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The S&P 500 futures are up 12 points and are trading 0.3% above fair value.
The Nasdaq 100 futures are up 40 points and are trading 0.3% above fair value.
The Dow Jones Industrial Average futures are up 123 points and are trading 0.3% above fair value.The 2-yr Treasury note yield is up one basis point to 4.86% and the 10-yr note yield is down four basis points to 3.97%.
Senator Elizabeth Warren and three other lawmakers have reportedly written to the Department of Defense urging them to review L3Harris’ planned $4.7B takeover of Aerojet Rocketdyne (AJRD). According to the lawmakers, Lockheed Martin (LMT), Raytheon (RTX) and Boeing (BA) are all reliant on products that only AJRD is able to make, and their operations could be hamstrung by the proposed acquisition. LHX and AJRD stocks were unchanged in pre-market trading.
Dominion Energy (D) Monday said it would sell its 50% stake in the Cove Point LNG plant in Maryland to Berkshire Hathaway Energy (BRK.A) (BRK.B) in a deal valued at $3.3B.
Dominion (D) said its stake in the plant was a non-core holding, and that it would use the proceeds from the deal to repay debt.
The Consumer Financial Protection Bureau continued in its crackdown on banks overcharging fees on consumer accounts by ordering Bank of America (NYSE:BAC) to pay more than $100M to customers for allegedly charging “junk fees, withholding credit card rewards, and opening fake accounts,” the agency said Tuesday.
The Office of the Comptroller of the Currency also alleged that the bank’s “double-dipping” on fees was illegal. The bank will pay a total of $90M in penalties to the CFPB and $60M in penalties to the OCC.
“Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent,” said CFPB Director Rohit Chopra. “These practices are illegal and undermine customer trust. The CFPB will be putting an end to these practices across the banking system.”
HAPPY 7-11 DAY – stop by your local 7-11 & get small slurpy for free 🙂
HOUSTON – Free Slurpee Day is here once again. On Wednesday, July 11… 7/11 (get it?)… anyone can walk into a 7-Eleven or Stripes store and receive a FREE small Slurpee! That’s right, F-R-E-E. Any flavor, including the new Cap’n Crunch Crunchberry Slurpee released last month.
Dow 34,260.82 316.42 0.93%
S&P 500 4,439.25 29.72 0.67%
Nasdaq 13,760.70 75.22 0.55%
VIX 14.90 -0.17 -1.13%
Gold 1,937.30 6.30 0.33%
Oil 74.90 1.91 2.62%
BITCOIN 30,500Boeing (BA) reports June 2023 gross orders of 304, deliveries +17% yr/yr to 60; YTD deliveries +23% to 266 aircraft
Boeing (BA) and Intel (INTC) to collaborate on advanced microelectronics for aerospaceActivision Blizzard $ATVI: Microsoft $MSFT has offered to make small divesture to meet obligations of UK CMA; says deal likely to close on Monday after FTC loses in court – CNBC’s David Faber
Walt Disney lower after exploring strategic options for its Star India business, including a joint venture or a sale, according to WSJ
$DIS down 0.2%Coty $13.39▲ 0.38 (2.92%) After Hours
Report Kim Kardashian in talks to buy back 20% stake of #SKKN sold to Coty, according to WSJ.Brookdale Senior Living reports that June weighted average occupancy increased 160 bps yr/yr to 76.8%
$BKD down 3.2%Domino’s Pizza Soars Pre-Market: $385.90 +36.11 (+10.32%)
After striking global delivery deal with Uber Technologies
$UBER Pre-Market: $44.98 +0.62 (+1.40%)Uber Eats will be the exclusive third-party platform for Domino’s in the U.S. until at least 2024.
Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.
Japan’s Nikkei: -0.8%,
Hong Kong’s Hang Seng: +1.1%,
China’s Shanghai Composite: -0.8%,
India’s Sensex: -0.3%,
South Korea’s Kospi: +0.5%,
Australia’s ASX All Ordinaries: +0.4%.Japan’s PPI decelerated for the sixth consecutive month, slowing the growth rate to a level not seen in two years.
Japan’s June PPI -0.2% m/m (expected 0.1%; last -0.7%); 4.1% yr/yr (expected 4.3%; last 5.2%).
May Core Machinery Orders -7.6% m/m (expected 1.0%; last 5.5%); -8.7% yr/yr (expected -0.2%; last -5.9%)
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