CNBC
Compiled by
Matthew J. Belvedere and Peter Schacknow
IN THE NEWS TODAY
U.S. stock futures were higher this morning, with new reforms-for-bailout aid proposals expected from Greece today. The euro dropped to a five-week low against the dollar this morning. Wall Street declined Monday, but finished well off the early-session lows. (CNBC)
Euro zone leaders were meeting in Brussels today to discuss next steps in the Greek saga. Meanwhile, the ECB maintained liquidity for Greek banks, but raised collateral. And Greece picked a new finance minister. | Live blog (CNBC)
Billionaire distressed asset investor Wilbur Ross-who's heavily invested in Greece's third largest bank-said he believed Greece would make a new debt deal with euro zone leaders. (CNBC)
Sooner or later, debt-stricken Greece will have to "confront an exit from the euro," said an outspoken leader of anti-austerity in Italy. Beppe Grillo also urged the Italians to follow suit. (CNBC)
U.S. oil prices today were stabilizing after Monday's 7.7 percent decline, which pushed crude into correction territory on concerns about global growth, record production, and potentially more Iran supply. (CNBC)
Iran nuclear talks were in danger of busting through their second deadline in a week today, as a senior Iranian official demanded an end to the U.N. arms embargo as part of any deal. (AP)
The White House is crafting a Mideast strategy for the remaining 18 months of President Barack Obama's term that would more forcefully address conflicts in Iraq, Yemen, and Syria. (WSJ-subscription)
Saudi Arabia's sovereign wealth fund is to invest up to $10 billion in Russia over the next five years, in a move signalling a thawing in relations between the two countries. (CNBC)
Chinese stocks were volatile again today, but closed well off session lows, as investors remained doubtful of the efficacy of Beijing's recent market rescue measures. (CNBC)
HSBC (HSBC) has fired six employees in the U.K., after they posted a video featuring an Islamic State-style mock execution, reportedly taped while on a company team-building trip. (CNBC)
State senators in South Carolina are expected to cast their final votes on removing the Confederate battle flag from the Statehouse grounds, but the measure would also need two-thirds approval in the state House. (USA Today)
BY THE NUMBERS
Three economic reports are on today's docket, including the May trade deficit at 8:30 a.m. ET; the May JOLTS-Job Opportunities and Labor Turnover Survey; and May consumer credit.
There are no major companies set to report earnings this morning, but The Container Store (TCS) is scheduled to issue its quarterly numbers after today's closing bell.
Advance Auto Parts (AAP) is set to join the S&P 500 after the close of trading Wednesday. The auto parts retailer replaces Family Dollar Stores, which has been acquired by S&P 500 member Dollar Tree (DLTR).
Advanced Micro Devices (AMD) cut its current-quarter guidance because of weak personal computer demand. AMD now expects second-quarter revenue to be down 8 percent from the first three months of the year.
STOCKS TO WATCH
Walt Disney (DIS) is at the center of an Anaheim City Council meeting today, with members voting on whether to approve plans for a $1 billion expansion of its Disneyland complex.
Goldman Sachs (GS) and Morgan Stanley (MS) would cease to exist, and JPMorgan (JPM) would shrink drastically under so-called "living wills," according to the Financial Times.
General Electric (GE) said it would take a $16.1 billion after-tax charge related to its GE Capital exit plan, accelerating the timing of the expected charges that it had previously revealed.
Nike (NKE) has struck a deal to outfit the University of Michigan's sports teams beginning with the 2016-2017 season, replacing Adidas. The new contract runs through at least 2027, with an option to extend.
Starbucks (SBUX) is raising prices for some of its coffee drinks by 5 cents to 20 cents in the U.S., but some popular beverages such as the Grande Brewed Coffee and the Frappuccino were left unchanged.
