US stock futures higher as White House releases budget proposal — Trump condemns Manchester attack
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=8bbdefc070f7d7147bb8c075b367b6bf53cb879942bcd85536c13fac84ed844260fc34cba010ebc6a600d3bfad71ecde505be16c7df4ce899302e88fabe5ceb6CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=8bbdefc070f7d7147bb8c075b367b6bf53cb879942bcd85536c13fac84ed844260fc34cba010ebc6a600d3bfad71ecde505be16c7df4ce899302e88fabe5ceb6 here. https://click.response.cnbc.com/?qs=2f4bfe2e2ccd09673b8515fa8ec116164da642f09d5f40ad514e9b4172bf7d7d94c1a81ec1780236553591acc90f545923e4e8b3f0c6797e https://click.response.cnbc.com/?qs=2f4bfe2e2ccd0967c807ac4d33ead4e942e95ef8357b7721a93d8cd4532e87e717be27d6d3f1f4a9c8306107ac0d593da80af626dd72bad8 BY THE NUMBERS U.S. stock futures https://click.response.cnbc.com/?qs=2f4bfe2e2ccd09673ae140348ae8d8a094f4422c8a350e2cc9170ffa7ece75dcbbac97f6526ec97f15bc7a037ac459c165439ef160897793 were higher this morning as the White House releases its budget proposal today. While traveling in Bethlehem today, President Donald Trump condemned the deadly terrorist blast at a concert in Britain's city of Manchester, calling terrorists who carry out such attacks "evil losers." (CNBC)The https://click.response.cnbc.com/?qs=2f4bfe2e2ccd096781e55f93d53aadeb8a243be4397aa4e99254446b5f36373f37aa3cf4089d76685566e627ed12aa7246de14dd05e751d1 pound fell against the yen after the concert bombing in Manchester. U.K. Prime Minister Theresa May in an address this morning from London said this attack "stands out for its appalling, sickening cowardice." Britain's political parties have agreed to suspend election campaigning until further notice. (CNBC) https://click.response.cnbc.com/?qs=2f4bfe2e2ccd09670095d0a60c33eb5c06c5b0be86c2dbff3a701625440dbf631a8f3d4a4ce2084a094d70ccd5946b6c89aadecaa1fbc8c9 https://click.response.cnbc.com/?qs=2f4bfe2e2ccd0967f4b1cb73a41bbb4bd41beb33a4ba23c38e963991a96790aed617b61deb7adf47c651f9b5990d46bc02e236ee528b4d0e https://click.response.cnbc.com/?qs=2f4bfe2e2ccd096771248b01250d9f43aa7ddc2a808d3729b6048c377a709c1faf7517c049fdaaee681ea538f643ead1f6fb7ed35cd4b591 IN THE NEWS TODAY At least 22 people were killed and about 59 others were wounded in the https://click.response.cnbc.com/?qs=2f4bfe2e2ccd09676f9c8d77fdb48c6ffc65496670860aa7e5fb44418ed007856021162fd9079d4f562198f13be2e710c4b1e554bc9c0641 bombing outside Manchester Arena as an Ariana Grande concert was ending last night. Greater Manchester Police said they believe the attack was carried out by one man who died in the explosion. (NBC News)President Trump https://click.response.cnbc.com/?qs=2f4bfe2e2ccd0967b08fb5973bffb2fb17e214715f3d6a67114a37728d9e87a207504dc58d3a713d23513946d1d4db425fa62b6040b45941 met with Palestinian Authority President Mahmoud Abbas in Bethlehem today, a day after promising to make a renewed effort at peace between the Palestinians and Israelis. (NBC News)President Trump releases his first https://click.response.cnbc.com/?qs=2f4bfe2e2ccd0967258398808535a12f82982e521e9ba55b6786d6dbfc2cbaf7d4e016c4efa6d7a85cf318993a69f08681b52ff36c77dd4c budget plan today. The president is proposing major cuts to health care, food assistance and other safety-net programs for the poor to balance the budget in 10 years while increasing spending for the military and other priorities. (USA Today)Contained in the White House's 2018 budget proposal, a call to https://click.response.cnbc.com/?qs=2f4bfe2e2ccd0967c05b89e470d7380d1c6d7e3edb6275c8f6dd429938ab0dd1854d7eb60d803894181e265f72dcbc96d3c764d0aa041079 sell half of the nation's emergency oil stockpile , known as the Strategic Petroleum Reserve, and open the Alaska National Wildlife Refuge to drilling. (The Washington Post)Trump asked two of the nation's top intelligence officials in March to https://click.response.cnbc.com/?qs=2f4bfe2e2ccd0967922ca63fc1dec30ba3b845604a5e8a523011f598be895edb81f2706179c011828a77d511b3f69aca08774f13378ce8f6 help push back against an FBI investigation into possible collusion between his campaign and the Russian government, according to current and former officials. (Washington Post)Ex-FBI Director James Comey https://click.response.cnbc.com/?qs=2f4bfe2e2ccd096713236c8c97c314cd79d50cabf8ee81bdd1d2b9dabe2af22f7ee9c114fafbea933eb34e71c1aaaf8eb0eddd22d88788cf will speak to the special counsel overseeing the probe into Russian meddling in the 2016 election before testifying publicly on the events that led to his ouster. House Oversight Committee Chairman Jason Chaffetz also said an open hearing that he hoped to hold tomorrow would be postponed. (CNBC)Amazon (AMZN) will offer https://click.response.cnbc.com/?qs=2f4bfe2e2ccd09673bd381df5e80c9a94569b5b8598cd1df76dc431f69d2c7398428b8be6d5311da46f4d6f9e62c0eac2267f4eab3520561 live television channels on its video platform for the first time in Europe as the U.S. technology group steps up its push into broadcasting and ramps up its competition with traditional networks. Today, Amazon holds its annual shareholder meeting in Seattle. (Financial Times)LeEco, the Chinese company that made a big splash in the U.S. last fall, is preparing for https://click.response.cnbc.com/?qs=361a98fd606b70ec23d735f5456e324b114eb1f94729cee0b4c00b866791f484f3d9d3b6e0e024e5c91c4bb1e9ae0a35824b64d978db00e5 a round of layoffs that could happen as soon as Tuesday, according to sources. Two people have told CNBC the company is planning massive layoffs, with one source saying that only 60 employees will be left in the U.S. after the cuts. (CNBC)A group linked to North Korea is highly likely behind the https://click.response.cnbc.com/?qs=361a98fd606b70ec2b95cd7b6703aef59887e515898eede4e59dcc9fe31256d250e47eef8571709f94211da952483c26500f19e0bccde556 global ransomware assault that hit 200,000 victims in at least 150 countries earlier this month, and the attack resembles the behavior of a crime ring rather than a government-orchestrated one, a cybersecurity researcher said. (The Wall Street Journal)Turkey https://click.response.cnbc.com/?qs=361a98fd606b70ec082567a363fe051e29351766e82c59ee26333fc47c4d2afdd6148c282946cf5f1c4d47275723cebe9d165cda52e20487 summoned John Bass , the U.S ambassador to Ankara, to its Ministry of Foreign Affairs on Monday, in protest at the treatment of Turkish security personnel following a brawl in Washington last week. (USA Today)Euro zone ministers, the IMF and the Greek government https://click.response.cnbc.com/?qs=361a98fd606b70ecaa615a2999a65b78412932a677b24931c511f3e7a20858003df76a3675911cac46e26e2e35bc9a9d1a39ab0f6bd4df63 failed to reach a final deal on the country's debt relief plan, and are postponing a decision for their next meeting in mid-June. Short-term Greek bonds are spiking on the delay. (Washington Post)Minneapolis Fed President Neel Kashkari is scheduled to speak today and Wednesday, and Philadelphia Fed President Patrick Harker is making an appearance in New York this afternoon. Additionally, Dallas Fed President Robert Kaplan will speak Wednesday. All three are voting members of the FOMC. https://click.response.cnbc.com/?qs=361a98fd606b70ec8c0a863c86cf1246d8b536854857c4746299fbb04f32b9c6adaf6ecd0e208340a3255b9e4264aa0c6768cc776049a632 Here's what the rest of the week looks like. (CNBC Trading Nation)AutoZone (AZO), Toll Brothers (TOL), and Heico (HEI) are set to release earnings reports. Investors will also be on the lookout for data, including new home sales and the Richmond Fed survey, both slated to come out at 10 a.m. ET.STOCKS TO WATCH Nokia (NOK) settled an ongoing patent dispute with Apple (AAPL). The two sides also signed a business partnership agreement which would give it an immediate cash payment and ongoing revenue from Apple.Agilent Technologies (A) beat estimates by 10 cents, with adjusted quarterly profit of 58 cents per share. The medical equipment and technology company also saw revenue come in above estimates, and also raised its full-year guidance as its chemical, energy, and pharmaceutical businesses saw strong growth.Take-Two Interactive (TTWO) said the launch of its "Red Dead Redemption 2" game would be delayed until next year, pressuring the shares of the videogame maker ahead of this morning's earnings release.CSX (CSX) shareholders are being urged by proxy adviser ISS to approve an $84 million payout related to the hiring of Hunter Harrison as CEO. Activist investor Mantle Ridge put up that amount to free Harrison from obligations to his previous company, Canadian Pacific Railway (CP). Harrison has said he'll resign from CSX if shareholders don't approve the reimbursement.AstraZeneca's (AZN) experimental asthma injection cut the need for patients to take oral steroids in a late-stage trial, but the drug maker also saw a setback when its diabetes drug Bydureon did not show a benefit in reducing heart risks. CONTRIBUTORS https://click.response.cnbc.com/?qs=361a98fd606b70ec9c2d925a8efa79e7cf5c5e7edaac65974959e87906af321152d382fe559b31a7d5e5ff4bcfad99a68de8b65dfff5005c https://click.response.cnbc.com/?qs=361a98fd606b70ec9c2d925a8efa79e7cf5c5e7edaac65974959e87906af321152d382fe559b31a7d5e5ff4bcfad99a68de8b65dfff5005c Matthew J. 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