Bank earnings and Trump's French trip dominate investor attention
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://view.response.cnbc.com/?qs=4d3eaacc27f5b8cbb283307f0bea6b2e5e7cfd90ad5b32eeb8821f9c1bf26ee40a3b7d586df1691bd990669c53e3a96c9ba4fa728281d72732491c3e509c89aeCNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=4d3eaacc27f5b8cbb283307f0bea6b2e5e7cfd90ad5b32eeb8821f9c1bf26ee40a3b7d586df1691bd990669c53e3a96c9ba4fa728281d72732491c3e509c89ae here. https://click.response.cnbc.com/?qs=b4cd23a799ab72f3a03f0c67cbfb6cd4ee157d314710ad3487fbf22cd81fd7cce096d946bdf2ab18afe0cc225e972b8ed2c1fbd895eda541 https://click.response.cnbc.com/?qs=b4cd23a799ab72f371d9198bbad76841c539408c753501d02a957b09f2b1eedbbc197a6dc008548c7efc7373d7ceb873cb98a5d044048600 BY THE NUMBERS U.S. stock futures https://click.response.cnbc.com/?qs=b4cd23a799ab72f3e9b51d4d67c2ebd1165769061f6d123b0b78448f271770d9ddc2c145c47df4ddf338f930666ecaa8fe1cb8e1243f6bee were mixed after the Dow on Thursday logged its 24th all-time record close of 2017. The S&P 500 finished about 5 points away from a record. The Nasdaq, which hit a recent rough patch along with tech stocks, was about 1 percent away. (CNBC)The direction of https://click.response.cnbc.com/?qs=b4cd23a799ab72f3e7abb3303c5584452d1f31e0e51a2d0710d1d51dd771dd0efaca72f9342a2dc232b06f991bffc016e854aa0226442f38 Friday's market action could be determined by key bank earnings, as investors continue to monitor President Donald Trump's trip to France. The Dow, S&P, and Nasdaq were on track to post a second straight weekly gain. (CNBC)JPMorgan (JPM), Citigroup (C), and Wells Fargo (WFC) all issue earnings ahead of Friday's opening bell on Wall Street. Dow stock JPMorgan's quarterly profit and revenue https://click.response.cnbc.com/?qs=b4cd23a799ab72f3b7a3dff136d0b34d0c3ebc85746c997fecc43dec07f135237686b1de08ff7290111c21a8380527c682725b745592cb46 were higher than expectations. (CNBC)Following Fed Chair Janet Yellen's https://click.response.cnbc.com/?qs=b4cd23a799ab72f3f1df36d19f263e895da42cb7e74bacf5b3d6b7abfd440ac48edf732d9448161e385cdc904c688f721c90a2d826b502e5 caution about persistently low inflation in congressional testimony this week, the government's 8:30 a.m. ET release of June consumer prices takes on added importance. June retail sales are also out at 8:30 a.m. ET. (CNBC) * https://click.response.cnbc.com/?qs=526a28ead3f91f01996b5d173613fff9c38ba211a56ee240aaaee8c78132fdd6c9a1f89e95c84bd64a8d0d84a39b43a0c226410db87039c3 June industrial production is released at 9:15 a.m. ET (Fed) * https://click.response.cnbc.com/?qs=526a28ead3f91f014b17b98e2bf5416ec9c252f346f6ccb26a4ae9f772fa59d4791b1136f630ed8712933833da92a8d8f55304ae3a1dec3f Mid-July consumer sentiment index is out at 10 a.m. ET (University of Michigan) https://click.response.cnbc.com/?qs=526a28ead3f91f01d3dd96ce0a55bf45d93c0e2da18fc440df73b73a9cd9997bf7ded86fe6f4055040625dcdb809af8811f02c494a81d75c https://click.response.cnbc.com/?qs=526a28ead3f91f014f03969674556fbd5bbeb4ca53d16c7b45356e0320be90f6bcf3a97ae286aa73d5cf0079d96febdc0eba38948d80c05d https://click.response.cnbc.com/?qs=526a28ead3f91f015fb6b8c3c8dc3b8595cadbfe9158ecccd21b9a0b742855498dfacfea508f29a1610a7fa338e60d856a3d9cd6c31a8b95 IN THE NEWS TODAY The Russian lawyer who met with the Trump team after an alleged promise of compromising material on Hillary Clinton was accompanied by a Russian-American lobbyist, a former Soviet counter intelligence officer who's suspected by some U.S. officials of having ongoing ties to Russian intelligence, https://click.response.cnbc.com/?qs=526a28ead3f91f0160687bbcd5885bbba8cbb4db03d246724fcc63fec4261ff30342a57ab46016a7ebe44160b36290f3a11028a9464142f8 NBC News has learned. President Trump was a guest of honor at Bastille Day celebrations in Paris on Friday, the second day of his first trip to the France. Last year on Bastille Day, a terror attack in Nice killed 86 people and wounded hundreds. (USA Today) * https://click.response.cnbc.com/?qs=526a28ead3f91f017f8582d3be1ee70b86ba3fe1389c67cad5ebde97ee423b5bfed78786153a538f9fa593105c5147e77d144150d41368ff Trump jokes he backed off Putin to avoid a 'fistfight' (NY Times) * https://click.response.cnbc.com/?qs=526a28ead3f91f0149c02f9c464f0b4f1c9d24fe43444133b4786492bd0176b8470f1d599497342ccf340c6e26da062f77d09fa56b41327b Trump: 'Something could happen' on climate accord (Reuters) * https://click.response.cnbc.com/?qs=526a28ead3f91f012d9543b9fe4c00341be57cc162df610c69103df1050cc5ae6e28dbb26d85280cac0aca9e5b0390caff8f68e1df67ff8a Trump: Health-care reform 'more difficult' than Middle East peace (CNBC)A federal judge https://click.response.cnbc.com/?qs=526a28ead3f91f01d94ea631da493dc9a8334447405ed6209eb127211015d863382138c94c783fff56d9dfda9d60be5f885b46239490d831 has granted Hawaii's bid to exempt grandparents and other relatives from President Trump's temporary travel ban on people from six Muslim-majority countries. (Reuters) https://click.response.cnbc.com/?qs=6d8bfbe32c773e6f232a09e1fdce6372973cd6a91527943e4df472a93a48f1c31c63fb7a65f9461bdacd1ef10f0fe997e458847fe622cf45 Divisions remain with the GOP even after Senate leaders unveiled a revision of their Obamacare replacement bill, which would allow insurers to sell new low-cost, stripped down policies. (NY Times) https://click.response.cnbc.com/?qs=6d8bfbe32c773e6fe93ae4858541715d6ccce12ee18348aaffbfda627d2a6b5fb16892d479b10cc44baa46937013b4c5139b556360e4a665 Trump's budget would reduce the federal deficit, but it would not balance the budget over a decade as the White House promised, said the nonpartisan Congressional Budget Office. (CNBC)Fiat Chrysler (FCAU) https://click.response.cnbc.com/?qs=6d8bfbe32c773e6fb80aaa43f2b5e5bc6aead264b58baff86ffc1662d6f3ecef25f8e90f2b5fdf88fba4eaeed3c43b5a6e4265f9b9f66ad4 is recalling 1.33 million vehicles worldwide for fire risks and inadvertent airbag deployments. Meanwhile, Honda (HMC) https://click.response.cnbc.com/?qs=6d8bfbe32c773e6f781d9763c8d6dd70f19a84551cf2d239dbfde1f398292cffd5e4fb8db60e36df52d7013bf5a3ba130edadc05cb04f1ac is recalling 1.2 million Accords because a battery sensor can short out. (Reuters & AP)Honda is unveiling its https://click.response.cnbc.com/?qs=6d8bfbe32c773e6fe362f9aa082f276d82f9fddfbab11605db254779a82b313d7877c4968d055e00b269e47879022c8035a341242b1942ba next-generation Accord in Detroit today, as rival Toyota (TM) gets set to introduce later this month its all-new Camry, a major competitor to the Accord.FanDuel and DraftKings have decided https://click.response.cnbc.com/?qs=6d8bfbe32c773e6ff8c7f272454f95fccb7a46c07677139ddb5f59737f1dc1e2faea6bfce569213ff9962b9fb365a38c0c8f3f05e9ad57d9 to scrap their merger rather than fight the U.S. government, which had sought to block the combination of the nation's two top daily fantasy sports sites. (Recode) https://click.response.cnbc.com/?qs=6d8bfbe32c773e6f6ca2f8757f4921c0f82326465932b1b843a0bd1d4b6ca31379593f15fe92c994706095491c725abb5a74d4b9899e413c Recode sources shot down many candidates floated in the media for Uber's new CEO role, including Marissa Mayer, Arianna Huffington, Tom Staggs, Alan Mulally, and Susan Wojcicki. (Recode)Roku, a maker of streaming-media devices and software, https://click.response.cnbc.com/?qs=6d8bfbe32c773e6fd84ddf281be8c6c22ee9cbdab1eefbd101bbdb8b03a2bb39adc7a44445868730e2f384c60a1915700df50e2998d709ac is preparing an IPO that it expects to launch before year-end. Morgan Stanley, Citigroup, and Allen & Co. were recently hired as underwriters. (WSJ)STOCKS TO WATCH Arconic (ARNC) faces a shareholder lawsuit in the U.S. over the deadly fire at London's Grenfell Tower last month. The suit accuses the engineered metals supplier of failing to disclose the use of flammable panels.Anthem (ANTM) filed a lawsuit against drugmaker Insys (INSY). The health insurer accuses Insys of paying kickbacks to doctors and made false statements to Anthem to receive reimbursements.Tennessee joins three other states in imposing restrictions on dicamba, a flagship pesticide for Monsanto (MON). Farmers spray the weed killer on crops genetically modified to resist it. But drifting can hurt other crops.AT&T (T) Chairman and CEO Randall Stephenson will become executive chairman after the merger with Time Warner (TWX), according to Bloomberg. There will be two CEOs, one for telecom and other for media.WATERCOOLER Beyonce posted the https://click.response.cnbc.com/?qs=6d8bfbe32c773e6f51f5a3330df002a39c1e0bafa7ecdf04f5539e5db04d5a7baaf00dc1f45780bfd826c2eaa3fcd77416d97cca27b064be first picture of her newborn twins , Sir Carter and Rumi, on Instagram. The photo, showing her holding the two infants, was up to 4.4 million "likes" just five hours after the post. (Reuters) CONTRIBUTORS https://click.response.cnbc.com/?qs=50358eb2ecda29db38da274ab55f29ce78999cf3b4b5f1c80d1dac5da58a96f5d28fccfaafb0b82cf1392201b58026afc2f6a46cb4aa5715 https://click.response.cnbc.com/?qs=50358eb2ecda29db38da274ab55f29ce78999cf3b4b5f1c80d1dac5da58a96f5d28fccfaafb0b82cf1392201b58026afc2f6a46cb4aa5715 Matthew J. 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