 Berkeley Lovelace Jr.News Associate https://click.response.cnbc.com/?qs=4d5ed131ee0951f66a6876a41dc4da829d2b20ab268b0cebab2419c3bf05e3b4a413ec3b8efddabb6e407c90853de6b5f1a58e1317509fd5130ae97a366ac627 @BerkeleyJr https://click.response.cnbc.com/?qs=4d5ed131ee0951f66fabfbfc9cf424b18ac251064002846e49ad1c9ff26fb9139528b718c6aa54a5438e652a05d8d7f469047581e7643062 https://click.response.cnbc.com/?qs=4d5ed131ee0951f66fabfbfc9cf424b18ac251064002846e49ad1c9ff26fb9139528b718c6aa54a5438e652a05d8d7f469047581e7643062 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=4d5ed131ee0951f692bcd758f1a38fb57bfc32f04443b82858def99fc6b53f3aa29774b876f1c53c8c66953171819d8b9e5e2207a9935fcf @peterschack Feedback We value your input—use https://click.response.cnbc.com/?qs=4d5ed131ee0951f6a867d25ae67646a30fbc92c3c14e0bcf086985fdd922c684a04cbbbaf0eb0b0917f59f2ae230cb02f7c666aef41f6b3a our simple form to let us know what you think. Click https://click.response.cnbc.com/?qs=4d5ed131ee0951f65e5be0dd95b9ab0eebf53f4675ddb186e44dcc409f1a93367ce8c6981c0d43a8827b3ad86db822b378d31dcbe463d259 here for Real-Time data and top stories on your desktop or mobile device. https://view.response.cnbc.com/ftaf.aspx?qs=16130831996cbebc9444dc0ef0be087b5c93bb42182bea16b65df583ea22f00b9c6b4a2244f7bf085754328a0d80785a https://view.response.cnbc.com/ftaf.aspx?qs=16130831996cbebc9444dc0ef0be087b5c93bb42182bea16b65df583ea22f00b9c6b4a2244f7bf085754328a0d80785a Send this email to a friend https://click.response.cnbc.com/?qs=4d5ed131ee0951f6d025ec11431cfaa51b924ffcaa37bc47a13fdd3d8e581ad6faf1280801c8da8f9298cc621a1b74c21316bd1457ae5a69 https://click.response.cnbc.com/?qs=4d5ed131ee0951f6969498743755a707355049b3cbbcb61329e61948f62a2c83f41b74a61dfcf9e86b9efa63687006eb6569ee1ae9f52f9e https://click.response.cnbc.com/?qs=4d5ed131ee0951f644f4296afc4d15af03f7d18821407ba3fa5f4928821b88fb4b419cbf9267cd65d0e68b5e632de2a11f4d7600731b1ddc https://click.response.cnbc.com/?qs=4d5ed131ee0951f685343f7158632a154819710ba3b5aeac8a728218f228c181b125b88e7befa3e06967fb0579c81e6d991219556c04b727 https://click.response.cnbc.com/?qs=4d5ed131ee0951f6a9900133906a0a6993093a362b15ebac02633713bd98200983e665180ebb3704c336a3ca518f89a741093b400d5e95a3eb70047a8e5a2ada Unsubscribe https://click.response.cnbc.com/?qs=4d5ed131ee0951f67f701dc2f01565fce08ec230b78856b676efdbb9f57061324037d288d6f5e262e70e6c8a364738a55c338517576e528f Advertise https://click.response.cnbc.com/?qs=4d5ed131ee0951f69232ac15f3b0782f05ab0eb7720c1f23d7f1e790b3361b29f85c8a94f6e894ad7f7603e7b4345965f69b9ca1b2d7cc2d9996e96bfff2e005 More Newsletters https://click.response.cnbc.com/?qs=4d5ed131ee0951f624bc921ddf3522e7011191d0091eb5b499bd10ca4da86add95ed4bf5beee2f2229ca76240d66d3f0b790c28e72c649f4 Digital Products (c) CNBC Inc. All Rights Reserved. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 To ensure delivery to your inbox, please add mailto:[email protected] [email protected] to your address book.