CNBC | Your Wealth
Compiled by
Matthew J. Belvedere and Peter Schacknow
IN THE NEWS TODAY
U.S. stock futures were indicating a strong rebound this morning, following the worst day of the year on Wall Street-even though the Greek crisis, seen as the culprit Monday, does not appear to be near resolution. (CNBC)
The snapback does not appear nearly enough to make up for Monday's decline, and at this point, only the Nasdaq is on pace to complete a positive second quarter, which ends today. (CNBC)
Greece is widely expected to miss a $1.8 billion debt payment to the IMF today-before the country's bailout officially ends at midnight and after a last-minute offer from the European Commission. (CNBC)
The EC offer requires Greek Prime Minister Alexis Tsipras to encourage voters in Sunday's national referendum to support the reforms-for-aid conditions imposed by creditors. (Reuters)
With capital controls and long lines at ATMs, Greek banks remain closed. The system, kept afloat by emergency liquidity assistance from the ECB, is up for review tomorrow. | Live blog (CNBC)
Standard & Poor's has lowered its rating on Puerto Rico to CCC-minus from CCC-plus with a negative outlook, as the governor of the commonwealth seeks to restructure the debt under U.S. bankruptcy code. (Reuters)
Competing with the likes of Spotify and Pandora (P), the new streaming music service from Apple (AAPL) makes its debut today. It costs $9.99 a month for full access to the iTunes library. (USA Today)
Microsoft (MSFT) is exiting the display advertising business, letting AOL (AOL) sell ads on its websites and apps, while selling map technology to ride-hailing service Uber. (Reuters)
General Motors (GM) said a shareholder lawsuit related to its ignition switch recalls has been dismissed. The suit accused GM directors of breaching their duties by failing to oversee company operations. (Reuters)
A federal jury has awarded $18 million to a young Swedish woman who sued her former Wall Street executive boss in an $850 million complaint over lurid allegations of sexual conquest, betrayal, and stalking. (USA Today)
President Barack Obama proposed in an op-ed last night to make up to 5 million more people eligible for overtime, in the administration's latest effort to boost pay for lower-income workers. (NBC News)
New Jersey Gov. Chris Christie is scheduled to announce his entry into the race for the 2016 Republican presidential nomination tonight at Livingston High School, his alma mater. (USA Today)
BY THE NUMBERS
Investors get several economic reports to consider today, beginning at 9 a.m. ET with the April Case-Shiller report on home prices, expected to show a 5.6 percent increase over a year earlier, compared to a 5 percent rise in March.
At 9:45 a.m. ET, the Chicago purchasing managers index is expected to rise to 50.0 for June, the point that differentiates growth from contraction. That would be up from 46.2 last month.
At 10 a.m. ET, the Conference Board's consumer confidence index is seen rising to 97.5 for June from 95.4 in May.
Food producer ConAgra (CAG) is among the small group of companies out with earnings this morning. There are no major companies scheduled to release quarterly numbers after today's closing bell.
The CEO of Qualcomm (QCOM) said the company has no present plans to spin off its chip business from its patent-licensing unit, as activist hedge fund Jana Partners has suggested. Jana has called the chip business "essentially worthless."
STOCKS TO WATCH
Insurance broker Willis Group has agreed with financial management services provider Towers Watson (TW) to combine the companies in an all-stock deal with an implied equity value of about $18 billion.
Sony (SNE) plans to raise almost $4 billion through the sale of new stock shares and debt. The company will invest the money into its growing image sensors business.
Juno Therapeutics (JUNO) is among our stocks to watch this morning, after Celgene (CELG) said it would invest about $1 billion in Juno. The two will form a partnership to develop treatments for cancer and autoimmune diseases.
AT&T (T) and DirecTV (DTV) have extended the "termination date" of their planned merger deal a second time, as the two companies continue to work toward regulatory approval.
