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=5e17d031167026d2f4b97a76bf1b58cb20534fbb14b04268823fbb3f33affa14287ca7e594945f039c3d4af4e859a692109c3839e338d08834c77815564b5721CNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=5e17d031167026d2f4b97a76bf1b58cb20534fbb14b04268823fbb3f33affa14287ca7e594945f039c3d4af4e859a692109c3839e338d08834c77815564b5721 here. https://click.response.cnbc.com/?qs=b59b905cec9fb093bb9f3307d253b98664e106ef9be1099bd5ce0a5014afc7c94110a1193138ef8fc06853a8d11b0792d8fb19a54a38ef4c https://click.response.cnbc.com/?qs=b59b905cec9fb093b3c47ca613632e190410157048bd5bfa807b5d82d1cad15d12ff6c7c2043eced9e1a2566cf2caab90675d846bf3301a2 BY THE NUMBERS U.S. stock futures https://click.response.cnbc.com/?qs=b59b905cec9fb093bfda659a13b1609405bfe5990bc8567875fe529f4667943048ac687d82adc66477553a81e548609e2b496a2c49d4c342 were steady as investors await the release today of the CBO's score of health-care bill that passed the House. The Dow, S&P 500, and Nasdaq were coming off a four-session winning streak. (CNBC)Global stocks were pushing against the pressure of the https://click.response.cnbc.com/?qs=b59b905cec9fb09310dd7e2ce3faef9f703912f47ab57550a367ffaecc2df0a6fd77de50fb9111fe579ba390b75380aff7e05a1e34783d51 first downgrade by Moody's of China's credit rating since 1989. Moody's cited concerns about efforts to support growth spurring debt growth. (CNBC)Oil prices https://click.response.cnbc.com/?qs=b59b905cec9fb093bb8d8068f83b53d14232a174a0d24588f4d2d29439a08e87ad93de1b515814bbe90e5fee342cbd772cfb20678b9dacca were steady this morning, extending Tuesday's gains, supported by confidence an OPEC-led output cut aimed at tightening supply would be extended at tomorrow's meeting. (CNBC Trading Nation)The Fed releases the minutes from its May meeting at 2 p.m. ET. Interest rates were left unchanged then. But investors are looking ahead to the June gathering with the https://click.response.cnbc.com/?qs=b59b905cec9fb093c656382f57216f0b22c44814fb7bb9ffef3dc7e9965da7fd555c5fd05a1657970136bebf0798128202ead496f2f9a616 odds of a hike at more than 80 percent. (CME)The National Association of Realtors issues April existing home sales at 10 a.m. ET. Separately, the Mortgage Bankers Association said total home loan application volume https://click.response.cnbc.com/?qs=b59b905cec9fb0933a8026a76775a985cdf7497abb39ada7c746ce792fe61a68816f2697973b43add342ca923dfa071be17db8a7cafaed25 increased 4.4 percent last week. (CNBC)Lowe's (LOW) this morning reported quarterly earnings, revenue, and same store sales that https://click.response.cnbc.com/?qs=b59b905cec9fb0932ceda1cc0b451828cec97e57561fd5b09a903d62477265efcb7084d0bfe67bded2367adf1e9707feea656c9c7350012d missed estimates. Shares of the home improvement retailer were under heavy pressure in premarket trading. (CNBC) https://click.response.cnbc.com/?qs=b59b905cec9fb0937d89626cbc360f84cb1c5cb1d8aba3b81198dbd2a2ee5083ce25c6878c4271d214f8d721516b3f752a1cb6eea1f20ea5 https://click.response.cnbc.com/?qs=b59b905cec9fb0930d834aeb32c6083f80b8052c30c758f526b52ea02f58f19206031e7cf7c669a768c961d6f6ac6ffe729d365359214d77 https://click.response.cnbc.com/?qs=b59b905cec9fb0938ab9035ba4c126819aa0b47ec1ca9b71fe738d1eca90aab30493c0d07a664bf31dfd78845fc99f0ca34c940482b22880 IN THE NEWS TODAY In response to the Manchester suicide bombing, British Prime Minister Theresa May put the nation on its highest level of alert and https://click.response.cnbc.com/?qs=b59b905cec9fb0939361eff41c3d9d0a4930bccb4b072631984c6dfddf211424ca2ccdfcaa5d2692b92e53b803b4188bdd98e7d00c0c7abc deployed the military to work with police over fears of another terrorist attack. (NY Times)President Donald Trump https://click.response.cnbc.com/?qs=b59b905cec9fb0933982219699f55e843f52b04a0f25684e1b27ce56d0493bc1c8d91f2768b319cdf9994194f53c54eb5b8b33873df20281 met with Pope Francis at the Vatican today. The president was reaching out to Christians after making overtures to Muslims and Jews on earlier stops on his foreign trip. (AP)President Trump https://click.response.cnbc.com/?qs=b59b905cec9fb09375808e5837a0934fc9691a10b72dba303a5f5d66c350e890cdea2e8707cefd6629be0e7c4ca77a035acddc3355f14a65 is expected to retain Marc Kasowitz as a private attorney on matters related to the investigation into allegations of Russian election interference being overseen by special counsel Robert Mueller. (NBC News) https://click.response.cnbc.com/?qs=b59b905cec9fb0935e0f1f1e8e0e26c12df727752226c28cc4780d745ea0820b9a8128b3510638dae6d17d330e59483fd7e6e6584366b014 The FCC won't take any action over thousands of complaints about a crude joke that late-night television host Stephen Colbert told about Trump and Russia's Vladimir Putin. (NBC News) https://click.response.cnbc.com/?qs=b59b905cec9fb093d8d7e110665ad4614ed9ab315eccf0af4fa1e39c1494b2022b3d31ac10db2ae76a26e404acfa26c0f3d3f3f9a170528f Fox News is retracting a story published last week that reignited conspiracy theories around the unsolved killing of Democratic National Committee staffer Seth Rich. (NBC News)Broadway saw its highest-grossing season on record, taking in a total of https://click.response.cnbc.com/?qs=b59b905cec9fb093cc11c0571832b9a37949b5bb46a99f2940b769106f6859946e352060d78b55949a3cb717a8af4e0d0d7d2e37979ddf27 $1.4 billion at the box office. While attendance was down slightly on the year, it was up 14.7 percent from four seasons ago. (Playbill)STOCKS TO WATCH Tiffany (TIF) beat estimates by 4 cents with quarterly profit of 74 cents per share. But the luxury retailer's revenue missed forecasts and same-store sales posted an unexpected decline.Advance Auto Parts (AAP) earned an adjusted $1.60 per share for the first quarter, well short of the $2.17 estimate. Revenue was short of forecasts, and same-store sales were down 2.7 percent.Intuit (INTU) beat estimates on quarterly earnings and revenue. The maker of TurboTax and QuickBooks software also gave upbeat guidance for the current quarter.The Container Store (TCS) reported quarterly profit of 17 cents per share, nearly twice expectations. The retailer of storage products also unveiled an optimization plan, which will include an unspecified number of layoffs.Western Digital (WDC) appears ready to offer $17.8 billion for the Toshiba's memory chip business. The companies are in the midst of a legal dispute over sale as it relates to their joint venture.U.S. grain trader Bunge said it's not in talks with Glencore, after the Swiss mining and commodities giant made an informal approach to discuss a possible combination.Apollo Global (APO) is advanced talks to buy CareerBuilder. The jobs website is currently owned by Tegna (TGNA), Tribune Media (TRCO), and McClatchy (MNI). But those companies want to shed what they consider a non-core asset.Corona beer maker Constellation Brands (STZ) made an approach to buy Jack Daniels producer Brown-Forman (BFB), according to a CNBC report. Brown-Forman has indicated it's not interested in selling.General Electric (GE) CEO Jeff Immelt speaks at the GE Electrical Products Group Conference in Florida today, amid a recent slump in the stock price and criticism by Wall Street analysts over the quality of GE's earnings.WATERCOOLER Amazon's (AMZN) first New York City https://click.response.cnbc.com/?qs=b59b905cec9fb093458feeb06b596da85982bc971d729d6472aff43efcc642556cc54ba0ccc2953ae3c9945119f55cc999c8b40c42f39611 bookstore opens Thursday morning , marking the e-commerce giant's highest-profile move into bricks-and-mortar retail to date. (CNBC)The ambitious new arts center known as the Shed in New York City has https://click.response.cnbc.com/?qs=b59b905cec9fb09334a0bf7b5b14a52253b4f5c48f9c7fa5e474c1ce4891431cf05720e03f28ba770f76f6b7bed78fc83757b571e3c7f287 received a $75 million gift from billionaire and former mayor Mike Bloomberg. The center is set to open in spring 2019. (NY Times CONTRIBUTORS https://click.response.cnbc.com/?qs=b59b905cec9fb093e342198cfb10afd7971f3d04cf8d03e70f2da44d8138bf7d2eb330b7431b3728124e0713b10fc7bf3a20faea6c4063cf https://click.response.cnbc.com/?qs=b59b905cec9fb093e342198cfb10afd7971f3d04cf8d03e70f2da44d8138bf7d2eb330b7431b3728124e0713b10fc7bf3a20faea6c4063cf Matthew J. 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